High food prices push-up inflation in Sudan
The rate of inflation in Sudan recorded a new high during August of 53.13% compared to 52.59% for the month of July, according to the Central Statistical Organisation, which attributed the increase to the high prices of food, beverages, meat, and grains. The food group contributes 61.88% of the general inflation, according the official figures.
Finance Minister Ibrahim El Badawi stressed the need to maintain commodity support for the time being to minimise the effects of macroeconomic balances.
El Badawi said that the government will launch specific projects in the 2020 budget to add value to the sectors of meat and oil grains. El Badawi said that he is counting on the Ministry of Finance in the implementation of an emergency programme within a period set by 200 days.
PM: No new taxes
Prime Minister Abdallah Hamdouk ruled out imposing any new taxes and stressed that the priorities of his government for the next three years are to stop the economic deterioration first, restore confidence in the banking system, and address the imbalance in the budget and trade balance and lay the foundations for a national economy based on production.
Hamdouk said that the government’s transition programme in the economic field begins with stopping the war and establishing sustainable peace.
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