By Lodu William Odiya
President Salva Kiir Mayardit has tasked the newly appointed finance Minister to take urgent actions to address the country’s economic crisis.
In a statement that was released by the presidential press unit yesterday, Kiir during the swearing in ceremony of the new Minister, President Kiir called for concerted efforts from all stakeholders to address the economic hardships affecting the country.
“President Salva Kiir Mayardit has tasked the newly appointed Finance Minister, Salvatore Garang Mabiordit, with taking urgent action to address country’s economic crisis” the statement partly read.
The statement also noted that he directed the Minister Salvatore to work with key economic institutions to pull the country out of the current economic landscape.
“The Head of State also directed the Minister to work closely with all economic institutions, including the Bank of South Sudan, to address the cash crunch the nation is currently experiencing” the statement partly read.
On his part, Minister Salvatore announced that timely payment of salaries for civil servants and armed forces, clearing outstanding salary arrears and ensuring adequate funding for national priorities such as security and defense as his tip priorities.
He also announced plans to mobilise resources for the country’s upcoming election slated for December this year.
The country’s economy remains heavily dependent on oil exports which accounts for the majority of the government revenue.
Fluctuating global oil prices combined with internal fiscal constraints, had contributed to delayed salary payment for civil servants and arm forces.
Furthermore, Liquidity shortages have also strained commercial banks and disrupted routine financial transactions in parts of this nation.
The leadership transition at the finance ministry comes amidst calls from regional and international partners for deeper fiscal reforms and improved accountability in public spending.