MORE PAIN FOR SOUTH SUDANESE AS COST OF LIVING SOARS.
BY EMMANUEL MALUAL MAKUACH, JUBA SOUTH SUDAN.
Food prices have gone up sharply. Analysts say rise in inflation and the weakening of the local currency seen over the last week, might result in high lending rates] The cost of living during the month of May went up driven by high cost of living is high in south Sudan and sharp rise in price of food commodities. Show that inflation rose to according to the research carried out by the economist of south Sudan 7.3 per cent in May from 6.4 per cent in April, shooting past the Central lack of control of the economic rising food prices due to poor transportation. Further increases in price of food that could adversely affect the economy. Notable in pushing up inflation were e prices that went up in the country per cent after the country starting the aborted coup attempt in the country using hard currency fuels the economic crisis in the country this cost being passed directly to the consumers. Food index This has been due to failure of the rains last year and flooding in some parts of the country resulted in a dip in water levels at the areas that have flooded in some states way below their capacity. Building for the people of south Sudan due to hardship. The dismal rains during the season have also seen prices of common food items go up. “There was significant rise in prices of several food items including maize flour, potatoes and sukuma wiki…Okara in our local markets like jebel market . costumers and konyo konyo markets were few small scale farmers managed to bring some produces in the market which the have facing a lot of challenges in the markets which has results into these price increases outweighed falls in the prices of resulting in an aggregate Price increases were recorded in respect of, food prices mainly on account of hard currency in the economic situation .which the citizens has experienced might dampen growth prospects for the country.
See Also: Major in dilemma over high rate of inflation and the weakening of the local currency, seen over the last months might result in high lending rates. “Once again, unseasonably economic that make country development and the insurgency in the country make it difficult to sustained and the country’s continued reliance on rain-fed agriculture, are helping to pressure prices. However, with indicators pointing to robust underlying momentum in the economy, and strong credit growth (notwithstanding recent security risks), the likelihood of food-related pressures spilling over into secondary effects is high,” consumers. Said the rising inflation in south Sudan narrowing the spread with the Central Bank rate as well as nervousness around the softer pounds seen in recent days, should see the C BK resume a modest tightening cycle from July. “The April to May inflation prints most likely signals the start of a new interest rate cycle in south Sudan although we do not expect interest rates to rise anywhere near as much as they did in the last tightening cycle.
A sufficiently early rate hike will help moderate the overall pace of tightening that is required.” LIVING, COMMODITIES, FOOD, MONEY, in Share Related Stories State to go cashless from July to curb black markets were dollars is trading 430 south Sudanese pounds Majority of south Sudanese are dilemma impromptu meeting with key budget committee .Any money left after the austerity measures has been concentrated in the national capital. but the country is blessed with abundant land fertile land so the plan is to diversity away from oil towards agriculture. This will need substantial investment .not just in new technologies and training but also on physical infrastructure.in oil is the nation greatest sources of income .but in three years since south Sudan declared its independence from north Sudan .the oil has not brought much development. The situations described by the south Sudanese economist Peter Biar Ajak says the financial situation is quite precarious .and the note also warned of massive devaluation of the south Sudanese pound SSP an exponential rise in inflation and depletion of south Sudan,s reserves all in all development was put on hold salaries came late poverty rates grew .people waving south Sudanese flags while the south Sudanese celebrate independence. there is little cheer in the economy on other hands that agriculture was not the one changes the life of people of south Sudan but the current political crisis in the country has affected the agriculture in the following areas like greater upper Nile. lake states and warrap were the cattle raiding is the order of the day were people are fearing for their lives. The only way we can help the economy of south Sudan is make our own regulation in many ways of economic sectors like customs reformed including taxation in the country.
About Post Author
