JUBA (Reuters) - South Sudan 's financial method presented a 2012/13 bill that aims to cut back state spending, speed up taxation revenues and elevate loans to make up is to loss of roughly all state revenues with the country's shutdown of oil prolongation in January.
The draft bill put annual spending at 6.4 billion South Sudanese pounds - roughly $1.3 billion at new black marketplace rates - of that about 2.9 billion pounds would go to salaries.
Landlocked South Sudan, that seceded from Sudan a year ago, contingent on oil for about 98 percent of its state revenues , but halted outlay in January in a quarrel with Khartoum over how sufficient it should pay to trade around pipelines in Sudan.
The unexpected shortfall of state revenues and unfamiliar banking caused the bruise to break neatly on the black marketplace and pushed up the prices of food and other line in the import-dependent nation.
"This is not the bill we would have longed for to present. This is a bill for tough and undetermined times," Finance Minister Kosti Manibe Ngai mentioned in a duplicate of a display on Tuesday to South Sudan's council seen by Reuters on Wednesday.
The shutdown led to a "massive and rare startle to our economy," it said, adding that whilst the government's unfamiliar banking extra savings had helped pillow the impact, "these will not final is to entire year."
To help make up is to loss, the supervision directed to speed up non-oil income for 2012-13 to 700 million pounds - 440 million from taxes and 260 million from fees, charges and other "non-tax revenues," it said.
Another 1 billion pounds would be drawn down from unfamiliar banking pot at the beginning of July, the display said.
The rest would be financed with made at home borrowing from blurb banks - that the apportion estimated could elevate other 1 billion pounds - and the sale of inorganic substance and mining concessions and unfamiliar loans.
"It is critical to note that these loans are not certain, and might not be offering on decent terms. If loans and other sources of financing are not forthcoming, then we will have no selection but to lower expenditure further," the display added.
Other measures enclosed a 50 percent cut in housing allowances of national supervision employees, the rejecting of "job definite allowances" for many employees, and the finale of all overtime and incentives, it said.
The bill display estimated donors were formulation to spend 3.9 billion pounds in add-on to the supervision spending.
The display mentioned the supervision would "not danger an blast of acceleration by printing allowance or by extreme borrowing from the Bank of South Sudan."