The Ministry of Finance says it is unable to generate enough revenues to fund the annual budget.

In a paper presented at an economic forum yesteray, the deputy Minister of Finance said the government only generates a third of the budget.

Mary Jervase Yak says the government relies on loans to meet the remaining two thirds.

Mary Jervase said the government has been looking for both domestic and external loans to fund the budget.

She says for now, the government is borrowing from the Central Bank only. Ms Jervase says the gap is due to the current crisis and the fall in oil prices in the world market.

“The parallel exchange rate has depreciated by 50% [against the US dollar] during the last 12 months as the fall in oil revenues has reduced the availability of foreign exchange in the market,” the minister said.

But those who exchange currencies in the black market in Juba say the rate of the dollar against the pound has doubled in the last few months.

The paper also said the prices of goods have not yet increased in line with the depreciation.

However, residents and traders in Juba admitted in recent interviews with Eye Radio that food prices have more than doubled this year.

The forum is discussing population and development and will make recommendations on how to improve the economy.