By Bida Elly David<\/p>\n
<\/p>\n
South Sudan’s economic and policy experts are criticizing the handling of the ongoing economic crisis.<\/strong><\/em><\/p>\n Economic and policy analysts say the government policies miss out the long-term vision.<\/p>\n Abraham Malieth, an economic analyst and lecturer, argues that the government’s focus on dollar auctions is insufficient.<\/p>\n “We need to invest in agriculture to ensure food security,” he advised.<\/p>\n Policy analyst Boboya James, Executive Director of a think tank, an Institute for Social Policy and Research (ISPR), criticizes politicizing of economic issues.<\/p>\n “Oil money should be used for agricultural equipment, not temporary solutions,” he stated.<\/p>\n Boboya emphasizes the importance of domestic food production to stabilize the economy by utilizing oil revenue for equipment and infrastructure to empower farmers.<\/p>\n Both analysts believe a sound economic policy and increased local food production are crucial to strengthening the SSP against the dollar.<\/p>\n The analysts emphasize the need for concrete action to alleviate the suffering of South Sudanese citizens.<\/p>\n Last week, the national oil and gas company, (Nile Petroleum Corporation) Nilepet, disclosed plans to upgrade Bentiu oil refinery in a bid to supply fuel to domestic market to cushion the economy.<\/p>\n Inflation remains high despite recent measures like currency auctions and crackdowns on money traders being employed by the central bank to tame the hyperinflation economy.<\/p>\n The US dollar continues to gain value against the South Sudanese Pound (SSP) in the foreign exchange market.<\/p>\n On Friday, this publication established that the exchange rate in the parallel market is climbing back to its high, with $1 selling for SSP 2,500 and buying for SSP 2,600. This significantly surpasses the Central Bank’s official rates of SSP 1,579 (selling) and SSP 1,532 (buying).<\/p>\n <\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" By Bida Elly David South Sudan’s economic and policy experts are criticizing the handling of the ongoing economic crisis. Economic and policy analysts say the government policies miss out the long-term vision. Abraham Malieth, an economic analyst and lecturer, argues that the government’s focus on dollar auctions is insufficient.[Read More…]<\/a><\/p>\n","protected":false},"author":4,"featured_media":24101,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[80,79],"tags":[],"class_list":["post-24100","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","category-news"],"jetpack_featured_media_url":"https:\/\/www.onecitizendaily.com\/wp-content\/uploads\/2024\/04\/Bank-note-of-100-Bundles-sealed.jpg","_links":{"self":[{"href":"https:\/\/www.onecitizendaily.com\/index.php\/wp-json\/wp\/v2\/posts\/24100","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.onecitizendaily.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.onecitizendaily.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.onecitizendaily.com\/index.php\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.onecitizendaily.com\/index.php\/wp-json\/wp\/v2\/comments?post=24100"}],"version-history":[{"count":1,"href":"https:\/\/www.onecitizendaily.com\/index.php\/wp-json\/wp\/v2\/posts\/24100\/revisions"}],"predecessor-version":[{"id":24102,"href":"https:\/\/www.onecitizendaily.com\/index.php\/wp-json\/wp\/v2\/posts\/24100\/revisions\/24102"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.onecitizendaily.com\/index.php\/wp-json\/wp\/v2\/media\/24101"}],"wp:attachment":[{"href":"https:\/\/www.onecitizendaily.com\/index.php\/wp-json\/wp\/v2\/media?parent=24100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.onecitizendaily.com\/index.php\/wp-json\/wp\/v2\/categories?post=24100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.onecitizendaily.com\/index.php\/wp-json\/wp\/v2\/tags?post=24100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}