The National Council of Ministers recently approved the draft budget for the fiscal year 2024/2025, with a focus on paying civil servants and organized forces, and cutting down on travel expenses. The budget was presented by Finance Minister Dr. Marial Dongrin Ater and is themed around accelerating economic recovery through peace, social services, and agriculture.
Deputy Information Minister Dr. Jacob Maiju Korok emphasized that the revised budget aims to address costs related to peace implementation, salary arrears, foreign missions, election expenses, and critical investments in agriculture and social services. The total budget estimates are 4.2 trillion SSP with a fiscal deficit of 1.9 trillion SSP.
To reduce the deficit, the government plans to resume exporting Dar Blend, realign exchange rates, seek grants and borrowings, rationalize expenditure, cut capital expenses, and reduce foreign travels. The budget was passed with amendments after thorough deliberation.
Despite the delays in budget presentation due to economic challenges worsened by conflicts in neighboring countries, South Sudan’s transitional government continues to work towards economic stability and growth through strategic financial planning.
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