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South Sudan Looks to Revenue Diversification

TABJ – South Sudan Minister of Finance Aggrey Sabuni Tisa is urging the country to diversify its economic base so that it collects more revenues from sources other than oil as he presented the 2014-15 budget to lawmakers this week.

Oil brings in the lion's share of South Sudan's revenues, and the government expects it to bring in 8.9 billion South Sudanese pounds in revenue this fiscal year, or nearly 80% of the £11.3 billion budget submitted to parliament this week by President Salva Kiir.

Non-oil revenue is expected to be less than half of what oil brings in. Tisa predicted it will be bring in about £3 billion and will come from sales taxes, customs and excise duties, personal income and business taxes, and license and other fees paid to the government.

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