Malual Tap Dieu, the Minister of Finance in Unity State - Credit: Press Unity - Office of the Governor of Unity State

The ongoing first National Economic Conference will not immediately address the current economic meltdown in the country, the Minister of Finance in Unity State has said.

Malual Tap Dieu said economic recovery and reform take time.

He added that the conference – which entered into its fifth day today – is expected to provide a roadmap on ways to fix the economy.

Tap said this can only be realized if the resolutions and the recommendations of the conference are implemented.

“Fixing the economy is not a one-day job, it’s not an event. It takes time. It’s one of the most daunting tasks for an institution like the Ministry of Finance can undertake. It will not come so soon, am sorry but it takes time,” Minister Malual said.

“It takes months and sometimes it takes years. It’s just that for us to know that we’ll have the roadmap on the way to fixing our economy,” he said.

“After this conference, we’ll be following through the resolutions and recommendations and with the right implementations, we expect that everything is going be okay for our people in the near future.”

Minister Malual went on to say it is high time for South Sudan to use oil revenue for the diversification of the economy.

“We need to change the mindset of oil, it’s not about oil all the time, for example in some other parts of our country, one hundred kilograms of sorghum goes for 150,000 South Sudan Pounds,” said Malual.

“Today’s price of one barrel of our oil is eighty thousand, that means, one sack of sorghum in our country now is twice one barrel of crude oil. So, it’s high time for our people to think twice. Don’t chase the oil. There are other things,” he said.

“If it’s all about price or money, you can still venture into agriculture products, for instance, produce enough sorghum, take it to the market, it will bring for you more money than the oil.”

The ongoing National Economic Conference aims to pave the way for economic transformation and enhance the country’s financial situation.