International Monetary Fund or IMF said South Sudan’s economic outlook was improving.
In a statement on Wednesday after consultation on rapid credit facility IMF said oil production was rising and inflation declining.
The mission welcomed the 2013/2014 budget which strikes the right balance between increasing spending on priority areas and maintaining economic stability.
The mission encouraged plans to lift fiscal austerity gradually as the oil revenue becomes more certain to move forward with key reforms including the enactment of the Petroleum Revenue Management Act.
IMF stressed the need for careful and transparent management of South Sudan’s abundant natural resources and investments in health, education, public infrastructure and
poverty reduction.
Discussions on possible IMF Rapid Credit Facility financial support and a government program are advancing and could be concluded soon.