Engineer Awow Daniel, the Minister of Finance and Planning - Credit: Office of the President - March 19, 2024

The National Minister of Finance and Economic Planning has announced that the cost of food and fuel is expected to decrease next week, attributing it to robust measures implemented by the government.

President Salva Kiir on Wednesday chaired the Economic Cluster Meeting and announced plans to inject hard currency into the market in a bid to combat the current inflation.

Finance Minister Awow Daniel says the citizens will also notice a reduction in the exchange rate.

He adds that the economic cluster is reviewing the market every week to see the kind of intervention needed to stabilize the market.

Awow further stresses that the government will next embark on food production by supporting the farmers through the Agriculture Bank of South Sudan.

The finance minister made the remarks after the economic cluster meeting on Wednesday, May 15, 2024.

“Our people should be assured that within today, tomorrow and next week you will see the difference in the prices,” affirmed Awow.

He further explained, “The essential commodities especially food, fuel and also the exchange rate because we know exchange rates have gone up because of the lack of hard currency in the market.”

Awow emphasized, “These are the directives of the President and the whole government led by the Vice President for the Economic Cluster.”

Continuing, he stated, “We are working every week to make sure that we review the market and see what kind of intervention is needed to have a stable market.”

“We will also move from there to food production the President made it in his policy statement that we shall move to food production so we are going to support farmers through the Agriculture Bank of South Sudan so that they can produce food within this year.”