South Sudan Economic Update, December 2020 : Socioeconomic Impacts of COVID-19

The South Sudan economy had recorded a strong growth pickup before the COVID-19 pandemic, with real GDP growth estimated at 9.3% in FY2019/20 but a contraction of -3.4% is projected in FY2020/21. Oil production was estimated at 62.1 million barrels in FY2019/20, representing a 26.5% increase from 49...

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Main Author:	World Bank
Format:	Report
Language:	English
Published:	World Bank, Washington, DC 2021
Subjects:	CONFLICT-AFFECTED STATES CORONOAVIRUS COVID-19 PANDEMIC IMPACT ECONOMIC GROWTH ECONOMIC SHOCK OIL PRICES EXCHANGE RATE FINANCIAL SECTOR DEVELOPMENT FISCAL TRENDS TRADE EXTERNAL SECTOR ECONOMIC OUTLOOK LIVING STANDARDS SOCIOECONOMIC IMPACT LIVELIHOODS SERVICE DELIVERY DISPLACED PERSONS INCOME LOSS
Online Access:	http://documents.worldbank.org/curated/en/440961614950205838/South-Sudan-Economic-Update-Socioeconomic-Impacts-of-COVID-19 http://hdl.handle.net/10986/35217

id	okr-10986-35217
recordtype	oai_dc
spelling	okr-10986-352172021-09-21T14:04:14Z South Sudan Economic Update, December 2020 : Socioeconomic Impacts of COVID-19 World Bank CONFLICT-AFFECTED STATES CORONOAVIRUS COVID-19 PANDEMIC IMPACT ECONOMIC GROWTH ECONOMIC SHOCK OIL PRICES EXCHANGE RATE FINANCIAL SECTOR DEVELOPMENT FISCAL TRENDS TRADE EXTERNAL SECTOR ECONOMIC OUTLOOK LIVING STANDARDS SOCIOECONOMIC IMPACT LIVELIHOODS SERVICE DELIVERY DISPLACED PERSONS INCOME LOSS The South Sudan economy had recorded a strong growth pickup before the COVID-19 pandemic, with real GDP growth estimated at 9.3% in FY2019/20 but a contraction of -3.4% is projected in FY2020/21. Oil production was estimated at 62.1 million barrels in FY2019/20, representing a 26.5% increase from 49.1 million barrels realized in FY2018/19. However, oil production is expected to decline to 58.4 million barrels in FY20/21, as COVID-19 restrictions impacted movement of machinery and OPEC+ production cuts affected production. With COVID-19 restrictions delaying new investment, activity in the oil sector is not expected to improve until FY2022/23 when oil production is projected to rise to 60.2 million barrels. At the same time, the country has experienced concurrent shocks with floods, locust infestation, and higher subnational conflict intensity contributing to a dire economic outlook. Consequently, the economy is projected to contract by -3.4% in FY2020/21, driven by subdued economic activity in both oil and non-oil sectors. Beyond FY2020/21, recovery is projected on the assumption of a rebound in the global economy (that will support higher oil prices, investment, and remittances), commitment to a credible reform process, sustainability of peace, and resilience to climatic shocks 2021-03-08T15:00:26Z 2021-03-08T15:00:26Z 2020-12 Report http://documents.worldbank.org/curated/en/440961614950205838/South-Sudan-Economic-Update-Socioeconomic-Impacts-of-COVID-19 http://hdl.handle.net/10986/35217 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Economic Updates and Modeling Africa Africa Eastern and Southern (AFE) South Sudan
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	CONFLICT-AFFECTED STATES CORONOAVIRUS COVID-19 PANDEMIC IMPACT ECONOMIC GROWTH ECONOMIC SHOCK OIL PRICES EXCHANGE RATE FINANCIAL SECTOR DEVELOPMENT FISCAL TRENDS TRADE EXTERNAL SECTOR ECONOMIC OUTLOOK LIVING STANDARDS SOCIOECONOMIC IMPACT LIVELIHOODS SERVICE DELIVERY DISPLACED PERSONS INCOME LOSS
spellingShingle	CONFLICT-AFFECTED STATES CORONOAVIRUS COVID-19 PANDEMIC IMPACT ECONOMIC GROWTH ECONOMIC SHOCK OIL PRICES EXCHANGE RATE FINANCIAL SECTOR DEVELOPMENT FISCAL TRENDS TRADE EXTERNAL SECTOR ECONOMIC OUTLOOK LIVING STANDARDS SOCIOECONOMIC IMPACT LIVELIHOODS SERVICE DELIVERY DISPLACED PERSONS INCOME LOSS World Bank South Sudan Economic Update, December 2020 : Socioeconomic Impacts of COVID-19
geographic_facet	Africa Africa Eastern and Southern (AFE) South Sudan
description	The South Sudan economy had recorded a strong growth pickup before the COVID-19 pandemic, with real GDP growth estimated at 9.3% in FY2019/20 but a contraction of -3.4% is projected in FY2020/21. Oil production was estimated at 62.1 million barrels in FY2019/20, representing a 26.5% increase from 49.1 million barrels realized in FY2018/19. However, oil production is expected to decline to 58.4 million barrels in FY20/21, as COVID-19 restrictions impacted movement of machinery and OPEC+ production cuts affected production. With COVID-19 restrictions delaying new investment, activity in the oil sector is not expected to improve until FY2022/23 when oil production is projected to rise to 60.2 million barrels. At the same time, the country has experienced concurrent shocks with floods, locust infestation, and higher subnational conflict intensity contributing to a dire economic outlook. Consequently, the economy is projected to contract by -3.4% in FY2020/21, driven by subdued economic activity in both oil and non-oil sectors. Beyond FY2020/21, recovery is projected on the assumption of a rebound in the global economy (that will support higher oil prices, investment, and remittances), commitment to a credible reform process, sustainability of peace, and resilience to climatic shocks
format	Report
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	South Sudan Economic Update, December 2020 : Socioeconomic Impacts of COVID-19
title_short	South Sudan Economic Update, December 2020 : Socioeconomic Impacts of COVID-19
title_full	South Sudan Economic Update, December 2020 : Socioeconomic Impacts of COVID-19
title_fullStr	South Sudan Economic Update, December 2020 : Socioeconomic Impacts of COVID-19
title_full_unstemmed	South Sudan Economic Update, December 2020 : Socioeconomic Impacts of COVID-19
title_sort	south sudan economic update, december 2020 : socioeconomic impacts of covid-19
publisher	World Bank, Washington, DC
publishDate	2021
url	http://documents.worldbank.org/curated/en/440961614950205838/South-Sudan-Economic-Update-Socioeconomic-Impacts-of-COVID-19 http://hdl.handle.net/10986/35217
_version_	1764482572751994880

South Sudan Economic Update, December 2020 : Socioeconomic Impacts of COVID-19

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