From Adia Jildo, in Juba
The National Transitional Legislative Assembly of South Sudan, Monday, approved and passed the long-awaited fiscal year budget in the sum of 4.2 trillion South Sudanese Pounds.
The budget, which typically should be passed in July, includes a 2.6 trillion SSP deficit.
“We have passed the national budget of the Republic of South Sudan with all the recommendations. You have made an observation at its third and final reading stage. And it is in its totality,” said the Speaker of parliament, Jemma Nunu Nkumba during the sitting at the Parliament.
The Ministry of Finance is expected to table the budget before the cabinet for signing by the president where it will be implemented.
The minister of Finance and planning, Marial Dongrin however said the deficit will increase the public debt and financing gap.
“In light of the current financial conditions, raising the deficit from 1.9 trillion to 2.6 trillion as suggested by the committee will increase public debt and financing gap,” he said added.
“Once the financial situation improves, the Government, the Executive in particular, will consider presenting and submitting a supplementary budget first to the Council of Ministers and to the National Legislation. Therefore, I strongly urge the Honourable Members to maintain the deficit at its current level.”
Dongrin cited the importance of the resumption of the oil production to the economy of South Sudan.
“We are optimistic that once dark land export resumes, our financial position will be significantly boosted, making it possible to fund the supplementary budget,” he cited.
The budget was passed with consideration and recommendations made by the August House especially on the issues of effective budget performance.
The National Financial Bill for the year 2024-2025, the Appropriations Bill and the Financial Bill has been approved and passed with all the recommendations and observations from the third reading to the fourth reading and it has been seconded by the House.
