{"id":55058,"date":"2024-03-20T09:39:16","date_gmt":"2024-03-20T09:39:16","guid":{"rendered":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/finance-minister-says-govt-spends-more-than-it-generates"},"modified":"2024-03-20T10:02:51","modified_gmt":"2024-03-20T10:02:51","slug":"finance-minister-says-govt-spends-more-than-it-generates","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/finance-minister-says-govt-spends-more-than-it-generates","title":{"rendered":"Finance minister says govt spends more than it generates"},"content":{"rendered":"

Africa-Press – South-Sudan. <\/strong><\/span>New Minister of Finance and Planning Eng. Awow Daniel Chuang said Tuesday the country has not been able to raise enough resources despite the crude oil export.<\/p>\n

Minister Chuang said the annual budget only covers small portion of the government expenditure, adding that the country has a huge deficit without stating the details.<\/p>\n

The finance minister also argues that the challenges facing the financial docket should not be associated with individuals, but rather with the dire shortages of revenue.<\/p>\n

\u201cWe have not been able to raise enough resources to run the government, there has only been deficit,\u201d he said in a speech during his reception ceremony at the Ministry of Finance and planning in Juba on Tuesday.<\/p>\n

Solacing his predecessor, the finance minister said: \u201cI know the challenges that you were going through. It is not a fault of a person; it just happens that we have shortages of resources.\u201d<\/p>\n

\u201cThe resources that are developed in South Sudan is oil, and even if the oil is running, we still have a deficit, the deficit is so huge. When we make our budget, we just put it, but it doesn\u2019t cover anything at all.\u201d<\/p>\n

\u201cThe NRA when they started to do their work, they do it very well, but they also need time, they need to be empowered for them to do their work, and for the institution to function efficiently.\u201d<\/p>\n

Finance minister Chuang said the Central Bank is also having its share of the blames. He asserted that the economic turbulence facing the country is not the making of one person, but the country\u2019s misfortune.<\/p>\n

\u201cThe central bank equally is having difficulties, and these are not their problems, these are the problems of the country so we must understand this.\u201d<\/p>\n

Chuang, a former petroleum minister, takes over from Dr. Barnaba Chol amid economic hardships resulting from dwindling oil export via the crisis-hit Sudan and the Red Sea waters.<\/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. New Minister of Finance and Planning Eng. Awow Daniel Chuang said Tuesday the country has not been able to raise enough resources despite the crude oil export. Minister Chuang said the annual budget only covers small portion of the government expenditure, adding that the country has a huge deficit without stating the […]<\/p>\n","protected":false},"author":84,"featured_media":55057,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,265,233],"class_list":["post-55058","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":"\nFinance minister says govt spends more than it generates - South Sudan<\/title>\n<meta name=\"description\" content=\"New Minister of Finance and Planning Eng. 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