Category: Economy

Economy

NBGs governor assents 2023-2024 budget into law

Northern Bahr el Ghazal governor assented into law the state’s 2023-2024 Fiscal Year Budget and Appropriation Act on Wednesday, nine months after the national budget was signed into law by the president.

Tong Akeen Ngor consented to the 13-billion-pound budget after it was presented to him by the state parliament speaker, Honorable Achol William Amoi, only one month before the tabling of the next budget.

“The Fiscal year 2023/2024 State Budget is SSP 13,697,089,800, which is based on personnel, operating and capital costs,” a statement from the office of the governor read.

It was not immediately clear when the state’s legislature passed the budget.

In August 2023, President Salva Kiir signed the 2023-2024 Fiscal Year Budget of 2.1 trillion pounds into law, two days after it was contentiously passed in parliament.

The fiscal year budget was passed with a 400 percent increment in salaries and wages for civil servants, the Army, and other organized forces.

In February 2024, the national cabinet also passed a minimum supplementary budget of about 107 billion South Sudanese pounds, which is short of the 713 billion requested to support electoral preparedness.

However, challenges in exporting the country’s chief crude oil through war-torn Sudan has left the government struggling to fund the budget, leading to failure to pay civil servants for many months.

Former Finance Minister Dr. Bak Barnaba Chol said, during a meeting with finance ministers of the states and administrative areas in February, that the government does not have enough resources to sustain the 400% salary adjustment approved in the 2023/2024 budget.

 

Continue reading NBGs governor assents 2023-2024 budget into law

S. Sudan enormous resources is ‘mind-boggling’ -EU Ambassador

The EU ambassador to South Sudan says the country’s enormous resources should provide solutions to problems regionally and to the globe rather than becoming a source of issues and problems.

Timo Olkkonen has described the natural resources the country has a mind-boggling and called for their preservation -some he said, should be the pride of the country.

“When you look at the resources that this country has, it is mind-boggling, and the country really should not be a source of issues and problems, but really a part of providing solutions regionally and to the globe, ” he told Eye Radio on Tuesday.

He said there is a wealth of opportunities to tap in South Sudan especially with its abandoned water, wildlife and fertile land, among others.

Timo said South Sudanese people should benefit from their natural resources.

“We want to keep an eye on the long game of looking at the tremendous potential that the country has in terms of agriculture, in terms of biodiversity, in terms of its benefit for combating climate change issues, water management, there is a wealth of opportunities here.”

Diplomat Timo Olkkonen went on to say South Sudan should avoid the mistakes of other countries in managing resources and ensure proper environmental conservation.

However, he said providing security and stability is key for the country to utilize the untapped resources.

“The key issue is to provide security and stability and then you can really start tapping these resources.

“It’s the opportunities that are out there and the resources that are considerable should be a sources of pride for South Sudan and I’m firmly believe that they will be a source of pride for the people of South Sudan.”

South Sudan is home to the world’s second-largest land mammal migration, comprising various animal species such as Elephant, Giraffe, hippopotamus, Tiang, and Mongalla gazelle.

In addition to petroleum, South Sudan is believed to have significant mineral resources such as gold, copper, diamond, limestone, Nile River, forests, and wildlife.

“So, it is something that absolutely you should preserve and we want to be a partner for the South Sudanese in doing that,” he added,

 

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