{"id":170176,"date":"2022-08-04T13:38:00","date_gmt":"2022-08-04T13:38:00","guid":{"rendered":"https:\/\/dabangasudan.preview.websight.nl\/sudan-economist-unjustifiable-rise-in-petrol-prices-will-further-increase-the-people-s-suffering\/"},"modified":"2022-10-17T08:08:56","modified_gmt":"2022-10-17T08:08:56","slug":"sudan-economist-unjustifiable-rise-in-petrol-prices-will-further-increase-the-people-s-suffering","status":"publish","type":"post","link":"https:\/\/www.dabangasudan.org\/en\/all-news\/article\/sudan-economist-unjustifiable-rise-in-petrol-prices-will-further-increase-the-people-s-suffering","title":{"rendered":"Sudan economist: \u2018Unjustifiable rise in petrol prices will further increase the people\u2019s suffering\u2019"},"content":{"rendered":"<p><strong>In an interview with Radio Dabanga, economic analyst, Hafiz Ismail, described the recent increases by the Ministry of Finance on fuel and electricity as &lsquo;unjustified&rsquo;, adding that &ldquo;it will further increase the people&rsquo;s suffering, especially among low-income earners&rdquo;.<\/strong><\/p>\n<p>The price hike in <a href=\"https:\/\/www.dabangasudan.org\/en\/all-news\/article\/transport-tariffs-increase-dramatically-whilst-economy-continues-to-suffer\">fuel prices set by the Finance Ministry<\/a>, which soared to 30 per cent recently, comes at a time when the &ldquo;price of electricity has become dozens of times higher than the value of its production cost,&rdquo; he said.<\/p>\n<p>These unwarranted price rises are due to an increase in taxes and &ldquo;fall on the shoulders of people already <a href=\"https:\/\/www.dabangasudan.org\/en\/all-news\/article\/world-bank-to-provide-100-mn-to-wfp-for-sudan-food-emergency-project\">suffering from difficult economic conditions<\/a>&rdquo;.<\/p>\n<p>The economist added that the economy allows for a rise in taxation, but this is &ldquo;conditional on investing those increases in sectors that can achieve a beneficial return, meaning that a rise in taxation should negate the increases, by improving the people&rsquo;s condition in other areas of life&rdquo;.<\/p>\n<p>According to Ismail, the Finance Ministry does the exact opposite in their use of the tax money, as much has been spent on financing and bolstering the security forces.<\/p>\n<p>He warned that the inflationary increases in taxation will adversely impact the people, causing the government to resort to printing more money, which causes inflation, and makes <a href=\"https:\/\/www.dabangasudan.org\/en\/all-news\/article\/new-sdg-1-000-note-proves-pound-s-plunging-purchasing-power\">the Sudanese currency susceptible to fluctuation<\/a>, after only recently recovering in its stability against hard currencies.<\/p>\n<div class=\"sws_supernormalaction\"><button on=\"tap:superwebshare-lightbox\" class=\"superwebshare_normal_button1 superwebshare-button-large superwebshare-button-square superwebshare_prompt superwebshare_button_svg\" 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increases by the Ministry of Finance on fuel and electricity as \u2018unjustified\u2019, adding that \u201cit will further increase the people\u2019s suffering, especially among low-income earners\u201d.<\/p>\n","protected":false},"author":6,"featured_media":58037,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[34,29,27,43],"tags":[],"class_list":["post-170176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-2021-coup","category-economy","category-news","category-opinion-and-analysis"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sudan economist: \u2018Unjustifiable rise in petrol prices will further increase the people\u2019s suffering\u2019 - Dabanga Radio TV Online<\/title>\n<meta name=\"robots\" content=\"index, follow, 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