South Sudan projects hiking oil price will boost economic reforms

By Simon Deng

Increasing price of crude oil will help boost economic recovery if well utilised by South Sudan, Vice President James Wani Igga said.

Speaking at a symposium organised by United Nations Development Program with support from the government of Japan, Igga said the oil price boom will help support the country’s financial management reforms introduced by the peace government in Juba.

The Dar Brent is selling close to $100 per barrel on the world market.

“The skyrocketing of the oil prices is excellent tidings for oil producing countries,” Igga said.

“By all standards, this adds to economic boom, what remains of South Sudan is good supervision and management.”

Igga said the public financial management reforms introduced by the revitalized peace agreement will help the government to uphold fiscal discipline well-suited with macroeconomic stability.