Current Date:

Thursday, 23 November 2017

Al-Zubeir: Recent Economic Measures Connect with Reform

Khartoum - The Chairman of the Economic Sector at the National Congress Party (NCP) Mohamed Kheir Al-Zubeir said the recent economic

measures are not in alienation from the process of reform and tackling the defects of the economy since the secession of South Sudan in 2011.
Al-Zubeir elaborated in an interview with Sudan News Agency (SUNA) Monday that this package is the third one and it is geared towards closing the deficit in the general budget and the external balance.
He stressed that the most important element of the said package is that it worked towards restructuring the subsidy in favor of production instead of consumption a matter that lead to non-occurrence of any scarcity in the basic commodities.
He affirmed that the stated has ended subsidizing sugar, benzene, gas, planes gas nothing left except gasoline and wheat which is partially subsidized. Noting that these measures have reduced internal budget deficit from 5 to 1 percent and the internal budget gap has now become within the safe limits.
He attributed the deterioration of the national currency exchange rate to the external gap due to the decline of the prices of most of the Sudanese exports like petroleum and gold. He noted that gold prices declined by 20% in addition to non-implementation of economic measures with the state of South Sudan.
 He believes the package will bring about positive outcomes and it stems from the recommendations of national dialogue conference.