Arab Today, arab today sudan faces severe economic crisis
Last Updated : GMT 06:05:13
Arab Today, arab today
Arab Today, arab today

Sudan faces severe economic crisis

Arab Today, arab today

Arab Today, arab today Sudan faces severe economic crisis

Khartoum - Arabstoday

Bread and meat prices have risen at double-digit rates across Sudan in recent months as the value of the country\'s currency has fallen.Protests flared for a 10th day yesterday as people vented their anger at the increasing prices of everyday items and government spending cuts. But the protests have also taken on an anti-government flavour, with some activists calling for changes to president Omar Al Bashir\'s government. \"Sudan is facing a very serious crisis as it belatedly imposes austerity measures,\" said an expert on Sudan who asked to remain anonymous because of ties to the government. The protests come against a backdrop of instability after the secession of South Sudan last July. The split meant Sudan lost 40 per cent of its oil revenue, 80 per cent of its foreign-exchange reserves and 20 per cent of its population. In response, the government has sought to rebalance its economy by introducing austerity measures aimed at cutting spending. Subsidies on fuel and sugar have also been partly lifted by Mr Al Bashir, in a move that has been welcomed by the IMF. On Sunday he dismissed the protests \"as no Arab Spring\", saying the number of demonstrators were small. But after a group of students at the University of Khartoum began demonstrating this month, other groups inside and outside the capital have taken to the streets. Rising food prices and the depreciation of the Sudanese pound has caused inflation to climb to 30 per cent last month from a year earlier. Inflation is expected to remain at a high level after the government announced a 50 per cent jump in petrol prices this month. Sudan has other deep-seated problems. The budget deficit is forecast to widen to 5.4 per cent of GDP this year from 5 per cent last year as the loss of oil revenues, armed conflict and financing a peace deal with South Sudan take a toll on public funds. \"As a result of US sanctions as well as Sudan\'s heavy debt, external borrowing options are severely limited and internal borrowing is likely to increase,\" according to African Economic Outlook, an annual report covering developments across the continent. After visiting the country last month, an IMF mission urged Sudan to do more to create jobs. Youth unemployment stood at 22 per cent, official data for 2009 shows, double the jobless rate for adults. A high rate of population growth means openings in the labour market are not keeping pace with the proportion of youths who are at working age. But analysts say a change in Sudan\'s fortunes may only come about when it patches up differences with its new neighbour South Sudan, which shut down its oil output of 350,000 barrels a day in January after Sudan started taking oil in returned for what it said were unpaid fees. Sudan has also barred its landlocked neighbour from exporting crude through its territory unless border disputes are settled. The two nations have yet to sign a United Nations security council resolution proposed last month, requiring both to agree to security measures and resuming oil production and export. \"On that basis [once that\'s agreed], the south will have an income again, the north will obtain some revenues from tariffs, and the north can turn to the international community to lift sanctions and allow it access to debt relief and concessionary finance,\" said the Sudan expert.from the national.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today sudan faces severe economic crisis Arab Today, arab today sudan faces severe economic crisis

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced

GMT 05:29 2017 Tuesday ,21 February

Sovereign funds pulled $38bn from markets in 2016

GMT 05:15 2017 Tuesday ,21 February

Gold firms as markets await Trump tax plans

GMT 04:58 2017 Tuesday ,21 February

EU, IMF in ‘common position’ on Greece crisis
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st female Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st female Scotland Yard chief in 188 years
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday