Insecurity, dependency drivers to economic recession

By Bida Elly David

Economic analyst has said the continuous recession of the country’s economy transpired by alarming insecurity, passive promotion of domestic production and high dependency on foreign goods.

Speaking to No.1 Citizen Daily Newspaper yesterday, Abraham Mathoc, one of the economic analysts and the Vice Chancellor at Dr. John Garang Memorial University of Science and technology warned of a serious decline of the country’s economy if gov’t failed to improve on market economy controlled by monopolist and the alarming insecurity in bushes.

The analyst stated that the South Sudan government depends only on crude oil that the country trades internationally.

He emphasized that government should use money generated from oil revenue as a mechanism to improve and restore the fallen agricultural sector countered by high dependency on foreign goods.

“The issue of insecurity has threatened many farmers who would like to invest in the farming sector through their desire and will. The continuous organized armed men in most of the bushes across the country have created fear and threats on citizens who want to farm for commercial and subsistence use,” the analyst said.

“As South Sudanese, we want to develop in the agricultural sector but the on-going insecurity can’t give us the space to exercise the activity,” he added.

Mathoc also termed the on-going insecurity as an organized entity by group of people who aimed at meeting their rights by pinching the citizens or spoiling the whole system. 

He added that the instrument used by the Central Bank to auction dollar at the exchange market rate as the mechanism to control market cannot help at this alarming situation, rather it jeopardizes the economy further.

“The only instrument of auctioning dollar being used now by the Central Bank to control the market is a less reasonable tool to be used at this moment. Once prices of commodities rise, they will never come back. They will persistently skyrocket what so ever way could be done,” the vice chancellor said.

He reiterated that, high dependency on relief aid is one of the impeding factors that has contributed to the current economic recession, where everyone wants free things. However, he called on citizens to stop the tendency of dependency, and focus on how to improve the economy.

“This tendency of relying on relief should be forgotten by us. If we don’t get out of relief, then we are not in an independent Country and we have not liberated ourselves. I am appealing to the government and those causing insecurities in the wilderness to dialogue and find amicable solutions to such situation where every citizen is going hungry, sick and tired,” he stated.  

At the same note, he said that economic stability will emerge if government intervene and introduce development economic system, where they centralize and control the market, and hence reduce monopoly powers over dominance.

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