Home | News    Thursday 9 June 2011

South Sudan targets 6 per cent economic growth

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June 8, 2011 (JUBA)- The Government of South Sudan said the target for economic growth of immediately after the independence is up to 6 per cent and will increase to 7.2 per cent in 2012, from the Ministry Finance and Economic Planning on Wednesday.

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South Sudanese citizens exchange money at the bank (Reuters)

Salvatore Garang Mabiordit, the undersecretary of the ministry, while presenting the economic survey for 2010 and development plan for 2011-2016, told those assembled at the briefing on the premises that the government will have to double its efforts to curb inflation growth and keep it in the single digits.

The official said overall inflation for Sudan, based on the latest economic reports, stood at more than 8.6 per cent as of April, this year, with high fuel in some parts of the country pushing up food prices.

"Revenue collection from local sources is expected to hit a ratio of 17.2 per cent of the Gross Domestic Product [GDP] in the 2011/12 fiscal year and this would continue to grow at an average of 17.5 per cent per year in the medium term plan," said Mabiordit.

He said the government would keep tight control on broad money supply which is also expected to grow by 19.0 per cent in 2011/12 and by 18.6 in the 2012/13 financial year.
"This growth aims to balance between the economic growth and the rising costs on various goods and services," said Mabiordit.

He added that the government would also focus on maintaining hefty foreign reserves that could cover imports for at least six months. He said the government would also narrow the spread between interest rates on lending and deposits and control foreign exchange.

He listed nine key areas that would support economic growth, namely, peace, protection of water sources, maintaining macro-economic stability and improving revenue collection.

Other areas include; efficiency in public finance management, allocation of resources in areas that catalyze speedy economic growth, timely implementation of phase two of the national poverty alleviation program (PRSG) and promotion of the ambitious development plan of the South Sudan’s ruling party, theSudan People’s Liberation Movement (SPLM).

He also mentioned improvement of the business environment to attract more players from the private sector as another crucial area. 

"More efforts are needed for implementation of the SPLM Development Vision 2020, promotion of the national economic growth, more investments in strategic areas such as roads, improvement of ports, railway system, water sources, national food reserve and job creation," he said. 

He said the government would also encourage big investments in agriculture and reduce dependency on donors, adding that the government has given higher to security, roads, education and agriculture in the 2011-2012 budget.
Agriculture, livestock, manufacturing, general trade, transportation and communication played a key role in the 2010 economic growth.

(ST)

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  • 9 June 2011 07:08, by Lorolokin

    Mr. Salvatore Garang, you need to stop those thugs selling hard currency in S.Sudan in general and in Juba in particular, the best places for selling dollars is Banks not markets like onions or Tomato otherwise ROSS will not stand.
    Kinkak

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    • 9 June 2011 07:21, by onlysonmabi

      Mr undersecretary Garang to do that you need to talk to your Minister Athorbei because the particular people doing that are his Atut man,
      you people don’t talk toomach with out action.

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      • 9 June 2011 09:30, by JAMUS

        Ya thief Garang,

        In fact, it is laughable and a big irony to hear somebody like you espousing this brilliant economic ideas. Remember Bol Mel and one lost Dinka Bor called Simon Akuei of Chamber of Commerce embezzled 20 million dollars last year under your watch. That money was collected at the border points and it did not reach the account of Ministry of Finance.

        You are running this state virtually as Gogrial. These two thieves ,Bol Mel and Simon Akuei need to be investigated and prosecuted as soon as possible because they had stolen the money that were collected at Border points. This is truth, and I can provide evidence and testify in court against them. We are fed up with these open looting of resources of South Sudanese. The vice need to be stopped

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  • 9 June 2011 07:42, by Deng Thiak Adut

    Great news!Now is a time we swaps guns mentalities with economic theories and practices. Time to shake up African, but I would appreciate our infant government if she capable of allowing new ideas, not old ideas to operate in this 21 century. Powerful nations admire availability of information….
    We need people the government with:
    (a) Sufficient knowledge, qualification and experience in the particular business or industry;
    (b) People with adequate business management training; and adequate staff training and management skills.
    We seem invisible but do exist….

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  • 9 June 2011 07:54, by Riak

    Nothing is so promising about your forecast Sir! And I believed people will not buys it either. Our hopes are terrible dashed because of the government failure to deal with corrupts individuals.

    It’s clearly in everybody’s interest to see the government be ready to upheld the law for all the citizenry without prejudices, instead of the present status quo.

    People believed that those who are pulling the nation down because of their own greediness and corrupts practices should immediately be held accountable, otherwise, it will be hard for the government to served it people without first dealing with these most pressing issues.

    Many have lose their faith in this present government due to the fact that they are acutely unwillingly unable to upheld the law, and do what they are direly needed to do. For someone like me, it is terrible crazy to allows few of us to run away with our nation’s wealth under the pretext that they are being protected by someone somewhere in the kitchen cabinet.

    Doing it, hoping that it is unbeknown to the entire nation is compeletely outrageous. Therefore, these cultures urgently needs to be stop now or else there is no need to pre-empt the nation’s growth forecast, when nothing is done to stop the rampant corruption. Otherwise, this may sound naive indeed for those are behind the idea.

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  • 9 June 2011 08:12, by Emmanuel Ajang Solomon

    Salvator Garang Mabiordit.

    You are the one who have spoil our Economy all this years and now you want to tell us it will improve by6 percent,why are U deceiving yourself.All Donor countries,NGOS,Business sector,and the rest of country knows very well the source of corruption in our country is your Ministry,and U yourself as the long serving undersecrtary who is removing the ministers but remain to follow up big man and Bol Mel Issues, please please please Garang,the blood of people of South Sudan will one day asked U.

    1- Garang is it not U who created the so called, you company
    needs to be put in the system?
    2- Is it not U who let the air delivery traders pay 200,000
    or 300,00SDG per One Million so that U got Dura money?
    3- was it not U, who gave loaned money to your own tribes
    man, until to date if proper investigation are done, G-
    arang U will pay all the money U have in your foriegn
    Banks, but because of good connection with Bol Mel and
    big man but one day he will not be there and all of U
    will see.
    4- The country is now suffereing because of U and your bo-
    ss please Garang fear God one day life will good.

    5- What are U doing in the border, is it not U who is do-
    ing the mess in the border,U are responsible for every
    thing regarding the downfall of our economy.
    6- What reserve again do U want to buy, Dura? so that U R
    to extort money from the Public, if it was not a ruber
    stamp Parliament, how can they talk 100 times and 10
    committees without coming to an end and U start paying
    your relatives in secrets, like the Poor Agar trader
    who killed himself because of that money when he disco-
    vered that his collegues have been paid in your system.
    7- The whole Dinka tribe is now heated by all tribes of
    South Sudan,because of U and your boss who thinks that
    the oil money is his clan property that is Why Taban d-
    eng Gai have problem with his Nuer tribes man for play
    with their 2% giving it boss relatives so that he rema-
    ined loyal to Boss or replace Dr. Riek in the next com-
    ing time,Garang time will tell the whole world of all
    that U people have done.Garang what Did in the Minist-
    ry of Finance will never be forgotten for 100 Years.
    8- Mr. Prsident, if U want please! enough is enough give
    this your own family Ministry to Equatorians, your Bol
    Mel,Bol Areec will still do their work but save the li-
    ttle remaining diginity of Dinkas Mr. President,Nuer
    was better but Dr. Changson chang was removed simply b-
    ecause he was not doing what 2 Bols want that was why -
    he was removed,did he gave money to his party or was h-
    e giving his relatives?
    9- Mr.President your people are aware of what is going on
    in the country, even the issue of money being taken fr-
    om Khartoum by your people all your citizens are aware
    History will be bad after July 9 2011 because the Jala
    bas will try to reveal all what your government did.
    10-Mr.President U have a very big work after July 9 2011
    because all eyes are on U and the people of South Sudan
    will they accept marginaliztion after independent as of
    now your own hand pick people are doing to them or will
    U change and say for give them and from now on ward let
    be doing the work for the people as U have taken enough.
    All those above are counted on U your excellency no way
    otherwise people will still struggle and U will have it.
    10-Pres

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  • 9 June 2011 09:16, by Khartoum92

    Juba will need to cooperate with Sudan in the order to survive,to be honest i think i our leaders are too kind to you people who claim us as their number one enemy like it matters, For juba to import products, fuel from neighboring countries will take three times longer and will cost the government at least three times more for Juba and you can imagine how expensive will be for the customers this is just the beginning. to threaten Sudan of not buying its exports anymore its their loss juba will suffer

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  • 9 June 2011 10:33, by Adam

    Hey! No one buys this. This is very unprofessional. It is not true and will never be realized in the near future. However, to have a flourishing economy the GoSS should do the following:

    • Uniting Southerners. Fighting tribalism.
    • Security measures to guarantee the safety of the society. This means institutionalized National Military and professional police forces. Stability of the North also is very decisive integral part for the stability of South Sudan.
    • Stopping wars in the South and preventing their eruption with other countries, especially the North.
    • Cropping Corruption of civil and military servants.
    • Good governance, democracy, freedoms, justice and human rights should sincerely pursuit. Power-sharing should start immediately and with good will and good actions. This includes a Unanimous Constitution and other laws (Investment law in particular).
    • Implementing the CPA in full. Irresponsible delays in closing pending files (post-referendum) should be stopped. International intervention should be avoided – it will never - ever bring good.
    • Addressing Abyei, Blue Nile and South Kordofan files wisdom, patience and caution. The South should not get involved in the recently erupted war between SPLM and SAF in South Kordofan or the- to- be- war in Blue Nile.
    • Stopping interference in the North affairs. SPLM North Sector is no longer Southern. Darfur rebels should pardon South Sudan for not helping them openly or in secrecy.
    • THEN carefully planing and launching real Development Projects with fast revenues.
    • Good economic relation with the North is good for both sides. Bad one is terrible for both.
    If the above are not observed, no one should dream of any kind of life in the South except continuous suffering.

    Long live Southern Sudan

    Adam Milawaki, Nairobi

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