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Kiir chairs economic cluster meeting amid ‘hurting’ inflation

Author: Lasuba Memo | Published: Thursday, May 16, 2024

Photo|Courtesy

President Salva Kiir on Wednesday chaired the Economic Cluster Meeting and announced plans to inject hard currency into the market in a bid to combat the current inflation.

The meeting brought together the Minister of Finance, Awow Daniel Chuang, the Governor of Central Bank Dr Alic Garang and the Commissioner of General of South Sudan Revenue Auhtority, among others.

According to the Minister of Finance and Planning Awow Daniel Chuang, “the initiative aims to stabilize prices and alleviate the burden on consumers.

“This support will help ensure a steady supply of food and other agricultural produce in the market,” the officials were cited as saying.

Chuang added that the government has also imported tons of food commodities to be sold at subsidized prices in various parts of the country.

Meanwhile, the Minister of Trade and Industry, William Anyuon said the government has imported millions of litters of fuel to supply the market.

The government, according to the press unit in the president’s officer, has pledged to support farmers by providing them with the necessary resources to boost their agricultural activities.

The economic turn-down as a result of the depleting oil revenue attributed to the geopolitical issues including the war in Sudan and blockade of the Red Sea has left the citizens struggling with civil servants going fro several months without salaries.

The country’s dependence on imports has made the situation even more difficult as traders struggle to access the hard currency.

 

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