A round-up of public finance news stories from theMiddle East & Africa you might have missed this week (June 17–21).

South Sudan could slash spending if oil slows

South Sudan’s Council of Ministers has submitted a $5.6bn dollar national budget to Parliament for the new fiscal year, more than double the country’s current austerity budget. But officials warned that they were prepared to slash spending if oil production was shut down again. (Voice of America, US)

Ghanaian government adopts cashless payment system

The Bank of Ghana (BoG) says there is adequate infrastructure to promote the government’s efforts at operating a cashless economy. (Ghana Web)

Oman's 2012 macroeconomic trends impressive

The macroeconomic developments in Oman continued to remain impressive for the third consecutive year, the Central Bank of Oman stated in its Annual Report. The three years from 2010 to 2012 were characterised by high growth and low inflation. (Omannet.om)

Kenyan devolution poses a challenge to the budget, says World Bank

The devolution process will continue to pose a great challenge to Kenya’s national budget for the next three years, according to the World Bank. (allAfrica.com)

Israeli Parliament approves first reading of budget

Israel's parliament has approved the first reading of the austerity budget bill proposed by Finance Minister Yair Lapid for the years 2013 and 2014. The Finance Ministry said the budget would narrow gaps, boost participation in the workforce and ‘ensure that financial responsibility is shared equally’. (Haaretz, Israel)