23rd February 2019
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Plan ahead for a sound economy: EU expert

Author : Nichola Mandil | Published: 5 years ago

An economic expert from the European Parliament has urged the Government of South Sudan to diversify its economy.

Budget Committee administrator, Martins Zemitis, said that the country cannot depend on oil as the only source of revenue.

“Broadly speaking for any country including South Sudan, it is important to find an economic base, which makes the country more independent –and also to take it away from single resource dependency. “Mr Zemitis said, when he addressed the media at the end of an economic training workshop.  “I think it would be a trap to think when you open the oil pipeline and start exporting oil, all the other problems automatically get solved.

Mr Zemitis said that “ one point the oil will run out” and that South Sudan will need to have diversified the economy. He said there was a lot of potential in agriculture and industry.

“ The Nile River flows through the country and it has a lot of assets. As a young population and so I think overall you know there is a lot of an economic opportunity to be exploited,” he said.

Mr. Zemitis said that economic potential must be recognized and developed in South Sudan, even though  “The opportunities for economic freedom may be limited at the moment”.

He said that a long term view is necessary in order for the economy to be  “more sound and more independent footing. That is the essential message that I would pass. I think you have an amazing opportunity as a new nation.”

Martins Zemitis, was in Juba for a workshop for the National Legislative Assembly’s Parliamentary Staff organized by the World Bank Institute and the International Republican Institute.