Kiir calls for diversified economy to avert crisis  

JUBA – South Sudan’s President Salva Kiir Mayardit has issued a call for a diversified economy to mitigate the ongoing economic challenges plaguing South Sudan.

Speaking at the reopening of parliament, Kiir attributed the country’s economic woes to its heavy reliance on oil revenues and emphasized the necessity of an agricultural revolution.

“We need to diversify our revenue sources and increase local agricultural productivity to reduce reliance on imported food which drainage our foreign exchange reserve,” said Kiir.

Kiir underscored the adverse impact of the country’s reliance on oil exports, citing the sharp depreciation of the South Sudanese Pound (SSP) against the US Dollar.

“Our dependent of oil export has had a negative effect on value of South Sudanese Pound (SSP) in a sharp appreciation of dollar against SSP,” he added.

Kiir emphasized the importance of revitalizing national agricultural schemes, advocating for the review and reopening of former agricultural projects across the country.

“There is a need to review and open all the former agriculture schemes across the country,” he noted.

Highlighting the economic constraints faced by the nation, Kiir pointed to factors such as rampant inflation, which has led to soaring commodity prices in markets.

“Our economy is has been constrained by number of factors first among this is the inflation which left high prices in the market,” Kiir remarked.

“Backlog of unpaid salaries and unwillingness of commercial banks to lend local businesses money for agriculture and import of essential commodities has make the situation of our citizens and organized forces very difficult,” Kiir continued.

While admitting economic hardship, Mr. Kiir added that economic crisis is now a global phenomenon and South Sudan is not an exception. He assured that fuel and essential food commodities supply would remain uninterrupted.

“Food security is a real problem facing every citizen in the country,” he lamented.

However, he recalled government’s mission in importing food commodities to sold at affordable or subsidized prices for common citizens.

“Nevertheless, the government through ministry of agriculture and food security has a mega plan to boost and increase agriculture productivity this year across the country,”

President Kiir also called on the citizens to embark on farming and combat food insecurity.

“I urge every citizen in the country to invest food production since South Sudan is blessed with enough rainfall and fertile land for agriculture,” he appealed.

Furthermore, the Head-of-state called on partners to support small scale farmers countrywide.

In bid to address civil servants’ plight, president cited that government had hiked salaries to 400 percent.