South Sudan, Egypt sign deal on economic cooperation

CAIRO, NOV. 8, 2023 (SUDANS POST) – South Sudan and Egypt on Tuesday signed a memorandum of understanding on economic cooperation and coordination.

The deal signed on behalf of South Sudan by the minister of finance Bak Barnaba Chol and his Egyptian counterpart Mohamed Maait Ahmed in Cairo on Tuesday aims to boost taxation and enhance capacity building programs in South Sudan.

According to Chol said the deal will enhance the country’s capacity building, revenue collection and management

“We have just signed a memorandum of understanding in that regard, and we have then extended our request to have technical assistance and support in custom, public financial management, in treasury single account, in budget and discipline modern enforcement and in different levels,” he said on SSBC.

The minister said they have learned how Egypt managed to bring their entire 61,000 different government accounts into single account.

“We have had presentations to those regards. We have benefited together with my team on how they managed to bring the entire 61,000 accounts of the government to one single account and on how they have enforced sufficient tax collection and tax management and ceiling expending and monitoring systems to be able to have an efficient public financial management system,” he said.

For his part, Egyptian finance minister Mohamed Maait Ahmed said the two countries agreed to cooperate on transferring knowledge, experience, and system to boost tax collection.

“We ended by signing memorandum of understanding between the two ministries and our focus is to build an umbrella for all cooperation and coordination between two ministries with regard to public finance,” he said.

“We talked about how to cooperate on transferring knowledge and system which can ensure that we will better management of our revenue and also for more efficient expenditure by looking at the system we are using which we can also transfer knowledge and experience on that aspect,” he added.