Sudan expects the economy to grow by 5.1% in 2019 against 4% in 2018, according to the government's draft bill adopted on December 19, 2018.
The draft bill also expects the budget deficit to drop from 3.7% in 2018 to 3.3% in 2019.
Exports should rise by 30% in 2019 while the government’s revenues will increase by 39% to SDG162.3 billion ($3.43 billion) according to the forecasts.
"The 2019 budget is based on real resources and disciplined expenditures," said prime minister Moataz Moussa (photo), indicating that the government is focused on an increase of the oil, wheat and sugar production as well as important investments in the digital economy.
In another statement, the head of state Omar al-Bashir announced a reduction of oil subsidies indicating that there could not be any real economic reform while leaving those subsidies untouched. The head of state also explained that Sudan was still united and stable despite an important loss of oil revenues after the separation with South Sudan in 2011.
Following this separation, Sudan lost ¾ of its oil production, which used to represent 90% of exports and 40% of the budget.
MTN Innovation Lab hosts Africa HealthTech Export 2025 Bootcamp in Cotonou Event targets s...
Public Eye claims over 90% of Cerelac samples in Africa contain added sugar, averaging 6 g per por...
China says Premier Li Qiang will attend instead of President Xi Jinping The U.S. and Russia also ...
Carlyle is assessing whether it can buy Lukoil’s foreign assets worth about $22 billion. The...
Niger installs 1,031 km of fiber across five national corridors Project aims to connect with Beni...
Senegal launches startup initiative to boost innovation and financing access Plan targets 500+ certified startups, 150,000 jobs by 2034 Certified...
Attack risks internet disruptions; investigation launched near Massakory EU-funded project aims to link Chad to regional and global networks...
DRC extends mining ban on 38 sites in rebel-held Kivu regions Move aims to curb M23 funding from illegal mineral exploitation UN reports $70M...
SolarX secures €15M loan from Afrigreen Fund to expand in West Africa Funds to refinance assets, support solar projects in four countries ...
Orange Egypt and Qatar’s Qilaa International Group have partnered to develop WTOUR, a digital platform offering trip planning, hotel bookings, local...
Singita will invest $60m to build a 60-bed lodge on Santa Carolina Island and $42m in projects across the Bazaruto Archipelago. The...