South Sudan's English Daily Newspaper
"We Dare where others fear"
By Benjamin Takpiny
The cabinet chaired by President Salva Kiir on Friday approved the budget for the 2024/25 fiscal year totaling 4.2 trillion South Sudan Pounds.
Jacob Maiju Korok, the deputy minister of information and communication said that the budget is focused on funding peace implementation, salaries arrears for civil servants and organized forces.
Civil servants have gone for nearly 9 months without receiving salaries.
Korok noted that the budget also covers elections related expenditures and prioritizes funding for the agriculture and mining sectors as the youngest nation seeks ways to wean off over reliance on oil which funds 90 percent of the fiscal expenditure.
Korok noted that government expects to source for grants and also external borrowing to finance the budget deficit which stands at 1.9 trillion South Sudan Pounds.
He added that another strategy is to increase production of the Dar blend oil which has reduced since outbreak of conflict in neighboring Sudan, and also realignment of the exchange rate, expenditure rationalization and cuts on foreign travels.
Korok said the budget will soon be presented to the national legislative assembly parliament by the minister of finance and economic planning, Marial Dongrin Ater.
The 2023/24 fiscal budget was 2.1 trillion South Sudan Pounds (2.1 billion dollars).
