South Sudan has enough money, won’t borrow from local market this year – finance minister

JUBA – South Sudan’s Minister of Finance and Planning Agak Achuil has said that his government had last year collected enough money to cover the country’s fiscal budget of 2021/2022, saying the government won’t borrow money from local markets this year.

Speaking while tabling the national budget before parliament for approval on Wednesday, Achuil said revenues collected during 2021 amounts to 200.8 million South Sudanese Pounds, which he said are enough to operate the country’s economy.

“The total revenue collections during the financial year2021/2022 were SSP 200.8 billion and were above the budget  target of SSP 197.09 billion by 1.9 percent,” he said.

Achuil said the government will not borrow any money from domestic market during this fiscal year

“The government will not borrow any money from domestic market during this fiscal year, including borrowing from the bank of South Sudan,” he said.

“The government strategy will be to source external funds, when require, on concessional terms and ensure that any new borrowing does not undermine debt sustainability,” he added.