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Gov’t told to improve the economy

By Atimaku Joan

Economic Analysts and Activists are asking the government to improve the economy of the country by investing oil revenue into other sectors.

This came after Dr. Wani Igga statement that the country will be expecting an economic boom this year due to the recent rise of oil revenues as a result of the Ukraine war and as a result of the completion of payment of oil dues owed to Sudan.

Speaking to Juba Monitor on the phone, Economic Analyst who is also the Vice-Chancellor of Dr. Garang Memorial  University of Science and Technology Pref. Abram Match said that the economic boom depends on how the revenue which is likely to be earned is spent.

“When the price of oil is high it does not mean direct economic boom, it will be a boom in oil revenue and unless it is invested in other productive sectors of the economy, the economic boom will not take place and it may not benefit everybody but individuals,” said Matoch.

He stated that is a must for the oil firms to   pay for taxes and there should not be a way of avoiding the payment because it is a matter of regulation system in the country therefore it is either they comply or they should be penalized.

He urged the government to tighten the regulation to ensure that the tax payers comply.

In his part , the Executive Director of CEPO Edmund Yakani  said that it is a matter of transparency and what comes first.

“Obviously, we are oil producing state and the increase in oil revenue will be a good news for us,

But the challenge is the question of how transparent are we? because even if the economy booms and you generate money, if we are not transparent in using the revenue for the whole interest of the citizens, even if we get six billion today or tomorrow still with the kind of financial strategy we have, it may not be beneficial in terms of meeting the best priority of the citizens,” said Yakani.

He said that there should be a proper use of revenue if generated.

“Yes we might get good revenue because of the oil price increase and the crisis but we need proper use of the revenue which will be generated,” Yakani stressed

He mentioned agriculture as one of the important sectors that needed to be improved in the country but said that it is a question of priority which means  if the country’s  priority is improving the sector of agriculture, then money should be injected in it while other sectors follow.

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