- June 21, 2023
- Posted by: admin
- Category: News
Tuesday, June 20th, 2023-Juba
Communication Department-MoFP
The Minister of Finance and Planning, Hon. Dier Tong Ngor presented the draft National Budget, Appropriation Bill and Financial Bill for the fiscal year 2023/2024 this morning to the National Legislature for its first reading.
The Speaker of parliament, Rt. Hon. Jemma Nunu Kumba commended the efforts of the minister of Finance for delivering the financial year budget early for the first time and urged the August house to deliberate on the document in timely manner for approval.
The proposed spending budget is tabled at the tune of 2,105,014,221,619 SSP with a Projected Revenues at 1,837,837,440,803 SSP making a deficit of 267,141,000,816 SSP which is estimated at 4.6% of the GDP.
In his budget speech, Minister Dier highlighted the challenges facing the country’s economy, ‘our country continues to suffer from numerous external shocks and internal structural weakness, which have created acute macroeconomic instability and suffering to our people.’ The minister mentioned the ongoing Russia-Ukrain war, impacts of COVID-19, impacts of climate change, poor road infrastructure, internal communal conflicts and the war in Sudan as the main impediments to developments.
The minister concluded his remarks by asserting his confidence in the proposed 2023/2024 FY budget, which he said would ‘consolidate peace and stabilize the economy’. Minister Dier stressed the need to ensure public resources are used efficiently and effectively for the benefit of all South Sudanese.
