Dongrin unveils comprehensive economic recovery plan
The national Minister of Finance and Planning has outlined a series of new economic interventions aimed at revitalizing the country’s economy.
Dr. Marial Dongrin Ater provided an in-depth update on the latest economic developments during a comprehensive press briefing held on Monday, September 16, 2024.
He shared significant steps being taken to enhance South Sudan’s economic performance. One of the key areas of focus is revenue mobilization.
Revenue Mobilization and Oil Production
According to Dr Dongrin, the Ministry of Finance and Planning is collaborating closely with the South Sudan Revenue Authority to streamline revenue collection processes and improve tax compliance.
He says, additionally, progress has been reported on resuming oil production from the Dar Blend in Upper Nile State.
Dr Dongrin expressed optimism about a forthcoming breakthrough that could boost the country’s oil output.
Securing Financial Support
Minister Dongrin stated that the government is also actively engaging with bilateral and multilateral partners to secure concessional loans and grants.
He says these funds are intended to address pressing economic challenges and support critical sectors of the economy.
Digital Finance and Financial Inclusion
The Minister pointed out that a major initiative announced involves advancing digital finance.
According to Dongrin, the Ministry will now handle salaries and operating costs for Ministries, Departments, and Agencies through bank accounts.
He says this move is set to enhance financial efficiency, reduce risks related to excessive cash circulation, and improve transparency.
Dr Dongrin says the banking sector will simplify electronic transaction processes, and public awareness campaigns on mobile banking will be intensified.
Addressing Food Security
In efforts to address food security, Dongrin says the Ministry of Trade and Industry is implementing measures to ensure a steady supply of essential commodities.
According to the Minister, the goal is to mitigate food shortages and keep prices affordable for all South Sudanese.
Dr Dongrin assured the public of the government’s commitment to these economic reforms.
He stated, “I assure the public that the government is determined to continue strengthening our currency, stabilize the market, and foster a conducive environment for economic growth. This momentum will be maintained to overcome the prevailing challenges and achieve prosperity.”
The Minister of Finance stated that this comprehensive plan aims to address both immediate and long-term economic needs, setting the stage for a more stable and prosperous future for South Sudan.
