Finance Minister Reports D2.45 Billion Spent on Personnel Emoluments in Q1 2026

By Fatou Sillah

The Minister of Finance and Economic Affairs, Seedy Keita, has informed the National Assembly that the government expended D2.45 billion on Personnel Emoluments (PEs) during the first quarter of 2026, underscoring the significant share of wages and salaries in public spending.

Presenting the 2026 budget implementation report, the minister disclosed that total Government Local Fund (GLF) expenditure and net lending for the period reached GMD 7.87 billion, representing 22 percent of the approved annual budget.

“The overall GLF expenditure & net lending for the first quarter of 2026 amounted to GMD 7.87 billion, which represents 22 percent of its budget for the year. The main drivers of GLF expenditure include spending on Personnel Emoluments (PEs), subsidies and transfers to sub-vented institutions, and debt interest. PEs amounted to GMD 2.45 billion, subsidies and transfers amounted to GMD 2.14 billion, and debt interest payments amounted to GMD 1.36 billion,” he stated.

He further detailed that personnel emoluments accounted for GMD 2.45 billion, while subsidies and transfers totaled GMD 2.14 billion. Debt interest payments stood at GMD 1.36 billion over the same period.

According to the minister, current expenditure amounted to GMD 7.13 billion, representing 20 percent of the approved annual budget of GMD 36.18 billion. This figure reflects a marginal increase of GMD 149.96 million, or 2 percent, compared to the corresponding period in 2025.

On capital spending, Keita reported that GMD 738.74 million was disbursed in the first quarter, representing 21 percent of the approved capital budget of GMD 3.54 billion. However, this marks a decline of GMD 409.18 million, or 36 percent, compared to the same period last year.

The minister attributed overall expenditure trends in the first quarter to key obligations, including payroll costs, subsidies, debt servicing, and infrastructure-related spending across government institutions.

“The largest share of Q1 2026 expenditure was driven by a combination of payroll obligations, subsidies, debt servicing, and infrastructure spending across key ministries and entities,” he added.