Austerity Measures To End In June 2013

This article was last updated on May 21, 2022

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He cautioned that with resumption of oil production, austerity measures may be lifted but did not provide more information on how it would be lifted.

The inflation rates in the country have been controlled by South Sudan Central Bank and the minister noted that the value of South Sudanese Pounds is still strong which reflected good economic management within during the austerity measures.

The government have managed rate from 5 to 4.2 in past month.

“We have managed so far to keep the value of South Sudanese Pound from depreciating massively from the time the oil was shutdown, the rate in the parallel market was around 3.5 and it rose up to about 5. Over last three months it has appreciated now stand around 4.2 that in my view is a sign of good performance of the economic,” he said.

“Austerity measures will be abandoned in June 30 next year if oil flow is resumed by South Sudan. The austerity measures the country undergone is very best way for controlling financial management which reflect good performance,” said Manibe.

He explained that Austerity measures are going to continue with us for a while, I hope that some point we still resume the flow of oil but even if that happens, much of austerity measure that are in place will continue up to the end of fiscal year that is up to 30 of June.

“From next the fiscal year I hope the austerity measure as we have seen now will not be there, we will go back to the normal cycle of the budget but remember that many of the austerity measures that we have put in place are actually just good financial management and those will remain – will continue – even if we back to the normal budget,” he said.

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