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WB - South Sudan Economic Update : Socioeconomic Impacts of COVID-19

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Document Type: Informes y evaluaciones , COVID-19
Document Type: English
Publish Date: 16 February 2022 (9 months ago)
Upload Date: 18 February 2022 (9 months ago)
Downloads: 274

WB - South Sudan Economic Update : Socioeconomic Impacts of COVID-19

Document Type: Informes y evaluaciones , COVID-19
Document Language: English
The South Sudan economy had recorded a strong growth pickup before the COVID-19 pandemic, with real GDP growth estimated at 9.3 percent in FY2019/20 but a contraction of -3.4 percent is projected in FY2020/21. Oil production was estimated at 62.1 million barrels in FY2019/20, representing a 26.5 percent 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 percent in FY2020/21, driven by subdued economic

Partners

  • World Bank

Sectors

  •  Livelihood & Social cohesion

Locations

  • South Sudan
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