Hon. Nathaniel Oyet, the First Deputy Speaker of the parliament - Courtesy

The Deputy Chairperson of SPLM-IO says the prevailing economic situation is man-made, citing what he terms as a state capture by private entities and individuals.

Oyet Nathaniel argues that the country generates more than two billion US dollars from oil sales and 200 million dollars from non-oil revenue collection, in a year.

Lawmaker Oyet, also the First Deputy Speaker of Parliament, said the revenue is more than enough to pay for the operational cost of the government and the monthly salaries of civil servants.

According to him, the alleged advanced sale of crude oil up to 2027 has no tangible effect on the country’s ability to generate revenue because every Fiscal Year budget has a debt servicing section.

Describing the situation as an economic trap, lawmaker Oyet argues that economic growth cannot be achieved when public institutions try to balance between delivering to the people and maintaining the interest of private entities.

“The prevailing economic situation is Man-made and self-inflicted. It is the failure to balance between the national interest of providing goods and services for the citizens and maintaining the state capture by private/group individuals,” Oyet stated in a statement he posted on his page.

The legislator claims South Sudan has now lost control over its valuable resources as a result of the alleged lifting of crude oil and diversion of the dollar income.

He said the situation has resulted in economic hardships characterized by running inflation.

The lawmaker recommends an urgent need to mobilize resources through the Ministry of Finance and channel the revenue from invisible hands to public coffers.