South Sudan Economic Update, June 2021 : Pathways to Sustainable Food Security

South Sudan Economic Update, June 2021 : Pathways to Sustainable Food Security

The South Sudan economy is projected to contract by 4.1 percent in FY2020/21, with growth negatively affected by the impact of the COVID-19 pandemic, lower oil production, floods, and increased conflict intensity in parts of the country. With the economic decline in FY2020/21, living conditions have...

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Main Author: World Bank
Format: Report
Language:English
Published: World Bank, Washington, DC 2021
Subjects:
ECONOMIC GROWTH
ACCESS TO SERVICES
LIVING STANDARDS
MONETARY POLICY
FISCAL TRENDS
TRADE
ECONOMIC OUTLOOK
RISKS
FOOD SECURITY
SUSTAINABLE AGRICULTURE
Online Access:http://documents.worldbank.org/curated/en/254381624340029941/South-Sudan-Economic-Update-Pathways-to-Sustainable-Food-Security
http://hdl.handle.net/10986/35788
id okr-10986-35788
recordtype oai_dc
spelling okr-10986-357882021-09-16T20:16:17Z South Sudan Economic Update, June 2021 : Pathways to Sustainable Food Security World Bank ECONOMIC GROWTH ACCESS TO SERVICES LIVING STANDARDS MONETARY POLICY FISCAL TRENDS TRADE ECONOMIC OUTLOOK RISKS FOOD SECURITY SUSTAINABLE AGRICULTURE The South Sudan economy is projected to contract by 4.1 percent in FY2020/21, with growth negatively affected by the impact of the COVID-19 pandemic, lower oil production, floods, and increased conflict intensity in parts of the country. With the economic decline in FY2020/21, living conditions have deteriorated, with some 8.3 million estimated to need humanitarian assistance in 2021, reflecting an increase of 800,000 in the absolute number of people in need from 2020. At the same time, crisis-level food insecurity persists despite increased agricultural production, with exceptionally high food prices constraining access to food for large segments of population. Consequently, it is estimated that more than half of the population (7.2 million people) are facing severe food insecurity (IPC Phase 3 and above) in the period from April to July 2021. However, the fiscal deficit is expected to narrow to about 2.7 percent of GDP, reflecting higher than projected oil and non-oil revenue and the impact of fiscal consolidation efforts. In addition, the current account deficit is expected to narrow to 7.1 percent of GDP in FY2020/21, from 7.9 percent in FY2019/20, reflecting lower financial transfers to Sudan and lower net outflows of oil-related investments. Beyond FY2020/21, the economy may benefit from higher investments in the oil sector, as well as recovery in the nonoil sectors. Consequently, the economy is expected to recover faster than earlier estimated, with projected growth rates of 2.6 percent in FY2021/22 and 3.0 in FY2022/23. However, this outlook is uncertain and is conditional on peace and stability, commitment to economic and public finance management reforms, improved budgeting and allocation of resources, and stabilization of smallholder agriculture. 2021-06-22T12:18:32Z 2021-06-22T12:18:32Z 2021-06 Report http://documents.worldbank.org/curated/en/254381624340029941/South-Sudan-Economic-Update-Pathways-to-Sustainable-Food-Security http://hdl.handle.net/10986/35788 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 ECONOMIC GROWTH
ACCESS TO SERVICES
LIVING STANDARDS
MONETARY POLICY
FISCAL TRENDS
TRADE
ECONOMIC OUTLOOK
RISKS
FOOD SECURITY
SUSTAINABLE AGRICULTURE
spellingShingle ECONOMIC GROWTH
ACCESS TO SERVICES
LIVING STANDARDS
MONETARY POLICY
FISCAL TRENDS
TRADE
ECONOMIC OUTLOOK
RISKS
FOOD SECURITY
SUSTAINABLE AGRICULTURE
World Bank
South Sudan Economic Update, June 2021 : Pathways to Sustainable Food Security
geographic_facet Africa
Africa Eastern and Southern (AFE)
South Sudan
description The South Sudan economy is projected to contract by 4.1 percent in FY2020/21, with growth negatively affected by the impact of the COVID-19 pandemic, lower oil production, floods, and increased conflict intensity in parts of the country. With the economic decline in FY2020/21, living conditions have deteriorated, with some 8.3 million estimated to need humanitarian assistance in 2021, reflecting an increase of 800,000 in the absolute number of people in need from 2020. At the same time, crisis-level food insecurity persists despite increased agricultural production, with exceptionally high food prices constraining access to food for large segments of population. Consequently, it is estimated that more than half of the population (7.2 million people) are facing severe food insecurity (IPC Phase 3 and above) in the period from April to July 2021. However, the fiscal deficit is expected to narrow to about 2.7 percent of GDP, reflecting higher than projected oil and non-oil revenue and the impact of fiscal consolidation efforts. In addition, the current account deficit is expected to narrow to 7.1 percent of GDP in FY2020/21, from 7.9 percent in FY2019/20, reflecting lower financial transfers to Sudan and lower net outflows of oil-related investments. Beyond FY2020/21, the economy may benefit from higher investments in the oil sector, as well as recovery in the nonoil sectors. Consequently, the economy is expected to recover faster than earlier estimated, with projected growth rates of 2.6 percent in FY2021/22 and 3.0 in FY2022/23. However, this outlook is uncertain and is conditional on peace and stability, commitment to economic and public finance management reforms, improved budgeting and allocation of resources, and stabilization of smallholder agriculture.
format Report
author World Bank
author_facet World Bank
author_sort World Bank
title South Sudan Economic Update, June 2021 : Pathways to Sustainable Food Security
title_short South Sudan Economic Update, June 2021 : Pathways to Sustainable Food Security
title_full South Sudan Economic Update, June 2021 : Pathways to Sustainable Food Security
title_fullStr South Sudan Economic Update, June 2021 : Pathways to Sustainable Food Security
title_full_unstemmed South Sudan Economic Update, June 2021 : Pathways to Sustainable Food Security
title_sort south sudan economic update, june 2021 : pathways to sustainable food security
publisher World Bank, Washington, DC
publishDate 2021
url http://documents.worldbank.org/curated/en/254381624340029941/South-Sudan-Economic-Update-Pathways-to-Sustainable-Food-Security
http://hdl.handle.net/10986/35788
_version_ 1764483778798944256

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