Sudan Inflation Reaches 54%
Sudan Inflation Reaches 54%

Sudan Inflation Reaches 54%

Sudan Inflation Reaches 54%

Sudan’s Ministry of Finance and National Economy said inflation rate has significantly increased during the first quarter of 2018 compared to the same period in 2017. The ministry said inflation has risen to 54% during the first quarter of 2018 compared to 33% in 2017, AllAfrica reported. The ministry report pointed to a number of challenges facing the Sudanese economy including the government subsidies for the fuel and drugs and the exchange rate policy. According to the report, the gross national product in the first quarter of 2018 reached 4% compared to 4.4% in 2017. It pointed out that the trade balance deficit has declined to $934 million compared to $947 million during the same period in 2017. In January, the director of the Troubled Currencies Program at Johns Hopkins University Steve Hanke said Sudan’s inflation has skyrocketed to a record high of 122% pointing the East African country “now has the second highest inflation rate in the world after Venezuela”. The government seeks to achieve an average inflation rate of 19.5% by the end of the 2018 fiscal year compared to 34.1% in 2017.


Short URL : https://goo.gl/ASqJKA
  1. https://goo.gl/dn6w13
  • https://goo.gl/ag3pmi
  • https://goo.gl/7fdPM5
  • https://goo.gl/o7zyKA
  • https://goo.gl/nSFP3H

You can also read ...

The treasury department in Washington
Foreign governments pulled back their purchases of longer-term...
Brazil, India Corporate Debt at Risk of Default
A 200 basis-point increase in interest rates could spark a...
Shares of petrochemical companies in Asia slumped on Tuesday, tracking the global equity downturn overnight.
The trade dispute between the world’s two largest economies...
China Accuses Trump of Blackmail, Vows Strong Retaliation
China vowed to retaliate after President Donald Trump...
Six people including two former HBOS bankers were jailed last year.
An internal Lloyds Banking Group report written by a former...
Italy on Debt Reduction Path
Italy will try to reduce debt to preserve investors’...
London Metals Cut Losses
London metals edged higher and Shanghai contracts cut early...
Mario Draghi
Mario Draghi promised that the European Central Bank will take...

Add new comment

Read our comment policy before posting your viewpoints