In March, the World Bank published highlights of South Sudan’s economic trajectory. It projected a 1.2% in FY2021/22. Here!
This latest projection is a sign of economic recovery because in FY 2020/21, South Sudan’s economy had contracted by an estimated 5.4%. Report
It said that despite the expected growth, some uncertainties will persist to be witnessed in the economy. It cited issues related to the peace implementation, oil sector developments, climatic shocks, and the future path of the COVID-19 pandemic.
The Bank stressed that as the country looks to recover and build stability, a focus on jobs and livelihoods should take center stage. reports
In a layperson language, the bank wants the government of South Sudan to renew its focus on jobs creation and improve livelihood. jobs
The World Bank’s economic analysis for South Sudan underscores the importance of investing in job creation as a means to promote stability and development in the country
So far, peace parties appear committed to finally announcing the unified force which is a positive step to restore confidence in the economy.
Another positive indicator that is political, but has economic dividends is the efforts to put in place a permanent constitution for the country.
Those are positive indicators geared toward sustainable peace and stability which are good for economic growth and investment confidence.
According to the World Bank report, young South Sudanese workers have reasonable expectations regarding jobs and are open-minded toward available activities, particularly in agriculture.
Their keenness to take advantage of and build from the limited opportunities available to them has significance for the achievement of both political stability and economic recovery.
Wani Elisa, a university graduate quoted by the bank had this to say, “As a young graduate, I am unemployed for years now due to limited job opportunities available in the government, NGOs, and the private sector. I have the willingness to venture into farming in my home village when given the opportunity but there is a need for peace and stability guaranteed in those areas so that agriculture can thrive”.
Elisa also urged the government and the development partners to invest in opening up rural roads to facilitate farmers and their products to the nearby markets to boost their livelihoods.
The report acknowledged concurrent shocks such as armed conflict, natural disasters, and the COVID-19 pandemic which have profoundly disrupted livelihoods.
On March 6, 2022, the World Bank approved $34 dollars for South Sudan to advance public financial management reforms, strengthen key oversight institutions, and improve budget transparency and outcomes in the country, eyeradio.org
On March 17, 2022, the World financial institution approved $120 million to build the capacity of local communities in 12 out of the 79 counties across the country, eyeradio.org
Since 2011, the World Bank has been supporting South Sudan in investment projects, health, Agriculture, food, and livelihood among others.