He was on Monday speaking at the swearing in of the new minister, an event also attended by Central Bank of South Sudan governor, James Alic Garang.
The South Sudanese leader expressed confidence in the Finance minister’s track record, urging him to implement policies that will uplift the country’s economy.
Acknowledging the severity of the economic crisis, Awou vowed to take decisive actions to curb hyperinflation and stabilize consumer market prices in the country.
South Sudan currently faces a complex economic situation and addressing the root causes of the problem will require good governance and financial reforms.
According to the World Bank, inflation in South Sudan reached 254% in 2021, making it one of the highest inflation figures globally. The hyperinflation is mainly due to the country’s weak currency, the South Sudanese Pound (SSP), which has significantly lost value against major currencies, like the US Dollar and Euro.
Exchanging of finance ministers won’t help solve the economy crisis in the country.
Unless there is a strong economic system in place ,otherwise the crisis will continue