Home | News    Thursday 2 March 2017

Sudan’s inflation rises to 32,86 percent in January

separation
increase
decrease
separation
separation

A vendor sells eggs at a local market in north Khartoum on August 3, 2012. (Reuters Photo)
March 1, 2017 (KHARTOUM) - Sudan’s Central Bureau of Statistics (CBoS) on Tuesday reported that inflation jumped to 32,86% in January compared to 30,47% in December due to the continued rise in food and energy price.

Last November, the government lifted fuel, electricity and drug subsidy in a bid to stop the surge in inflation and control the fall of Sudanese pound in the black market.

Also, Central Bank of Sudan introduced an incentive policy, increasing the exchange rate in commercial banks by 131%. As a result, the U.S. dollar exchange rate went up in banks to 15.8 SDG from the official rate of 6.5 SDG.

Following the CBoS decision, the dollar price went up and settled at 19,4 pounds on the black market.

However, after the U.S. decision to ease economic and trade sanctions imposed on the east African nation since 1997, the dollar price fell slightly in the black market and settled at 17,75 SDG.

In a move to reduce the demand for the U.S. dollar and protect domestic industry, the government banned the import of frozen meat and fish and raised tariffs on a number of imports. However, these restrictions pushed inflation further high given the country is heavily dependent on imported goods.

In December, the Sudanese parliament approved the 2017 budget expecting the deficit would reach 2,1% of the Gross Domestic Product (GDP) compared to 1,6% in 2016.

According to the budget, the growth rate would decline from 6,4% in 2016 to 5,3% and the targeted average inflation rate is 17%.

Sudan’s economy was hit hard since the southern part of the country declared independence in July 2011, taking with it about 75% of the country’s oil output.
Ordinary citizens continue to complain from cost of living increases that impaired their access to basic commodities.

(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.

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 political calculations of Sudan’s military regime 2019-04-22 20:37:26 How Sudanese President Omar al-Bashir was overthrown and what happens next in Sudan By Ahmed H Adam* On April 11, after 30 years in power, the longstanding dictator, General Omar al-Bashir, was (...)

Will the military or the people lead Sudan? 2019-04-22 16:25:04 Support by regional and international partners will be critical to address the economic crisis, as well as the reformation of government institutions, ministries and security agencies By Ahmed (...)

Will uprising in Sudan provide a new political dispensation? 2019-04-20 06:25:31 By Luka Kuol* The recent wave of uprising in some African countries shows the new means of contesting the African rulers who stayed in power for so long and are hardly to be unseated through the (...)


MORE






Latest Press Releases


Sudanese lawyers and Human rights defenders back calls for civil rule 2019-04-26 10:22:06 Press statement by 55 Sudanese lawyers and Human rights defenders on Sudan Sit-in and Peaceful Protest Khartoum -24/04/2019 We, the undersigned (55) Sudanese lawyers and human rights defenders, (...)

South Sudan’s Lafon youth condemn killings of civilians by Pari community 2019-04-03 21:54:29 Press Statement on the Fighting between Pari/ Pacidi and Lotuko/Lokiri on 24/3/2019 Release by The Lafon County Youth Union: We, the Lafon County Youth Union hereby condemn the atrocities and (...)

Joseph Malwal Dong joined the SPLM/A -IO 2019-04-02 08:35:02 SPLM/A (IO) Press Release 1/4/2019 On Hon. Joseph Malwal Dong Joined the SPLM/A (IO) The leadership of the SPLM/A (IO) would like to seize this precious opportunity to announce to members and (...)


MORE

Copyright © 2003-2019 SudanTribune - All rights reserved.