South Sudan puts hope in oil and gas production to finance $1.6 billion budget

(Bloomberg) – South Sudan is pegging its hopes on the resumption of crude oil production to finance a $1.6 billion budget for the current fiscal year.

The government proposes to spend 4.172 trillion South Sudan pounds in the budget year through June, according to a speech to lawmakers by Minister of Finance Marial Dongrin Ater. The Treasury will seek grants and concessional loans to bridge the deficit, according to the speaking notes…