Deng Alor Kuol, the Minister for East African Affairs. (-)

South Sudan’s regional minister Deng Alor Kuol tabled the East African Community’s financial year budget of about US$113 million to the bloc’s legislative assembly on Wednesday.

About 61 percent of the 2024-2025 budget will be funded through contribution from partner states and the remaining 39 percent from developmental partners.

The budget will be used to steer sustainable economic growth and social development across the EAC member states through investment in climate change mitigation and adaptation.

In his statement in Arusha, Tanzania, Mr. Alor who chairs the block’s council of ministers, urged the house to debate and approve the proposals by the Council of Ministers.

“I have the honor of informing you of the achievements of the previous budgets and the policy direction of the next financial year,” he said.

Minister Alor warned that the Financial Year comes at a time the EAC economies are “experiencing unfavorable global and financial conditions.

He partly attributes this to the geo-political conflicts and the negative impact of climate change on the economic performances of the partner states.

Mr. Alor noted that the high fuel and food import prices have put pressure on the exchange rates and foreign reserves across member states.

He added that despite those challenges, the economic performance in the EAC region in 2023 continued to improve, recording GDP growth rates ranging from 2.8% to 8.1%.

Meanwhile, the new secretary general of EAC Veronica Mueni Nduva pledged to work alongside the bloc’s legislative assembly in pursuing the critical goals aimed to deepen economic integration of member states.

“As I take on the responsibilities of the Secretary-General I pledge to work alongside you in pursuing these critical goals and deepen economic integration,” Nduva said.

“Strengthening political cooperation and enhancing social cohesion and institutional strengthening including enhancing intergen and inter-institutional coordination.”

“To the citizens of the East African Community. I am honored to serve you and I pledge to do so we’ve Integrity dedication and an unwavering commitment to our shared vision.”

The EAC budget the 2024 – 2025 drafted under the theme:“Sustainable Economic Transformation Through Fiscal Consolidation and Investment in Climate Change Mitigation and adaptation for Improved Livelihoods.”