Finance Minister Sabuni places 2014 South Sudan revised draft national financial budget before Parliament
September 18, 2013
Finance Minister Aggrey Tisa Sabuni has presented a revised draft budget of South Sudan before the parliament. The earlier budget was withdrawn following the sudden reduction of cabinet ministers by President Kiir during his reshuffle which saw a cut of cabinet ministers’ number from 31 to present 21. The budget will now be before the parliamentary finance committee for review. The budget will now have to get approval or rejection within the next 45 days.
Agrey Tisa Sabuni had to present the budget because he replaced Kosti Manibe Ngai during the August reshuffle.
The new budget gets financed mostly from oil revenue, non-oil revenue, loans and budget support from donors. The total budget has come to about SSP 17.3 billion. As many as of SSP 4.9 billion will have to be brought by way of loans though oil income will bring in SSP 10.6 billion once the full scale product get through. The non-oil revenue will be about SSP 1.5 billion.
Allocation to Security and law enforcement was cut to 50% of the budget (down from 58% of the 2012/13 budget). At the same time, capital investment allocations rose to 16%.