South Sudan Economic Update, 2017 : Taming the Tides of High Inflation

The Republic of South Sudan emerged in 2011 from decades of conflict as the world’s newest independent country, with huge state and peace building challenges, and extreme institutional and socio-economic deficits.By August 2016, South Sudan display...

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Main Author: World Bank
Format: Report
Language:English
en_US
Published: Washington, DC 2017
Subjects:
Online Access:http://documents.worldbank.org/curated/en/806291508505062484/South-Sudan-economic-update-taming-the-tides-of-high-inflation-policy-options
http://hdl.handle.net/10986/28560
id okr-10986-28560
recordtype oai_dc
spelling okr-10986-285602021-05-25T09:05:03Z South Sudan Economic Update, 2017 : Taming the Tides of High Inflation World Bank ECONOMIC GROWTH POVERTY FOOD SECURITY INFLATION The Republic of South Sudan emerged in 2011 from decades of conflict as the world’s newest independent country, with huge state and peace building challenges, and extreme institutional and socio-economic deficits.By August 2016, South Sudan displayed all the signs of macroeconomic collapse,with output contracting, and inflation and parallel exchange market premium spiraling.The fiscal deficit remained high, although its exact magnitude is difficult to estimate given the lack of real time data.The financing situation is dire. Monetization of the fiscal deficit explains to a large extent the high inflation, although there are some indications that borrowing from theBank of South Sudan had been limited in recent months.The current account deficit is estimated to have narrowed to about 1.6 percent in FY2016/17 from about 6.1 percent of GDP in FY2015/16.The South Sudanese Pound (SSP) continued to depreciate.Restoring peace, including reform of the security sector, followed by efforts to rein in public sector borrowing to levels that avoid printing money are necessary preconditions for any stabilization program.The FY17/18 National Budget aims to restore macroeconomic stability, but lacks credibility.Even if the economy showed some recovery starting in 2018, projections suggest that poverty will continue to rise through 2019 as economic growth is likely to be surpassed by population growth. 2017-10-23T22:19:59Z 2017-10-23T22:19:59Z 2017 Report http://documents.worldbank.org/curated/en/806291508505062484/South-Sudan-economic-update-taming-the-tides-of-high-inflation-policy-options http://hdl.handle.net/10986/28560 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC Economic & Sector Work :: Economic Updates and Modeling Economic & Sector Work Africa South Sudan
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic ECONOMIC GROWTH
POVERTY
FOOD SECURITY
INFLATION
spellingShingle ECONOMIC GROWTH
POVERTY
FOOD SECURITY
INFLATION
World Bank
South Sudan Economic Update, 2017 : Taming the Tides of High Inflation
geographic_facet Africa
South Sudan
description The Republic of South Sudan emerged in 2011 from decades of conflict as the world’s newest independent country, with huge state and peace building challenges, and extreme institutional and socio-economic deficits.By August 2016, South Sudan displayed all the signs of macroeconomic collapse,with output contracting, and inflation and parallel exchange market premium spiraling.The fiscal deficit remained high, although its exact magnitude is difficult to estimate given the lack of real time data.The financing situation is dire. Monetization of the fiscal deficit explains to a large extent the high inflation, although there are some indications that borrowing from theBank of South Sudan had been limited in recent months.The current account deficit is estimated to have narrowed to about 1.6 percent in FY2016/17 from about 6.1 percent of GDP in FY2015/16.The South Sudanese Pound (SSP) continued to depreciate.Restoring peace, including reform of the security sector, followed by efforts to rein in public sector borrowing to levels that avoid printing money are necessary preconditions for any stabilization program.The FY17/18 National Budget aims to restore macroeconomic stability, but lacks credibility.Even if the economy showed some recovery starting in 2018, projections suggest that poverty will continue to rise through 2019 as economic growth is likely to be surpassed by population growth.
format Report
author World Bank
author_facet World Bank
author_sort World Bank
title South Sudan Economic Update, 2017 : Taming the Tides of High Inflation
title_short South Sudan Economic Update, 2017 : Taming the Tides of High Inflation
title_full South Sudan Economic Update, 2017 : Taming the Tides of High Inflation
title_fullStr South Sudan Economic Update, 2017 : Taming the Tides of High Inflation
title_full_unstemmed South Sudan Economic Update, 2017 : Taming the Tides of High Inflation
title_sort south sudan economic update, 2017 : taming the tides of high inflation
publisher Washington, DC
publishDate 2017
url http://documents.worldbank.org/curated/en/806291508505062484/South-Sudan-economic-update-taming-the-tides-of-high-inflation-policy-options
http://hdl.handle.net/10986/28560
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