Sudan: Inflation slows down…and exports rise 68% to 2.53 billion dollars,...

Sudan: Inflation slows down…and exports rise 68% to 2.53 billion dollars,...
Sudan: Inflation slows down…and exports rise 68% to 2.53 billion dollars,...

KHARTOUM – News agencies: Sudan’s inflation has fallen for the first time under the country’s transitional government that took power two years ago, as the currency shows 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 long-running trend characterized by large monthly increases in inflation that pushed it 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 removing fuel subsidies and devaluing the currency in February.
Citizens say the reforms have made the prices of many goods and services unaffordable. Employees in many sectors, including teachers, periodically went on strike, demanding higher wages.
In recent weeks, the currency has stabilized in 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 the other hand, the Central Bank of Sudan said yesterday that the country exported goods worth 2.53 billion dollars in the first half of this year, an increase of 68 percent over the same period last year, describing the increase as “insufficient” compared to an import bill of 4.16 billion dollars.
Sudan is suffering from a deep economic crisis and the government is working to increase exports, especially agricultural, to lift the country and attract foreign aid and investment. Central Bank data showed that gold came at the top of the list of exports, as Sudan exported 16.7 tons worth about one billion dollars, almost all of which went to the United Arab Emirates.
Most of the gold produced in Sudan is smuggled. The government says it is cracking down on smuggling, and the data showed a 250 percent increase in gold exports.
Other major exports include peanuts, sesame, and cattle. Sudan has recorded a wide annual trade deficit, ranging from four billion dollars to more than six billion dollars, since the secession of oil-producing South Sudan in 2011.
The shortage of foreign reserves has led to a shortage of vital medicines, queues at gas stations and bakeries, as well as power cuts in the past few years. In the first half of the year, Sudan was able to import wheat worth $239 million, petroleum products worth $215 million, and medicine worth $236 million.
On the other hand, Sudan and Saudi Arabia agreed to form mechanisms to discuss economic and investment files between the two countries.
The announcement of the agreement came in a statement issued by the Saudi-Sudanese Investment Forum, which concluded its activities the day before yesterday and was held with the participation of 45 Saudi businessmen and lasted for two days.
The Sudanese side was chaired by the Minister of Agriculture and Forests, Al-Taher Al-Harbi, while the Saudi side was headed by the Minister of Agriculture and Water, Abdul Rahman bin Abdul Mohsen Al-Fadhli. And the Undersecretary of the Sudanese Ministry of Investment and International Cooperation, Ahlam Madani Sabeel, announced an agreement to hold a forum for businessmen from the two countries in Khartoum next October, to sign agreements and memoranda of understanding that are expected to be reached, in addition to discussing new investment projects.
The statement quoted Sabeel as saying that “the two sides agreed to form mechanisms to discuss the files related to the economy and investment.” She added that the two sides “discussed a number of projects proposed for investment in the agricultural and irrigation sectors, livestock, energy, oil and electricity, mining, communications, digital transformation, transportation and infrastructure.”
Saudi Arabia ranks first among Arab investments in the Sudanese agricultural sector.
The volume of Saudi investment in Sudan amounted to about $35.7 billion in the period from 2000-2020, according to the Sudanese government.

…and a Turkish delegation visits Khartoum to enhance cooperation in the field of livestock

Khartoum – Anatolia: The Sudanese Minister of Agriculture and Livestock, Hafez Ibrahim Abdel Nabi, said that he discussed yesterday with a technical delegation from the Turkish Ministry of Agriculture and Forestry in the capital, Khartoum, ways to enhance cooperation in the field of livestock between the two countries.
This came in a meeting of a joint technical committee from the ministries of agriculture in the two countries, according to what was stated in a joint press briefing by the Sudanese minister with the Turkish ambassador to Sudan Irfan Nazir Oglu, at the headquarters of the Sudanese Ministry of Agriculture and Livestock.
The committee includes specialists from various sectors related to livestock, such as dairy, animal health and slaughterhouse experts.
The Sudanese minister expressed his country’s full readiness to cooperate in this field and to benefit from the Turkish experience in the field of livestock.
For his part, Nazir Oglu, the Turkish ambassador to Sudan, said that all issues related to animal health and vaccination were put on the table for discussion between the two sides.
He stressed his country’s determination to “develop a road map and work together to develop the livestock sector in Sudan.”
Livestock is one of the most important sources of foreign exchange for Sudan, and its exports in the first half of this year amounted to about 1.5 million head of livestock, according to the Sudanese Minister of Agriculture.
According to the latest data issued by the Sudanese Ministry of Livestock and the Statistics Institute, the number of livestock in Sudan reached about 72 million sheep and goats, 40 million cows, and 5 million camels.

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