The newly appointed Minister of Finance and Economic Planning, Dr. Barnaba Bak Chol, has stressed the need to increase revenue collection and reduce government expenditure to help stabilize South Sudan’s struggling economy.
Speaking during his welcoming ceremony at the Ministry of Finance and Planning in Juba on Thursday morning, Dr. Bak stressed the need for policies that diversify the economy. He said that given the country’s current situation, austerity measures—policies that encourage more revenue collection while limiting spending—must be implemented.
He linked the approach to a “state of emergency” requiring strict discipline to rectify the situation.
“Let’s accept change in our lives, even if it is affecting your position, because the country is bigger than you,” Dr. Bak said.
“This time, we must focus on increasing collection and reducing spending. Literally, we are supposed to go for austerity measures. Austerity programs are a set of economic policies that encourage more collections, but less spending.”
He added: “It is just like a state of emergency in a security setup. When things go tough, you also tighten your tools and your policies to rectify the situation. This situation will continue a little bit tough for the next few months before we rectify these problems and change the status quo.”
Dr. Bak warned that “there is no miracle, and there is nothing much that a minister can do in a very short while to change the situation. Unless you change your spending attitudes. I want you to spend wisely.”
The minister also outlined priorities for economic transformation, including enhancing oil production, realigning tax collection, stopping unnecessary payments and contracts, and developing sectors such as agriculture and mining.
“When we say let’s enhance our oil production and let’s realign our tax collection, and let’s stop the random payments and contracts, and let’s go for agricultural mining, it becomes a complete mission of economic transformation,” he said.
“This mission requires not only patience to be implemented but also faith and hard work to be achieved,” he added.
“Let’s communicate intellectually, seek clarification over confusion, cooperation over manipulation, and correlation over division, and also seek correction over corruption.”
Dr. Bak’s message highlights the government’s focus on fiscal discipline, economic reform, and citizen participation as critical steps toward stabilizing South Sudan’s economy.
