Cabinet allocates 2.5 trillion SSP for 2023/24 fiscal year budget

The cabinet has allocated 2.5 trillion South Sudanese Pounds for the 2023/24 fiscal year budget.

 Michael Makuei Lueth, the national minister for information said that this was the first time the budget process started on time.

He said that the minister of finance and planning Dier Tong Ngor is most likely to present the budget in May 2023.

“What we have at present is about 2.5 trillion SSP in that budget, he (Ngor) has requested the cabinet to give necessary advice as to what could be done,” Makuei told journalists while referring to the financing of the deficit within the estimated budget on Friday after the weekly cabinet meeting in Juba.

 Makuei said the proposed busget includes the new re-adjusted salary structure for civil servants.

He said the budget would most likely be presented to cabinet for consideration at the end of April before it is table before the national legislature in early July.

The 2022/23 budget totaling 1.4 trillion SSP was passed about 3 month ago with a deficit of about 560 billion SSP.

South Sudan heavily depends on oil revenues to finance it’s annual fiscal expenditure.