{"id":53780,"date":"2024-02-29T11:47:07","date_gmt":"2024-02-29T11:47:07","guid":{"rendered":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-blames-economic-crisis-on-conflict-oil-woes-and-external-factors"},"modified":"2024-02-29T11:54:48","modified_gmt":"2024-02-29T11:54:48","slug":"south-sudan-blames-economic-crisis-on-conflict-oil-woes-and-external-factors","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-blames-economic-crisis-on-conflict-oil-woes-and-external-factors","title":{"rendered":"South Sudan blames economic crisis on conflict, oil woes, and external factors"},"content":{"rendered":"

Africa-Press – South-Sudan. <\/strong><\/span>South Sudan\u2019s government is acknowledging its inability to fully implement the 2023\/2024 fiscal budget, blaming a combination of economic woes, security challenges, and external factors.<\/p>\n

In a statement readout by information minister Michael Makuei Lueth yesterday, the government outlined the difficulties the country faces.<\/p>\n

It emphasized the ongoing legacy of internal conflicts.<\/p>\n

\u201cThe negative impact of the infamous internal conflict in December 2013…remains to this day,\u201d the statement said, stating that the activities of key institutions remain weak.<\/p>\n

The statement also highlights the ongoing impact of flooding on oil wells, technical difficulties with pipelines, and threats in the Red Sea hindering oil exports \u2013 South Sudan\u2019s primary revenue source.<\/p>\n

\u201cThe National Revenue Authority is fragile, vulnerable and unable to build in Value Added Tax (VAT) to increase tax proceeds,\u201d the statement reads.<\/p>\n

To address the skyrocketing exchange rate and soaring prices, the government stated it \u201cwill control the market…to save its citizens from the jaws of opportunists.\u201d<\/p>\n

The government outlines plan for \u201cresource mobilization\u201d and fiscal reforms alongside monetary policy tightening by the Bank of South Sudan to stabilize the situation ahead of planned elections in December 2024.<\/p>\n

The government\u2019s statement reveals the depth of South Sudan\u2019s economic crisis. While external factors play a role, the focus on internal conflict and institutional weaknesses suggests deeply rooted challenges for the world\u2019s youngest nation.<\/p>\n

The decision to intervene in the market indicates growing desperation, although the effectiveness of such measures is often debated by economists.<\/p>\n

For More News And Analysis About South-Sudan<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Sudan. South Sudan\u2019s government is acknowledging its inability to fully implement the 2023\/2024 fiscal budget, blaming a combination of economic woes, security challenges, and external factors. In a statement readout by information minister Michael Makuei Lueth yesterday, the government outlined the difficulties the country faces. It emphasized the ongoing legacy of internal conflicts. […]<\/p>\n","protected":false},"author":84,"featured_media":53779,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,265,233],"class_list":["post-53780","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-sudan","tag-south-sudan"],"yoast_head":"\nSouth Sudan blames economic crisis on conflict, oil woes, and external factors - South Sudan<\/title>\n<meta name=\"description\" content=\"South Sudan\u2019s government is acknowledging its inability to fully implement the 2023\/2024 fiscal budget, blaming a combin ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-blames-economic-crisis-on-conflict-oil-woes-and-external-factors\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Sudan blames economic crisis on conflict, oil woes, and external factors\" \/>\n<meta property=\"og:description\" content=\"South Sudan\u2019s government is acknowledging its inability to fully implement the 2023\/2024 fiscal budget, blaming a combin ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-blames-economic-crisis-on-conflict-oil-woes-and-external-factors\" \/>\n<meta property=\"og:site_name\" content=\"South Sudan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-29T11:47:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-29T11:54:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2024\/02\/sm_1709195065.863066.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"508\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-blames-economic-crisis-on-conflict-oil-woes-and-external-factors#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-blames-economic-crisis-on-conflict-oil-woes-and-external-factors\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"South Sudan blames economic crisis on conflict, oil woes, and external factors\",\"datePublished\":\"2024-02-29T11:47:07+00:00\",\"dateModified\":\"2024-02-29T11:54:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-blames-economic-crisis-on-conflict-oil-woes-and-external-factors\"},\"wordCount\":270,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-blames-economic-crisis-on-conflict-oil-woes-and-external-factors#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2024\/02\/sm_1709195065.863066.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Sudan\",\"South-Sudan\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-blames-economic-crisis-on-conflict-oil-woes-and-external-factors#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-blames-economic-crisis-on-conflict-oil-woes-and-external-factors\",\"url\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-blames-economic-crisis-on-conflict-oil-woes-and-external-factors\",\"name\":\"South Sudan blames economic crisis on conflict, oil woes, and external factors - 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