The stock of public debt rose from just below 70% of GDP at end-2010 to 108% by end-2015. Consequently, interest payments on public sector debt increased to absorb 40% of government revenues in 2015, up from 25% in 2013. The outlook for 2016 is clouded by policy slippages related to financing another large programmed deficit of 9.3% of GDP. Associated with the fiscal deficit, Gambia experienced a significant balance of payments crisis, which led to a decrease in its official reserves from six months of import cover at end-2012 to less than three months in early 2016.