Sudan-Economy

Sudan trade deficit reaches $7billion

APA-Khartoum (Sudan)

Sudan’s economy needs far-reaching reforms as its trade deficit reaches $7 billion, according to Prime Minister, Motaz Mousa, on Monday.

Sudan has been in a dire economic crisis since South Sudan seceded with 75 percent of oil fields in 2011.

Speaking at a seminar in the capital Khartoum, Motaz, explained that Sudan’s non-oil exports worth $2.5.billion, while imports are $9.5 billion,

The PM pointed out that the deficit is the main cause of the economic crisis facing the country and said the only way to reduce it is by increasing production of wheat and cotton for export.

He said the government has taken measures to increase non-oil exports to raise its Gross National Products (GNP) which is currently $100 to up $420 billion in next two years.

Despite the lifting of 20-year US economic sanctions on Sudan in 2017, the local currency recently lost its value and the country has been hit by a shortage of oil and foreign exchange and raise the price of breads.

The economic situation had provoked anger and frustration as thousands take to the streets across Sudan in recent months, demanding President Omar al-Bashir to step down.

Bashir in power since a coup in 1989, blamed the West for the economic crisis, but the opposition accused his government of corruption.


AR\as\APA

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