By Sarjo Brito
The Minister of Finance and Economic Affairs Mamburay Njie on Wednesday, February 9, 2022, appeared before lawmakers where he was asked to explain the dramatic surge in the price of essential commodities and what is being done to address the situation.
Minister Njie told lawmakers the dramatic increase reflects the global trend seen due to the coronavirus pandemic as supply chains across the globe continue to suffer disruptions.
“Domestic structural challenges such as congestion in the seaport, shortage during the peak of the pandemic, all further fuelled inflation,” Njie said
The Minister, however, assured lawmaker’s that steps are being taken by the Gambian government to address the situation as they continue to monitor both national and international developments and how they impact domestic inflation.
“The Government and MPC [Monetary Policy Committee] are monitoring national and global developments and their possible impacts on domestic inflation”, the Minister for Finance and Economic Affairs said.
The coronavirus pandemic has posed major challenges for supply chains globally and The Gambia is no exception. lockdowns continue to slow the flow of finished goods and even raw materials, thereby disrupting manufacturing. While countries blame this global trend on why prices of commodities are rising, some Gambians believe the COVID-19 pandemic is being used as a farce to justify the hike in essential commodities while ignoring other relevant market issues like monopoly and price control among others.
In recent weeks, the country has not only witnessed a hike in the prices of basic commodities but also a shortage of other essentials like eggs, flour etc
