OpEd, Politics

We need to re-visit our economic policies

By Tong Akok Anei Mawien

Worldwide economic work is based on the activities done domestically; financial control in every sector counts as a contribution to economic improvement; these activities include control and empowerment of small-scale businesses, price control, and tax control.

In the equation of export and import, when the country dwells on import so much, this entails that the country is sending money out to other countries in the export of goods and services, and this simply means you are subsidizing the economy of that country.

I know many of our finance leaders have only put down two tools in fighting inflation and this is what is at their tongue tip, many of them could not skip saying our finance policies are Monetary policy, Fiscal policy, yes these are policies that can help in fighting inflation practically, but without any additional activity policy these policies could not stand high inflation alone, these policies need to be backed up by Control in the money supply.

Supply Side Policies and Wage control/price control, I wish someone who introduced these policies to them can come back and add on another alternative, it has been years singing monetary policies and fiscal policies and nothing has changed, we don’t have excise duty because we could not produce and the amount generated in this production is what is lend to financial institutions.

This country is in dire need of practiced economic leadership, not theoretical leadership.

nevertheless, we cannot produce, no production factories, our agriculture could not produce even for one state, other production sectors are sleeping and we only eye on oil, if oil only fits some parts be it individuals or the portion of the country budget well, why not exploring other minerals to fit the vast suffering population.

The country should not only survive on oil only in these hard times, we also have gold as luxuries mineral, uranium, livestock, and fertile land, it’s the right time to explore these minerals officially and build a strong foundation in development for our future generation.

 The Author is an Applied Statistics Master’s Student, University of Juba. He can be reached via Email: tongakok7170@gmail.com/tongakok47@gmail.com; Tel: 0929300008/0988011119

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