The Quest for Economic Diversification in South Sudan: Overcoming Reliance on Oil and Curbing Inflation
Publication Summary
This Brief reviews South Sudan's economic diversification challenges and opportunities, focusing on agriculture, mining, and tourism. The research employs a systematic literature review to identify gaps and assess the complexities of diversification in resource-rich, post-conflict nations. South Sudan's economic diversification through agriculture is hampered by conflict disruptions, inadequate infrastructure, and limited market access. The mining sector, rich in minerals, faces environmental concerns, corruption, and mismanagement challenges. The tourism sector, despite its cultural heritage and wildlife endowments, struggles with insecurity and infrastructure deficits. Broadly, the economy is destabilized by persistent inflation, oil price volatility, and reliance on food imports, making it vulnerable to global shocks. The study highlights the need for targeted investments, good governance, and effective policy implementation. Specific recommendations include promoting fiscal discipline, enhancing infrastructure, and encouraging domestic food production to reduce imports dependence.
Bec George Anyak is a researcher with expertise in policy analysis, trade policy, budgeting, business planning, and development strategy. He also serves as a Lecturer of Economics at Upper Nile University, South Sudan. Bec earned his Bachelor of Economics from the University of Nairobi in Kenya and an MSc in Applied Economics from the University of Strathclyde in Glasgow, UK. Previously, Bec held senior positions, including as the State Minister of Finance in the now-defunct Eastern Lakes State Government and as a Commissioner for Yirol West County, Lakes State. His extensive experience in both academic and governmental sectors underscores his commitment to improving economic policy and development in South Sudan.