Home | News    Sunday 24 August 2014

Sudan to continue phasing out subsidies

separation
increase
decrease
separation
separation

August 23, 2014 (KHARTOUM) – Sudanese finance minister Badr al-Din Mahmoud said on Saturday that his government will continue lifting subsidies on consumer goods, stressing that the 2015-2019 economic programme is based on controlled economic liberalisation policy.

PNG - 160.6 kb
Sudanese finance minister Badr al-Din Mahmoud

Protests erupted in Sudan’s major towns last September following an announcement by the government that it was reducing subsidies on fuel and other basic commodities, leading to calls for regime change. At least 200 protesters died, 15 of them children and more than 800 others have been detained.

Mahmoud, who addressed a conference of the ruling National Congress Party (NCP) economic sector stressed that the quintet program underscored the need to carry out tax and customs reforms in order to increase revenues by focusing on direct taxes.

Earlier this month, the International Monetary Fund (IMF) published a memorandum issued by the Sudanese government in which it vowed to carry out several economic measures including lifting of government subsidies on energy sector besides revising customs exemptions and the tax code.

The minister said that the quintet program aims at achieving balanced development through redistribution of development projects among states and equitable distribution of national income among Sudanese people besides limiting government expenditure, stressing the need to increase resources and boost banks’ efficiency, investment and production.

He added that they are currently focusing on curbing inflation and attracting national and foreign investments besides stabilising the exchange rate, noting that the program seeks to increase agricultural, industrial, oil and mineral production, as well as transformational industries.

A bulletin issued by Sudan’s Central Bureau of Statistics (CBS) earlier this month showed that the monthly inflation rate edged upwards in the month of July to 46.8% from 45.3% in June amid sharp price increases o goods and services.

The government official further said the quintet program seeks to promote the private sector so that along with the public sector it could participate in achieving economic development.

He called for galvanising efforts to support the weak social sectors through coordination with partners such as the Zakat (alms) Chamber to fight against poverty and unemployment and achieve the desired social stability, saying the current stage requires promotion of health, education and water services.

Mahmoud also pointed to the negative impact caused by South Sudan’s secession and the international economic crisis on the Sudanese economy.

Sudan lost 75% of its oil reserves after the southern part of the country became an independent nation in July 2011, denying the north billions of dollars in revenues. Oil revenue constituted more than half of Sudan’s revenue and 90% of its exports.

The Sudanese pound lost 100% of its value since South Sudan’s secession. One US dollar is now trading at 9.4 Sudanese pounds (SDG) in the black market. The official exchange rate is around 5.7 pounds to the dollar.

(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.
  • 24 August 2014 11:44, by ForAll

    Sorry Mahmoud that you are throwing words to brainwash the minds of Sudanese peoples.

    What are the real resources that will support the economy of Sudan???

    What have you done for the improvement of Oil production??

    You better be open minded for a minute !!!!!

    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


A brief history one man’s destructive misrepresentations 2015-04-18 08:07:54 By Eric Reeves Al Jazeera America is currently airing a two-part documentary that attempts to represent the character and causes of the catastrophe that has overtaken South Sudan following the (...)

Sudan’s election marred by arbitrary detention, and insecurity 2015-04-18 06:31:10 By African Centre for Justice and Peace Studies Sudan’s national general elections began on 13 April 2015. Scheduled to end on 15 April, they were extended one day by the National Elections (...)

President Bashir’s elections: victory by default 2015-04-16 21:24:18 By Magdi El Gizouli Two days before the start of polling in Sudan’s ongoing elections on 13 April a quarter-page insert in the Khartoum newspaper al-Intibaha congratulated the former finance (...)


MORE






Latest Press Releases


Sudanese security arrest rights defender Adil Bakheit 2015-04-18 08:04:21 FRONT-LINE DEFENDRSPress StatementSudan Human rights defender Adil Bakheit arrested Human rights defender Mr Adil Bakheit was arrested on 16 April 2015 by the National Intelligence and Security (...)

Which do you choose? Peace or War? 2015-04-18 06:16:42 To the South Sudanese Diaspora Which do you choose? Peace or War? Coalition of Advocates for South Sudan, April 11, 2015 “The Voice of the South Sudanese Diaspora” Who are/What is the South (...)

Seventy-six organizations call for publication of AU Inquiry Report as deadline for peace passes 2015-03-07 05:04:51 6 March 2015: FOR Immediate Release SOUTH SUDAN: The African Union (AU) Peace and Security Council (PSC) should immediately consider, publish and disseminate the final report of the Commission (...)


MORE

Copyright © 2003-2015 SudanTribune - All rights reserved.