Ms. Lurit Yugusuk is a public policy analyst and seasoned writer on economic and social justice issues in Africa - courtesy

The 28th St. Petersburg International Economic Forum (SPIEF 2025), organized by the Roscongress Foundation and its partners from 18th – 21st June 2025 under the theme “Shared Values: The Foundations of Growth in a Multipolar World,” brought together over 24,000 participants from 144 countries, at a time when the international economic architecture is increasingly defined by regionalism, resilience, self-sustainability, and resourcefulness. As one of Russia’s most prominent economic convergence platforms, SPIEF 2025 concluded with an ambitious assertion: the world is undergoing profound economic, political, and institutional shifts. In this context, it is imperative that all governments, and especially those in Africa, rethink and reorganize their strategies to better position themselves within the evolving global financial ecosystem.

The key event of the Forum was the plenary session, which featured deliberations from Russian President Vladimir Putin, President of the Republic of Indonesia Prabowo Subianto, Sheikh Nasser bin Hamad Al Khalifa (Representative of the King of Bahrain for Humanitarian and Youth Affairs), Deputy Premier of the State Council of the People’s Republic of China Ding Xuexiang, and Deputy President of the Republic of South Africa Paul Mashatile.

In his address, President Vladimir Putin reiterated that the time to define a sovereign and context-specific economic development path is now, citing the BRICS bloc’s growth from representing 20% to 40% of global GDP for over two decades. More striking was the emphasis on restructuring investment climates, reducing bureaucratic burdens, and embracing technological advancement as core to building resilient, self-determined economies.  As I listened to President Putin, I could not help but reflect on South Sudan’s own economic trajectory—one marred by economic and political instability, over-reliance on oil, inflationary pressures, and a fragile social contract. Though vastly different in scale, power, and history, South Sudan can draw strategic insights from Russia’s assertive economic posture.

Three Economic Pillars for South Sudan’s Strategic Reflection

At the heart of President Putin’s message were three intertwined economic pillars: sovereignty, stability, and self-reliance, each offering valuable takeaways for a country like South Sudan, which stands at a delicate juncture in its economic journey.

1. Economic Sovereignty: Strengthening Currency and Strategic Autonomy

Russia’s economic narrative strongly emphasized monetary sovereignty and financial independence. By deliberately reducing exposure to the US dollar and bolstering its national currency, Russia is asserting greater control over its economic destiny. This pivot reflects a broader strategy to insulate the economy from external shocks and geopolitical vulnerabilities.

For South Sudan, which continues to grapple with currency volatility, inflation, and a dual exchange rate system, the lesson is clear: it must prioritize the stabilization of the South Sudanese Pound through transparent and independent monetary governance. A recalibration of foreign exchange policies, alongside a reduction in market distortions, would build public trust and attract long-term investment. More fundamentally, South Sudan needs to chart a national economic vision rooted in its realities; one that gradually reduces reliance on foreign aid and donor-driven agendas.

2. Economic Stability: Budget Discipline and Shock Absorption Mechanisms

Putin’s remarks underscored Russia’s focus on fiscal discipline, highlighting the importance of maintaining budget surpluses, creating sovereign funds, and engaging in long-term economic planning. These tools serve as shock absorbers in times of uncertainty, enabling a more predictable and resilient financial framework.

In contrast, South Sudan’s fiscal path remains precariously tied to fluctuating oil revenues, which exposes the country to global commodity price shocks and internal budgetary imbalances. To foster stability, South Sudan must commit to prudent budget management and the transparent use of public funds. Establishing a stabilization or sovereign wealth fund would help smoothen revenue flows and support strategic investments. Diversifying the revenue base, especially into non-oil sectors, is also essential to building a more sustainable and shock-resilient economy.

3. Self-Reliance: Building Domestic Production and Reducing Import Dependency

A third core message from SPIEF 2025 was the imperative to strengthen local production systems. Russia’s drive toward import substitution, support for small and medium enterprises (SMEs), and investments in domestic manufacturing signal a strategic move to fortify its internal economic ecosystem.

South Sudan finds itself in a vulnerable position, heavily dependent on imports for even the most basic goods, from food to fuel. Reversing this trend calls for deliberate support to local industries, beginning with agri-processing and rural value chains. The state must also champion public-private partnerships to build infrastructure and unlock latent industrial potential. By creating enabling environments for SMEs, through financial incentives, regulatory reforms, and skills development, South Sudan can ignite grassroots economic transformation and reduce its external dependency.

Bridging Strategy and Society Through Policy Communications

At SPIEF 2025, South Sudan signalled its intent to embrace a more self-reliant and forward-looking economic pathway, anchored not only in fiscal and resource-based reforms but also in bold ambitions for digital transformation. With commitments made toward enhancing national capabilities in Artificial Intelligence (AI), space science, and information systems, the country is positioning itself to participate more meaningfully in a multipolar and technologically evolving global order.

Yet, as South Sudan internalizes the strategic takeaways from the Forum, it must recognize a critical truth: economic transformation is not solely about crafting policies but it is equally about how those policies are communicated, interpreted, and collectively supported across society. The three pillars of sovereignty, stability, and self-reliance cannot stand on technical execution alone. They demand an enabling communications ecosystem that connects strategic intent with public understanding and ownership.

Policy communications, when deployed with clarity and intention, becomes a powerful instrument of governance. It enables stakeholder alignment, fosters public trust, and enhances institutional accountability. By demystifying complex economic choices and translating them into accessible, relevant narratives, policymakers can build a shared national vision, mitigate resistance to change, and elevate the legitimacy of reform efforts.

About the Author

Ms. Lurit Yugusuk is a public policy analyst and writes compelling articles on topics such as the advancement of economic and social justice across Africa through her platform, the Policy O’clock. Her work centers on rethinking how African voices engage with governance, finance, and development agendas in a rapidly evolving global context. 

She can be reached via email on: lurit.p.yugusuk@gmail.com.

Editor’s Note: The views expressed in the above articles, as published by Eye Radio, are entirely those of the writer. Any claims made are the responsibility of the author, not Eye Radio’s.