Minister Presents 2012/2013 Supplementary Budget Realignment
The Minister of Finance and Economic Planning Kosti Manibe on Monday presented the 2012/2013 supplementary budget realignment to the National Legislative Assembly. 28 May 2013 The Minister of Finance and Economic Planning Kosti Manibe reading the 2012/2013 budget at a previous session. [File] By Misuk Moses Mule JUBA, 28 May 2013 [Gurtong] - Minister Kosti said the approved resource envelope for the 2012/13 included project loans, petroleum and mining concessions SSP 4.7billion. He however said to date, loans and oil revenues have added to SSP 3.5billion, leaving a deficit of SSP 1.2billion loans to be secured in the final two months of the fiscal year. He said non oil revenues have increased dramatically since last year with significant increases expected in the next two months. “We recommend increases of SSP 708million to cover debt services and other essential spending as detailed. Accordingly, it will be necessary to reduce unspent operating and capital budget balances by SSP 708 million. All other requests must be deferred at least until oil revenues increase,” he said. Hon. Kosti said that the execution of the 2012/13 austerity budget required some spending not included in the Appropriation Act of 2012/13. These increases are for: •Ministry of Defense for increased parade and for full housing allowances for the month of July 2012 (SSP 214 million). •Ministry of Roads and Bridges for continued construction of roads (SSP 150million). •Bank of South Sudan for debt services costs related to the loan to capitalize the bank and the charges for processing treasury bills (SSP 120 million). •Ministry of Finance and Economic Planning for Dura claims approved by the auditors from the World Bank, the cost of printing new financial forms for all states and national ministries, foreign travels related to the negotiations in Addis Ababa and seeking loans to finance government operations and cost of absorbing the Customs Directorate (SSP 90million). •Ministry of Foreign Affairs for salaries and operation costs for additional embassies (SSP 60million). •Ministry of Transport for work on new terminal building at Juba International Airport (SSP 26 million). The minister said despite the loss of 98% of the country’s revenue, government has pursued prudent fiscal and monetary policies that have stabilized the macro economy and protected core functions of government. Posted in: Home, Governance -- You received this message because you are subscribed to the Google Groups "South Sudan Info - The Kob" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/SouthSudanKob/CAJb14ooicuyYZuH-bJQwzhcD4Jf%3Djd_Oq05%3DRUaRVoQq3-Xm_g%40mail.gmail.com?hl=en-US. For more options, visit https://groups.google.com/groups/opt_out.
