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South Sudan investment conference to support macroeconomic stability

The upcoming South Sudan investment conference will provide solutions to the dire economic challenges the government is trying to address, revealed Bak Barnaba Chol, the national minister of finance and planning on Wednesday.

 “We want to allow the economic sectors and stake-holders to present their views on main concerns and challenges of the economic situation in South Sudan and their proposals in regard to the transformational agenda of the economy,” Chol told journalists in Juba.

 He said the conference that kicks off on September 4 till 8th will also identify key policy priorities to manage the current midterm economic challenges.

Chol said a budget of one million U.S dollars has been approved for the conference to be held under the theme, “Towards a diversified inclusive sustainable economic growth”.

“The conference will also identify policy areas that will move South Sudan out of oil revenue dependency, we want to diversify and also to improve on resource mobilization and ensure prudent spending at all levels of government,” he said.

Chol said the outcome of the national economic conference will be used to promote policy dialogue aimed at achieving macroeconomic stability, sustainable resource mobilization, effective planning and budgeting, prudent resource allocation, fiscal discipline and presenting South Sudan as a business and investment destination to the world.

The South Sudanese Pound has increasingly depreciated against the U.S dollar currently exchanging at 100 SSP in the black market, the highest since independence in 2011.

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