Home | News    Wednesday 12 September 2012

Sudan’s August inflation remains above 40 as dollar’s exchange rate continues to fluctuate

separation
increase
decrease
separation
separation

September 11, 2012 (KHARTOUM) – Month-on-month inflation in Sudan rose from 41.6 percent in July to 42.1 percent in August due to soaring prices of imports whereas the value of the U.S. dollar in the black market for hard currency continued to seesaw.

JPEG - 10.6 kb

Sudan’s economy has been struggling with rising inflation and a depreciating currency since the country lost three-quarters of its oil production – the main source of state revenues and hard currency reserves – due to South Sudan secession in July last year.

In response, the government scaled back fuel subsidies as part of what officials describe as austerity measures needed to plug a budget gap of 2.4 billion resulting from the loss of oil revenues.

The monthly bulletin of the country’s Central Statistics Office said that inflation rose in August by 4 percent due to increases in the prices of imports, mainly clothing and shoes which accounted for 12.3 percent of the figure.

The International Monetary Fund (IMF) which supports Sudan’s response to the economic crisis says inflation could fall significantly if the government fully implements its austerity program and improves tax collection.

Meanwhile, the price of the US dollar in the black market keeps increasing and decreasing slightly. The exchange rate went to 5.950 Sudanese pounds for selling and 5.90 for buying from the previous day’s rates of 5.950 for buying and 6.26 for selling.

Black market traders attributed the slight decrease to the shortage of supply as well as the Central Bank’s purchase of the surplus of hard currency of government-licensed FOREX bureaus. They also pointed to increased crackdown by the economic department of the National Intelligence and Security Services (NISS) on the unofficial trade.

Sudan has witnessed slight improvement in the rates gold and of U.S. dollar exchange following the announcement of a deal to resume exporting South Sudan oil via Sudan, which sparked hopes for increased supply of hard currency.

(ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.
  • 12 September 2012 12:22, by hellonearth

    PLEASE ALL THE FAKE ARABS IN THIS BLOG SAY SOMETHING ABOUT YOUR FAILING ECONOMY AND SOON YOU WILL HAVE TO LEAVE SUDAN FOR SAUDI ARABIA AS REFUGEES. JALABY, SUDANI ANA, MOHAMED ALI, AND THAT IDIOT OF A PERSON KURNYEL.... DON’T CHOKE.... ITS TOO EARLY FOR THAT

    repondre message

    • 12 September 2012 12:27, by Aaban

      This is how they run the country of people,
      Their evil power is winning every minute and they are happy with it,
      Those who sold their soul to evil do not care for anything apart from their stomach which drived them with a big force of greediness,,
      Foolish foreigner are massing up our country with a greed of power, time will came,

      repondre message

    • 12 September 2012 13:56, by South South

      That why Sudanese young men are for sell to Libya. Libya is giving them water mixed gas to drink. Sudan will be nothing without South Sudan, everyone in Khartoum no that. People stop eating meat. They are waiting for South Sudan oil to come. I have not seen any country in this world where people are for sell.

      repondre message

      • 12 September 2012 15:09, by Lokiliri 4 Ever

        They are now facing the reality on ground. You remember when Omar el Bashir said that we should drink our crude oil if we don’t want to export it. He thought we are the one going to suffer. Let them now eat the snuffs they are producing in the north.

        repondre message

      • 12 September 2012 18:12, by zulu

        It will still become worst if Darfur, BN and Nuba Mts break away taking with them the rest of the resouces and leaving the wannabes with the desert. I see many of them in south sudan now pretending to dislike the ruling party. soon, the worst will hit becausethey have confiscated and looted shops of the Fur and the Nuba people in khartoum

        repondre message

  • 13 September 2012 02:52, by Observer

    Jalaby, M Ali. N Sudanese etc
    Notes you are not quickly jumping on here and making comments about our 40%+ inflation rate- now that it is around the same as S Sudan.
    Embarrassed that our inflation rate is as bad as S Sudan’s??
    I remember being called a liar and traitor a few months ago because I said about inflation rate being over 40%. Maybe you now believe me about our poverty rates.

    repondre message

Comment on this article


 
 

The following ads are provided by Google. SudanTribune has no authority on it.


Sudan Tribune

Promote your Page too

Latest Comments & Analysis


The theory of African president and prime minister, working together 2014-11-22 05:32:12 By Steve Paterno November 21, 2014 - Africa is notoriously known for political instability, stemming in most cases, over power struggle among the ruling elites. Often times, the best and quick (...)

The UNAMID internal report on mass rape in Tabit. 2014-11-21 06:09:21 What UNAMID really said about their investigation of mass sexual assaults on Tabit: The internal report on what investigators found By Eric Reeves November 20, 2014 - On November 12, 2014 (...)

Bullying Darfur 2014-11-13 18:13:39 By Namaa Al-Mahdi November 13, 2014 - “We broke their backs in Abu Karshola, I doubt they have recovered since,” said a prominent Sudanese Armed Forces (SAF) member about their counter attack on (...)


MORE








Latest Press Releases


Sudan Democracy First Group condemns wave of arbitrary arrests in Sudan 2014-09-25 05:17:35 Sudan Democracy First Group 25 September 2014 - In a desperate attempt to prevent a series of events commemorating the victims of the September 2013 protests, Sudan’s notorious National (...)

HRW calls on UN rights body to press Sudan to investigate murder of peaceful protesters 2014-09-24 21:24:09 Human Rights Watch One Year On, No Justice for Protester Deaths (Geneva, September 23, 2014) – The United Nations Human Rights Council should call on Sudan to account immediately for the death (...)

Hundreds walk for peace in South Sudan 2014-09-23 08:30:16 National Platform for Peace and Reconciliation (NPPR) PRESS RELEASE Juba, 21 September 2014 - Hundreds of people took to the streets of the South Sudan capital Jubato ‘Walk for Peace’and demand (...)


MORE

Copyright © 2003-2014 SudanTribune - All rights reserved.