Public Management

Sudan’s govt raises gas prices to cut budget gap

Sudan’s govt raises gas prices to cut budget gap
Thursday, 29 October 2020 16:54

The Sudanese government will increase fuel prices in the country, Khairy Abdel-Rahman, the Minister of Energy and Mines reported.

According to the official, prices will be doubled. The pump price of locally produced diesel will rise to 46 Sudanese pounds ($0.8364) per liter from 23 pounds previously while the price of gasoline will increase from 28 to 56 pounds.

According to the authorities, the new measure, which comes into effect immediately, is aimed at reducing the state budget deficit. However, at a time when the country is going through an economic crisis manifested by high inflation, a shortage of necessities, and a depreciation of the national currency, this decision could anger many Sudanese who have already been impoverished by the long years of mismanagement by the al-Bashir regime.

For several years now, Sudan has always practiced a policy of subsidizing petroleum products, which has enabled the population to have access to cheaper fuel. However, this strategy has put a heavy strain on public finances and contributed, according to several analysts, to the economic crisis that led to the fall of General Omar al-Bashir in 2019.

As part of an IMF-led reform program, the country decided to "reform energy subsidies to create room for increased spending on social programs. The government also decided to allow importers to increase the price of imported fuel, up to 106 pounds per liter for diesel and 120 pounds for gasoline, well above the price of domestically produced fuel.

Moutiou Adjibi Nourou

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
IFC to provide $21.2M financing to Senegal’s Carrefour Médical Funds to expand local production, including dialysis kit components New...
Wise, a UK fintech, has received conditional approval to operate directly in South Africa, marking the company’s first regulated, on-the-ground...
Zazu raised $1 million in pre-seed funding to enter South Africa and Morocco ahead of a 2026 Africa-wide rollout. Over 1,000 SMEs are on...
FG Gold secured $330 million from AFC and Afreximbank for Baomahun, bringing total commitments to $430 million. The project aims to deliver...
Most Read
01

Vodacom Tanzania launches M-Pesa Global Payments, enabling seamless international transactions thr...

Tanzania’s Mobile Money Goes Global: Vodacom Partners with Visa, Alipay, and MTN
02

Kossi Ténou succeeds Badanam Patoki as president of the AMF-UMOA. Ténou brings over 20 years of e...

Togo’s Kossi Ténou Appointed President of AMF-UMOA
03

JA Africa launches $1.5M digital safety program in four African countries Initiative to ...

Google.org, JA Africa to Train Children, Teachers and Caregivers in Digital Safety
04

Francophone Sub-Saharan Africa hosts 860+ startups but faces deep structural weaknesses EY urges...

Major Tech Reforms Needed for Francophone SSA to Attract More Investment, Report Says
05

Botswana and Oman signed strategic agreements that include a 500-MW solar photovoltaic project. T...

Botswana, Oman Agree on 500-MW Solar Project in New Energy Partnership
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.