The Sudanese Minister of Finance in charge, Heba Mohamed Ali, pointed out that "the revised budget for the current year 2020 includes measures to amend the exchange rate of the Sudanese pound to reach the real price over the next two years."
She affirmed during a cabinet meeting, that "the private sector will be allowed to import unlimited quantities of gasoline to address the shortage of supply and in order to "rationalize" its price", stressing that "the government will continue to support wheat, medicine and cooking gas in the new budget", explaining that "the reason the budget amendment is the need to adopt policies that mitigate the negative impact of the Corona pandemic on the economic situation after public revenues decreased by 40 percent, considering that "the deficit has become very large, which necessitated a review of the budget and taking emergency measures, including the gradual adjustment of exchange rates and the customs dollar over a period of two years to reach the real price."
The official price of the dollar is 55 Sudanese pounds, compared to 140 pounds in the parallel market. The inflation rate has reached 136% on an annual basis, which has exacerbated economic hardships, according to Agence France-Presse. Sudan will embark on a program to adjust the exchange rate of currency starting next August, aiming to reach full liberalization within two years, as the private sector will be allowed to import fuel using the dollar at the free market price as of August as well.
Source (Al-Arabiya.net website, Edited)
