20th April 2019
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Govt proposes 106 billion SSP for 2019/2020 fiscal year

Author : Memoscar Lasuba | Published: 3 weeks ago

Dr Martin Elia and members of NPTC during a meeting in Juba | Emmanuel J. Akile/Eye Radio

The ministry of finance has proposed more than 100 billion South Sudanese pounds for the fiscal year 2019/2020.

The resource envelop was presented to the council of ministers by the finance minister, Salvatore Garang, on Friday.

The 106 billion pounds which is an equivalent of 684 million US dollars is expected to cater for salaries, state transfers and fund upcoming interim government, that’s according to the minister of cabinet affairs, Dr.  Martin Elia Lumoro said

“The resource they expect to produce the budget from include increase in oil production where …we are going to resume oil production in Tarjas and Unity,” Dr Elia said.

The amount is more than the current budget by 24.5 billion dollars.

He said the government has projected to raise a gross oil revenue of 211 billion pounds, an equivalent of 1.4 billion dollars to meet this budget.

“The projection for gross oil revenue, the minister of finance puts it at 211 billion pounds which is the equivalent of 1 point 4 billion dollars,” he said.

The 1.4 billion-US dollar budget is the net oil revenue the country anticipates to earn after paying off oil transit fees for Sudan, and dues of other companies such as Nilepet, Trafigura and Sahara, among others.

“The resource they expect to produce the budget from include increase in oil production where …we are going to resume oil production in Tharjiath and Unity,” Dr Elia said.

He went on to say that the government is going to increase taxes ranging between 20 and 25 percent especially on alcohol, cigarettes and other luxuries.

The new financial year will begin in June and end next year same month.

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