By William Madouk
President Salva Kiir Mayardit has put a plan to conduct ‘South Sudan National Economic Conference’ as an antidote to the dwindling economic situation in the country.
The head-of-state directed the Ministry of Finance and Planning together with Central Bank to organize a national conference to chart ways for the economic recovery.
Speaking at the inauguration of first session of the national parliament this year, President Kiir said internal and external shocks have impacted negatively on the economy and depreciation of local currency.
“The Ministry of Finance and Planning and the Bank of South Sudan have tried their best to stabilize the economic situation but this situation continued to persist,” the President said.
“This calls on us to take a broader approach, which is why I am today directing the Ministry of Finance and Planning to organize ‘South Sudan National Economic Conference’,” he added.
President Kiir noted that the conference should complement the ongoing ‘public finance management reforms’ and must draw together all stakeholders to discuss and chart ways to overcome economic challenges.
“This economic conference should bring together all the sectors of our economy and the stakeholders including our developmental partners,” he noted.
“The objectives of this conference will be to address the fundamental challenges that are holding our economy back,” he continued.
The President also stated that the recommendations from the conference will help the government chart a way forward on structural reforms needed to revive the economy.
This proposal comes at a time when the South Sudanese Pound (SSP) is plummeting low against the US dollar leading to increase of the prices for necessary commodities beyond reach for a citizen.
As of Monday, one hundred dollar is selling at SSP 847 at Central Bank and over SSP 90,000 in the black market.
Forcing the consumers now to dig deeper into their pockets to be able to put food on the table.
President Kiir’s state of the nation address at the parliament inauguration meets the expectation of a civil society organization who has been calling on Kiir to address the deteriorating economic crisis in the country.
Executive Director of the Community Empowerment for Progress Organization, Edmund Yakani said that, they expected the president’s speech yesterday (Monday), when he opens parliament, to dwell on issues affecting normal citizens.