{"id":58369,"date":"2024-05-16T11:56:09","date_gmt":"2024-05-16T11:56:09","guid":{"rendered":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-blames-high-costs-of-living-on-low-productivity-import-dependency"},"modified":"2024-05-16T13:05:29","modified_gmt":"2024-05-16T13:05:29","slug":"economist-blames-high-costs-of-living-on-low-productivity-import-dependency","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-blames-high-costs-of-living-on-low-productivity-import-dependency","title":{"rendered":"Economist blames high costs of living on low productivity, import dependency"},"content":{"rendered":"

Africa-Press – South-Sudan. <\/strong><\/span>A South Sudanese economist has blamed the high cost of living on low productivity and the local currency\u2019s weakness due to heavy reliance on imports.<\/p>\n

Speaking to Sudans Post on Wednesday, Abraham Matoc, Vice-Chancellor of Dr. John Garang Memorial University of Science and Technology, attributed high market prices to production costs inflated by low output.<\/p>\n

\u201cThe economy isn\u2019t producing anything, there\u2019s no productivity, so there\u2019s not enough supply of goods and services,\u201d Matoc said.<\/p>\n

\u201cThe import-dependent economy needs hard currency, and because of that, the exchange rate has skyrocketed as people trade in dollars instead of the South Sudanese pound,\u201d he added.<\/p>\n

Matoc argued that low productivity inherently drives up living costs, especially in urban areas.<\/p>\n

He added that the dollar has become a tradable good rather than a means of exchange.<\/p>\n

\u201cThere\u2019s no circulation of money within the economy, and there\u2019s no investment from small and medium-sized businesses,\u201d he said.<\/p>\n

\u201cOur money is flowing out to neighboring countries, either through people buying houses or seeking medical care there,\u201d he added.<\/p>\n

Matoc emphasized the negative impact of capital flight.<\/p>\n

\u201cThe outflow of local currency is too high, and that\u2019s another economic woe,\u201d he said.<\/p>\n

\u201cThe cost of living will only come down when our economy becomes productive enough to create a surplus of goods in the market, leading to better supply and lower demand pressures,\u201d he concluded.<\/p>\n

For More News And Analysis About South-Sudan<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Sudan. A South Sudanese economist has blamed the high cost of living on low productivity and the local currency\u2019s weakness due to heavy reliance on imports. Speaking to Sudans Post on Wednesday, Abraham Matoc, Vice-Chancellor of Dr. John Garang Memorial University of Science and Technology, attributed high market prices to production costs inflated […]<\/p>\n","protected":false},"author":84,"featured_media":58368,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,265,233],"class_list":["post-58369","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-sudan","tag-south-sudan"],"yoast_head":"\nEconomist blames high costs of living on low productivity, import dependency - South Sudan<\/title>\n<meta name=\"description\" content=\"A South Sudanese economist has blamed the high cost of living on low productivity and the local currency\u2019s weakness due ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-blames-high-costs-of-living-on-low-productivity-import-dependency\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economist blames high costs of living on low productivity, import dependency\" \/>\n<meta property=\"og:description\" content=\"A South Sudanese economist has blamed the high cost of living on low productivity and the local currency\u2019s weakness due ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-blames-high-costs-of-living-on-low-productivity-import-dependency\" \/>\n<meta property=\"og:site_name\" content=\"South Sudan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-16T11:56:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-16T13:05:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2024\/05\/sm_1715850580.312342.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"868\" \/>\n\t<meta property=\"og:image:height\" content=\"578\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-blames-high-costs-of-living-on-low-productivity-import-dependency#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-blames-high-costs-of-living-on-low-productivity-import-dependency\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Economist blames high costs of living on low productivity, import dependency\",\"datePublished\":\"2024-05-16T11:56:09+00:00\",\"dateModified\":\"2024-05-16T13:05:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-blames-high-costs-of-living-on-low-productivity-import-dependency\"},\"wordCount\":257,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-blames-high-costs-of-living-on-low-productivity-import-dependency#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2024\/05\/sm_1715850580.312342.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Sudan\",\"South-Sudan\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-blames-high-costs-of-living-on-low-productivity-import-dependency#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-blames-high-costs-of-living-on-low-productivity-import-dependency\",\"url\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/economist-blames-high-costs-of-living-on-low-productivity-import-dependency\",\"name\":\"Economist blames high costs of living on low productivity, import dependency - 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