Inflation slows down in Sudan to 387.56%

Inflation slows down in Sudan to 387.56%
Inflation slows down in Sudan to 387.56%

KHARTOUM (Reuters) – Down inflation in Sudan For the first time under the country’s transitional government, which took office two years ago, the currency is showing signs of stabilizing after a year of tough economic reforms.
Inflation slowed sharply from 422.78 percent in July to 387.56 percent in August, ending a trend of big monthly increases that pushed inflation to a level not seen in decades.
Sudan is in the midst of a deep economic crisis, while declining reserves usually lead to shortages of fuel, bread and essential medicines.
In order to attract support and foreign investment, the government implemented economic reforms that the International Monetary Fund is monitoring, including the removal of fuel subsidies and the devaluation of the currency in February.
In recent weeks, the currency has stabilized on the official and parallel markets at a price of about 450 Sudanese pounds to the dollar.
According to government data, inflation increased in five out of eight Sudanese states, and Gedaref state recorded the highest rate at 977.01 percent.
On Monday, the Central Bank of Sudan said that the country had managed to increase exports by 68 percent, but stressed that this level was not enough.

These were the details of the news Inflation slows down in Sudan to 387.56% for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV LEAP investment workshop uses Lego to encourage entrepreneurial culture change
NEXT Exxon smashes Western oil majors’ profits with $56bn in 2022

Author Information

I am Jeff King and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind Al-KhaleejToday.NET with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Financial” category. Address: 383 576 Gladwell Street Longview, TX 75604, USA Phone: (+1) 903-247-0907 Email: [email protected]