The National Ministry of Finance and Planning has set to hold an Economic conference hoping to tackle the financial challenges facing South Sudan.
Hon. Dier Tong Ngor, Minister of Finance told the reporters in Juba that the conference will bring all stakeholders across the country on 4th- 8th September this year
Dier said the first-ever conference will help South Sudan to diversify, inclusive, and sustainable economic growth.”
“In recognizing the economic challenges facing South Sudan that require a more holistic approach to address multi-sectorial and multi-faceted strategies, the president of South Sudan directed the Minister of Finance and planning to organize a National Economic Conference that will advance the ongoing Public Financial Management.”
Hon. Dier further highlighted the conference will allow the economic sector and other stakeholders to present their main concerns and suggests recommendation to address the challenges.
“The National Economic Conference will strive to achieve more objectives that will give space to the economic sector and other stakeholders to present their main concerns and challenges on the economic situation in South Sudan, and proposals to address them.”
The conference will help South Sudan to identify policy areas that will move South Sudan out of oil revenues dependency, “says Dier Tong.”
“Also the conference will help us to identify key policy priorities to manage current and medium-term economic challenges, it will also help us identify policy areas that move South Sudan out of oil dependency into a vibrant economy.”
He states that there is a need to see how the government can invest the oil money into other sectors because the oil will not remain forever.
“Even if we have enough oil money for the budget, still we must recognize that oil is a non-renewable resource we are not going to have it forever. So it will be a good time for us to think of how to diversify our economy.”
Minister Dier encourages the citizens to change the narrative of depending only on oil money than investing in agriculture and other mineral resources.