29/05/2024
Tips for fixing South Sudanese Economy
_By Dr. Akim Ajieth Buny - 27th May 2024_
President Salva Kiir Mayardit should establish a National Economic Advisory Board (NEAB) to advise him and the cabinet at large on economic matters.
South Sudan is currently in tough economic times with high inflation, evolving unemployment rate and growing conflict caused by economic polarization --putting a country at the crossroads of prosperity and instability. If we cope with the difficulties successfully we can relish the same level of prosperity as that the well-to-do countries enjoy today but if we don’t we might fall into one of the periphery in the global economy. The solution is not removal of Eng. Awou and Dr. Alic, but to lessen the burdens they're carrying. This means taking some of the responsibilities away from them and create some independent bodies to execute these responsibilities. For example, the Minister of Finance is the same one that is responsible for payment of government employee, responsible for economic planning, responsible for allocation of funds and revenue collections. That's too much in his plate. To make his work lighter and therefore make him effective, as well as to accelerate the efforts of government to get over the difficulties facing the country these days, I suggest that the President of the Republic of South Sudan urgently consider the establishment of an independent presidential body called the National Economic Advisory Board (NEAB) and appointing a strong team of eminent people with diverse experience, knowledge and skills from a variety of areas including academia, think-tanks, industry, the private sector, and other constituencies to advise him on how to take South Sudan to new heights economically.
Among other things the 7 or 11-member NEAB would do include reviewing the existing policies and institutions that were created to advance the country’s economic objectives from 2005/2011 to date and providing timely advices on various pending economic issues and suggestions on the directions of short, mid and long-term economic policies. In doing so, NEAB would put these institutions on a more modern pedestal that is in par with what is often found in other countries. At the moment, it is known that there is a dearth of innovative thinking in South Sudanese government and the president behaves like a person who goes around and gets advice from anybody he meets in the street of Juba. That means there is little coordination nor planning. This has the impact of confusing everyone around the president, including even his cabinet. South Sudan needs new ideas and new ideals if it is to graduate to a high income country to which we aspire. There is no shortage of people regionally and internationally who would be too happy to help the Republic of South Sudan at no cost. The only requirement, which might be hard for some in government to swallow is that such advisors will demand results. They would require to have a secretariat of efficient policy experts that would be effective in serving them mainly through coordination. The truth is that South Sudan does not only look stagnant, it's also seem to have run out of ideas. At cabinet level there is a lack of dynamism beyond political survival.
The country’s business, economic and development strategies are haphazard and lacking coherence. Political will, where it exists is often undercut by a lack of technical depth, including on key policies and statutes. By political will, I mean the extent of committed support among key decision-makers for a particular policy solution to a particular problem. The country can no longer rely on traditional lines of advice because the country is growing in its complexity with problems getting intractable and much more complex. We need to learn from people with expertise in international economics; macroeconomics (including fiscal policy and monetary economics); labour economics; economics of education and the economics of poverty and inequality and urban development from within and outside the country. The president needs to draw from an array of sources when it comes to economic advice and expertise.
President Kiir shouldn't be reluctant about creating NEAB because such a body existed in many other countries around the globe and its ubiquitous is proven effective. In South Korea, for example, it is called the National Economic Advisory Council (NEAC), a body established in 1999 under the Article 93 of the Constitution of the Republic of Korea as a policy advisory body, reporting directly to the President of Korea on matters concerning the national economy. The 11-member advisory council's activities cover national strategies and policies concerned with economic development, social welfare and international economic cooperation.
In Singapore, it is known as the Committee on the Future Economy of Singapore (CFE), a body formed in 2016 to develop economic strategies to position Singapore well for the future – to be a vibrant and resilient economy with sustainable growth that creates value and opportunities for all. The 30-member CFE is helmed by Minister for Finance and Minister for Trade and Industry. The CFE and its five subcommittees draw on a wide range of expertise across both the public and private sectors both in Singapore and abroad. In Egypt, it's called Presidential Advisory Council for Economic Development (PACED), a 18-member council made up of academics and experts with the aims to provide a strategic vision for the state and to provide advisory opinions on economic affairs and projects such as the new Suez Canal development project.
In South Africa, it's refered to as the Presidential Economic Advisory Council (PEAC), a non-statutory and independent body that advises the President and government, facilitating the development and implementation of economic policies that spur inclusive growth. The body brings together prominent economists and technical experts drawn from academia, the private sector, labour, community, think tanks and other constituencies. In Nigeria, it is called the Economic Advisory Council (EAC), an eight-member Council that advises the President of Nigeria on matters relating to economic growth, economic policy, and fiscal analysis.
In Rwanda, it's known as *Presidential Advisory Council (PAC), a body that gathers Rwandan and International experts who offer strategic advice to the President and the Rwandan government at large. Since its establishment in 2007, discussions at PAC are aimed at identifying innovative and pragmatic interventions that drive Rwanda’s socio-economic development. Finally, in neighboring Kenya, it is known as the *National Economic and Social Council (NESC), a body formed in 2004 to provide expert advice on economic and social matters to the Kenyan President and the Cabinet. The 10-member council brings together expertise, experience, and distinguished service in diverse fields and countries who include medical practitioners, social scientists, economists, engineers, industrialists and other business and public service professionals.
Thanks!
