President Salva Kiir Mayardit and leaders from economic institutions convened a crucial meeting on Monday this week to seek avenues for addressing the drastic inflation.
This followed a week-long high increase in prices of transport fares and commodities in the market triggered by the high exchange rate of US dollars against the South Sudanese pound.
President Kiir has stressed the importance of collaboration among government institutions to stabilize prices, promote economic growth, and ensure financial stability.
The Head of State directed members of the Economic Cluster to work on collaborative efforts, aimed at taming inflation and steering the nation’s economy towards sustainable growth.
According to the Presidential Affairs Minister Mister Bangasi Joseph Bakosoro , both President Kiir and the members present resolved to increase non-oil revenue collections and supply enough food into the markets at subsidized prices.
He added that the leaders also resolved to supply enough fuel to the country, allocate enough money to agriculture, and auction off a substantial amount of hard currency to stabilize the exchange rate.
They also resolved to ban the selling of dollars and other currencies on the streets and ban all illegal checkpoints throughout the country. The president then directed the security forces to implement the directives immediately.
The outcome of the meeting underscores a united commitment from the leaders to battle inflation and foster a conducive economic environment.