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Gov’t sets aside 750 million pounds as emergency funds

Author : | Published: Wednesday, February 12, 2014

750 million South Sudanese Pounds has been earmarked as an emergency fund to respond to the security and humanitarian crisis in the country.

The Minister of Finance and Economic Planning presented a supplementary budget before the National Parliament for deliberation yesterday.

500 million pounds will be allocated to the army and the organized forces.

Aggrey Tisa Sabuni said the Supplementary Budget would be added to the 18.6 billion pounds in the 2013/2014 budget passed by the assembly last year.

“The incurring cost requirements of the army alone have increased significantly, while the displacement of the people and the destruction of their assets and property have created a huge demand for humanitarian support and relief,” Mr Tisa told the parliament yesterday.

The Supplementary Budget document was sent to the Finance Committee in the Parliament.

The Committee is expected to present the budget to the parliament next week.

On other matters, Aggrey Tisa said the Central Bank has enough foreign currency reserves.

Mr. Sabuni told Eye Radio that the foreign currency reserve will mainly be used to facilitate investments.

“We are talking about foreign reserves of trade like dollars,” he said. “So, what I know is that the Central bank has enough foreign reserves to last the country for at least six months.”

Mr. Sabuni said the foreign currency can be accessed by the public, especially the business community, through the Central Bank.

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