Home | News    Friday 26 August 2016

South Sudan cabinet proposes SSP 29.6bn budget

separation
increase
decrease
separation
separation

August 25, 2016 (JUBA) - The South Sudanese cabinet has proposed nearly SSP 30 million for financial year 2016/2017, two months after the end of the fiscal year.

JPEG - 16.7 kb
A man from South Sudan displays new currency notes outside the Central Bank of South Sudan in Juba on 18 July 2011 (Photo: Reuters)

In an extraordinary meeting chaired by President Salva Kiir on Wednesday, the cabinet directed the ministry of finance to consult other ministries before presenting the budget proposal to the council and later Parliament.

"The proposed financial year 2016/2017 is 29,655,000,000 [twenty nine billion six hundred and fifty five million] South Sudanese pounds," the country’s information minister Michael Makuei Lueth told reporters after the meeting in Juba on Wednesday.

Makuei said the cabinet accepted the proposed budget in "principle." There is an increased of nearly SSP 20 Billion compared to last year budget but some economists said the value is lower when inflation rate of 600% is factored and compared against the United States dollars.

South Sudan’s local currency, the pound, has fallen sharply since the government allowed floating of exchange rate in December, pushing price to increase several times.

Information Minister Makuei said the increase in the budget is meant to cover peace implementation and expanded transitional government of national unity.

"That is, there is an increase of 19,310,547,663 SSP [compared to last year’s budget]. This increase is estimated to be 187 percent. Of course, as a result of so many factors including the implementation of the agreement,” he said.

He said the minister of finance has been asked to invite other ministries and technocrats to study the budget and return to the cabinet "soon."

South Sudan financial year usually begins on 1 July and therefore for a new budget to be implemented, parliament must approve it after deliberations for at least 30 days.

(ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.
  • 26 August 2016 14:52, by Agutthon

    Late budget passage what a shame?

    repondre message

  • 26 August 2016 16:41, by Mr Point

    The budget has increased by 187% over last year.
    Inflation has increased by 600% over last year. You do the math and you’ll appreciate the problem. It’s getting worse.

    If the economy is so weak who is stupid enough to believe the solution is endless tribal wars with people you signed a peace agreement with?

    repondre message

Comment on this article



The following ads are provided by Google. SudanTribune has no authority on it.


Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Wedding in Juba - How can you tell if a bridegroom works for Nilepet? 2017-02-24 05:25:41 By Deng Kiir Akok The Nile Petroleum Corporation is a national Oil and Gas Corporation, which engages in oil exploration, production and marketing. Famous for its abbreviation Nilepet has been a (...)

Bashir’s congratulation for Trump remains double-edged sword 2017-02-21 08:47:41 By Mahmoud A. Suleiman This is a note to the readers of this article about my use of the phrase double-edged sword. It means that Omar al-Bashir’s Speedy congratulation offer to Donald Trump (...)

South Sudan: Why ’NO’ for peace and ’YES’ for war 2017-02-20 20:45:12 By Tor Madira Machier The region and the International community has been on a campaign in a bid to end the civil war in South Sudan right after its inception in December 2013, yet the very (...)


MORE






Latest Press Releases


Militias of Bashir’s Regime and the Proxy War (1) 2017-02-08 21:49:09 Sudan Democracy First Group Militias of Bashir’s Regime and the Proxy War (1) War in the Blue Nile: Militias in the hunt of refugees and displaced population Introduction Throughout its rule, (...)

More refugees flee to Uganda than across Mediterranean 2017-01-25 09:15:39 January 25, 2017 Uganda welcomed more refugees last year than the total number of refugees and migrants crossing the Mediterranean into Europe. “Europe should learn from the way Uganda and other (...)

Carter Center welcomes new regulations on humanitarian affairs 2017-01-12 07:53:16 The Carter Center ATLANTA, Januarg 11, 2017 – The Carter Center welcomes the recent regulations issued by the government of Sudan aimed at facilitating humanitarian relief throughout the country (...)


MORE

Copyright © 2003-2017 SudanTribune - All rights reserved.