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Gambia News: Gambia growth seen 7 pct in 2007 - c.bank

Banking, tourism and telecoms as well as a booming construction industry were expected to underpin growth this year, acting central bank governor Bamba Saho said in a statement.

"The robust economic expansion is expected to be sustained in the near term supported by improving financial conditions," the statement said.

"Inflation is forecast to decelerate to less than 5.0 percent by end December 2007," it said.

Gambia's economy grew an estimated 7.1 percent in 2006, compared with 6.9 percent in 2005, according to central bank figures.

Gambia, a tiny finger of land largely surrounded by neighbouring Senegal and popular with European package tourists, has no significant mineral resources, poorly-developed infrastructure and high levels of illiteracy.

More than 70 percent of its 1.5 million people rely on agriculture to make a living, while around 10 percent are estimated to be dependent on tourism. The vast majority survive on less than $2 a day, according to U.N. figures.