National, News

Economic Conference set for next month

By William Madouk

A national economic conference to address urgent issues facing the economy of South Sudan is expected on September 4th–8th, 2023, said the minister of Finance, Dr. Bak Barnaba Chol.

The four-day economic conference will be held in Juba under the theme “Towards a Diversified, Inclusive, and Sustainable Economic Growth.”

The event to be attended by scholars, think tanks, policymakers, and analysts, will play crucial policy roles in reshaping South Sudan’s economic future.

Addressing the media, Minister Bak informs all the economic sectors, stakeholders, and development partners about the current status of public financial management reforms, the achievements and existing challenges.

“Again, we also want to allow the economic sectors and the stakeholders to present their views on the main concerns and challenges of the economic situation in South Sudan and their proposals with regard to the transformation agenda for the economy,” he continued.

He stated that the forum would identify key policy priorities to manage the current mid-term economic challenges that the government is trying to address as well as reduce oil dependency by diversifying the economy.

Bak anticipates identifying appropriate fiscal and monitoring policies for the nation to achieve microeconomic stability.

“Also, to improve on resource mobilization and prudent spending at all levels of government,” the minister stressed.

According to the minister, the conference would improve coordination and collaboration mechanisms between the minister of finance and state ministries of finance.

Minister Bak stated that the outcome of the national economic conference will be used to promote policy dialogue aimed at achieving microeconomic stability and sustainable resource mobilization.

Also, to achieve effective planning and budgeting, prudent resource allocations, government spending organization capacity, and strengthening and installing overall intergovernmental fiscal discipline

“And presenting South Sudan as both a business and investment destination to the world is the objective of the conference,” Bak explained.

The conference comes nearly five months after President Salva Kiir directed the Ministry of Finance and Planning to devise means to address the budding economic crisis.

President Kiir also asserted that the conference shall bring together all stakeholders to deliberate and address the fundamental economic challenges that are facing the country.

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