Oil resumption is badly needed to resuscitate the economy

The government delegation has recently visited it’s counterparts in Port Sudan with the aim of speeding up the resumption of oil production and export.

Oil-dependent South Sudan depends on oil revenues to finance nearly 95 percent of it’s annual fiscal budget, but the halting of oil production due to gelling in the pipeline in March this year, has denied the government it’s major source of revenue.

Civil servants and members of the organized forces have gone for more than 10 months without salaries; this hard situation has not spared traders and consumers of imported products.

This country needs hard currency from oil to import nearly 90 percent of it’s goods from neighboring countries and foreign markets. The hyperinflation in the economy is not only hurting the poor but it has also led to rise in crime and extortion especially among some members of the security forces.

The government needs to finalize the deal with the Sudan Sovereign Council led by Abdel Fattah Al-Burhan to save the economy on the brink of collapse.