18 June 2018

South Sudan Increases 2018/19 Financial Budget By 75%

Photo: Joseph Oduha/The Nation
The University of Juba students take to the streets on May 8, 2017 to protest against the worsening economic crisis and the rebellion ravaging South Sudan. (file photo).

The nation of South Sudan is set to approval the increment of its new 2018/19 financial budget which has been fattened by 75 per cent. The new budget will be approved next week. The new figures are set to lift the country's economy that has not been performing as great as its neighbours. The state has suffered a number of setbacks that crippled its economy but seeks to revive its hope.

East African countries have shown support by building solid relationships through bilateral trade partnership with South Sudan, with the hope and vision of strengthening the country's economy. A number of businesses have set their eyes on the market though proceeding with caution. Insecurity issues have hindered the robust expansion of the economy as entrepreneurs seek for assurance of their business security first to set up their firms.

The new financial budget has not been revealed into details the prioritized sectors in the country. The cabinet though hopes that the $63 million budget will stellar their performance in East Africa region and catapult them to the next level. The civil wars have played a horrendous role is stagnating the country's progress but the government is determined to bounce back.

A 75 per cent increase in the nation's budget shows the seriousness and tenacious desire for the government to make an impact in the new fiscal year. The funding will mostly be mined from the oil industry that has been a fundamental backbone to the nation's economy. Agriculture could be a major area of concern with over 12 million Sudanese devoid of a balanced diet.

Cultivation and farming is not a potential economic activity among the citizens following civil wars' insecurities but the country cannot afford to have more imports should they strengthen their currency.

President Salva Kiir has been on the helm since the country gained its independence and has made reformations for the nation to improve the economy.

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