World Economy

Sudan Still Faces Many Problems

Sudan Still Faces Many ProblemsSudan Still Faces Many Problems

Sudan’s draft budget for 2018 is estimated at 173.1 billion Sudanese pounds ($24.7 billion), state news agency SUNA quoted Finance Minister Othman Rukabi as saying at an emergency parliamentary session, Reuters reported. The Sudanese pound, held at an official level of 6.7 to the dollar, has steadily weakened to more than three times that rate on the black market after the United States lifted a 20-year-old trade embargo in October. The import-dependent country hopes to see its economy grow by 4% in 2018, the cabinet said on Wednesday after it approved next year’s proposed budget. The government in November said it would take new measures to unify the Sudanese pound’s exchange rates by January, but ruled out a currency float. Sudan’s economy has been struggling since the south seceded in 2011, taking with it three-quarters of the country’s oil output. After all, in principle, the removal of sanctions should help grow the economy. However, in practice, the economy continues to show little gain and numerous problems.


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