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.
AI-backed agri-fintech is increasingly being used to pilot new rural credit models in Africa, where ...
Investment bank BCID-AES established in Bamako Bank aims to fund infrastructure, agricultur...
This week’s health update shows Africa edging closer to the end of the mpox public health emergency,...
Standard Bank extended a USD 138 million facility to STEP, acting as sole arranger and advisor to ...
BNP Paribas entered exclusive preliminary talks with Holmarcom to sell its 67% stake in BMCI. ...
Funding will support fiber, data centers, and international connectivity Proparco contributes $15 million as part of the financing...
Kenya Airways appointed Chief Operating Officer George Kamal as interim CEO following Allan Kilavuka’s departure. Kilavuka exits after steering the...
Senegal and Gambia agreed on a five-year action plan covering 2025–2030 to deepen cooperation in higher education, research and innovation. The...
Airtel Africa signed a partnership with SpaceX to launch Starlink Direct-to-Cell satellite connectivity starting in 2026. The agreement aims to extend...
Algiers is a coastal capital of around four million inhabitants, located in north-central Algeria. Its urban structure, heritage, and social practices...
Palm Hills Developments signs agreement with Marriott International to introduce the St. Regis brand in West Cairo. Project to include a luxury...