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THE INFORMAL SECTOR IN SOUTH SUDAN

According to the IMF Global Economic Outlook in January, South Sudan’s economy was projected to have gained a real GDP increase of 5.6% in 2023 compared to the previous year. As of this year, South Sudan’s GDP was reported to be $8 billion, with a population of 15 Million people—most of whom being youth and women, as inflation continues to bite at an average rate of 21.7% across the country. THE INFORMAL ECONOMY IN SOUTH SUDAN It’s unfortunate the economy of the newest country in the world is hugely informal and heavily relies on humanitarian assistance, Imports and limited government opportunities due to conflicts, flooding and Opaqueness of and zero accountability of resources in public institutions at all levels of Government. The Informal sector in South Sudan accounts for 80% of its GDP——Sector is also responsible for almost 96% jobs in the market across South Sudan. However, Revenues coming from the sector’s investments rarely make the Commissioner General a happy man at the Nati...
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The IMF: a Shylock of the Last Resort

Following the just published economic report of South Sudan by The International Monetary Fund this January, from which its GDP was reported to be $8 Billion, Current A/c Bal. at $0.01 and outstanding debts totaling $159 Million for all 15 Million South Sudanese population in 2023. It is an improved version of the previous report that can clearly signal that future is bright. It seams South Sudanese government is working towards recommendations that were tailored by the World Bank in 2022 while the IMF stands at the doorstep to debt finance economic recovery pathways and resilience in the country. However, The-To-Do-List that was present to the government of South Sudan in order to restore economic resilience recommended: Macroeconomic reforms i.e. Institutionalization of Public Institutions, stick to stabilization paths, restore FX Rate and taming Inflation. Address drivers of fragility, conflicts & ensuring peace is a prerequisite of an inclusive economic recovery Improve Oil Sec...
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The Depreciation of SSP: a thorn in the Tax-Payers flesh

Every month, the value of US Dollar keeps growing new shoots while that of The South Sudanese Pound withers in value every fortnight in South Sudan. Currently, $1 trades against a mid-rate [SSP 690] in the parallel market with an inflation rate of about 21.7% ( a decade low since 2011). It has subsequently led to the life being difficult for 15 Million South Sudanese as 90% of the population is confined to only one meal per a day. The US Dollar’s appreciation against South Sudanese Pound is not only South Sudan’s problem alone but also a regional headache for other member-states in the EAC-Bloc. For instance, $1 trades against Ksh.124, pushing the prices of essential items on an upward trajectory in Kenya, months after new government took office last year. DRIVERS OF THE SSP DEPRECIATION BoSS Inability to Regulate the SSP In 2015, a year after lifting financial distress (Austerity Measures). South Sudan decided to adopt the free market economy and floated its currency. The market was t...
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Understanding Public Sector Accounting in South Sudan

WHAT IS PUBLIC SECTOR ACCOUNTING? The term “Public Sector Accounting” refers to a process of learning, recording, analyzing, interpreting, and communicating financial documents, accounting tools and regulatory acts as used at all levels of government by Accounting practitioners in public institutions, South Sudan. In South Sudan, a Fiscal Year begins on 1st July, and ends on 30th June, in the following year. OBJECTIVES OF PUBLIC SECTOR ACCOUNTING The aim of South Sudan’s government is not to make profit, but to render essential services like Health, Education and Transport to South Sudanese. The Public Sector Accounting can be used to measure revenues (oil revenues and non oil revenues) against state expenses. It can also be used for budgeting, planning and forecasting. Therefore, the overall objectives of the government accounting in South Sudan are as below; reference for accountability tool for budgetary planning & control tool for an objective budgetary reporting provides basis...
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South Sudan: The Climate Change & Green Bankers

The Climate Change has two sides of a coin. It is either; (1) a threat to our lives, or (2) a surety for our future generations free from environmental shocks and Carbon-Related complications or any other forms of external mutation.  For this reason, the Global Warming—currently at (2.0 Celsius) automatically becomes one of the biggest African Problems of our times in the 21st Century, which nevertheless, commanded our collective attention, increased resource mobilization leading to renewed calls for Greener-Financing or Greener-Banking initiatives to reduce emissions to (1.5 Celsius) or lower in the World. The Climate Change in South Sudan Unfortunately, From the last quarter of 2019, towards Covid-19 Pandemic through Flooding, through Ukraine war today, the Climate Change has been paranoidly waking us from a decade long deep sleep and will continue to wake us at the cracks of every dawn in South Sudan from climate nightmares as; Flood, Drought, rising water levels, S...
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South Sudan economic overview in 2023

Authorities in Makuach Payam of Jonglei State defy the municipal order banning them from conducting parallel revenue collection as it is a mandated role of National Revenue Authority in the country. ECONOMIC REPORT ON SOUTH SUDAN AT A GLANCE Projected Real GDP change in 2023 is 5.6% Projected Consumer Price change in 2023 is 21.7% South Sudan population was estimated to be 15 Million Date of membership of South Sudan with IMF was 18/April/2012 Outstanding purchases & loan amounts to $159 Millions. South Sudan Special Drawing Right (SDR) is $43.91 Million. Quota (SDR) is $246 Million. Number of Arrangements since membership date is Two (2) COUNTRY DATA Real GDP for South Sudan____$8M Billions Real GDP Growth change for South Sudan__5.6% Inflation Rate, Average Consumer Price Change for South Sudan___21.7% GDP per Capita ( US Dollars per capita)___$569.41 Implied PPP conversion rate (National currency per international Dollar____SSP 352.57 Unemployment rate change____N/A CURRENT ACCO...
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