JUBA – South Sudan finance minister Salvatore Garang Mabiordit has warned that the government will not be able to fund its activities due to the effects of coronavirus pandemic and the civil war which ended in February.
Mabiordit made the remarks before the economic specialized parliamentary committee in Juba on Thursday.
“The economy has been hammered down very much by COVID-19 and by the war itself,” Mabiordit said. “There is no money, the trade is zero and therefore, without trade, then there will be no money to fund government priorities.”
South Sudan economy is facing hard time due to declining oil prices at the internal market, coronavirus pandemic and a rampant corruption.
Last month, the Central Bank of South Sudan announced that it has run out of foreign reserves and as such could not control the price of foreign currency at the parallel market with the United States Dollar reaching a record high last week.
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