The Minister of Finance estimates that the national income growth rate per person has fallen by at least 70 percent since 2011, making one of the largest economic shocks in the world.
Stephen Dhieu Dau says the government now lacks foreign reserves and has limited capacity to prevent severe currency depreciation and inflation.
Minister Dhieu says South Sudan needs peace and economic reforms for growth and investment.
He tells the parliament that the people will continue to suffer if no action is taken to recover the economy.
The Minister of Finance has proposed strategies of improving non-oil revenue through increasing tax rates for the fiscal year 2016/2017.
Tax rates for alcohol shall be increased by 100 percent, Minister Dhieu proposes in the budget.