By Bida Elly David
South Sudan government sets to conduct a national economic conference scheduled for September to rescind the crisis in the country.
The national ministry of finance and economic planning launched the preparatory initiative of the conference on Wednesday, at the ministry’s headquarters in Juba.
“The forum will help the government brainstorm and identify key policy priorities to manage the current and medium-term economic challenges,” Dier Tong Ngor, the minister of finance and economic affairs said.
According to the minister, the economic conference aims at mitigating the ongoing economic crisis that has impeded the entire citizens of South Sudan.
“Government has registered all the economic hardships facing its own citizens in one way or the other” he added.
Ngor said that the economic forum will further enable the government to improve on resource mobilization and ensure prudent spending at all levels.
He reiterated that the forum will identify policy areas that will move South Sudan out of oil-revenue dependency into non-oil revenue sector for economic stability.
“It will also help to review the framework for state allocation and transfers,” he said
On the monetary and fiscal challenges, Ngor said the forum will find ways for Ministry of Finance to identify appropriate policies to strengthen the South Sudanese Pound against foreign currencies.
“Through the conference, we shall identify appropriate fiscal and monetary policies for the nation to achieve macroeconomic stability,” he said.
He added that it will also inform the economic sector and other stakeholders on the current status of the economy.
Moreover, Tong underscored that the event will also enhance project implementation arrangements to phase out third parties that will coordinate and collaborate mechanisms between national and state ministries of finance.
The minister, in addition, recounted that the outcome of the national economic conference will be used to stabilize the market, weakened by inconsistent inflation.
However, Dior said, the Ministry of Finance through the government is working towards making South Sudan a business Country suitable to the globe.
“The outcome of the national economic conference will be used to promote a policy dialogue aimed at achieving market stability, effective planning and budgeting” he stressed.
The economic conference will send positive signals on the government and present South Sudan as a business investment destination to the world.
On the 17th –March-2023, President Salva Kiir directed the minister of finance and economic planning to organize a national economic conference to advance public financial management reforms.
The president, while addressing the parliament after recess, said the conference would set a roadmap for achieving macroeconomic stability and future sustainable economic growth for the Country.