News / / 04.17.19

Reuters: South Sudan economy to rebound on oil output, peace deal, finance minister says

South Sudan will run a balanced budget this year and its economy will rebound as oil production rises and a peace deal progresses, the country’s finance minister said on Wednesday.

The oil-dependent economy, ruined since civil war broke out six years ago, shrank 1.5 percent in 2018. The country relied on international donors to fill its budget deficit and spending was largely unrestrained.

This year, gross domestic product is expected to grow by 3 to 3.5 percent, Salvatore Garang Mabiordit told Reuters in an interview in Dubai.

An increase in oil production will allow for a balanced budget…

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