Sudan: We will not lift subsidies on wheat, fuel oil and cooking gas this year

Reuters

VINCENT KESSLER

Wheat spikes

Sudanese Finance Minister Jibril Ibrahim confirmed that the government will not lift subsidies on wheat, cooking gas or fuel oil that are used in electricity production this year, a day after lifting subsidies on gasoline and diesel.

He said: “The government is committed to abolishing the so-called customs exchange rate used to set import duties, and is studying the levels of customs duties to ensure that consumer prices are not affected.”

He continued, “The government is studying wide-ranging reforms of the banking system.”

He explained that “400,000 tons of wheat were produced last season, which was disappointing, and represents a quarter of the country’s needs of 1.6 million tons.”

Sudan is implementing a set of reforms monitored by the International Monetary Fund, including devaluing the currency in the hope of getting out of a long-term economic crisis and attracting foreign funding.

Source: “Reuters”






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