Sudan eyes stronger growth, exports, lower deficit in 2019Sudanese President Omar al-Bashir (PHOTO:FILE)Sudan expects stronger economic growth, a big rise in exports and a reduced budget deficit next year, according to a draft budget approved by the cabinet on Tuesday.Prime Minister Motazz Moussa said the 2019 budget was “based on real resources (and) disciplined spending”, adding that the government would prioritise higher production of oil, wheat and sugar as well as digital economy investments. Revenues are expected to increase by 39 percent to 162.8 billion Sudanese pounds ($3.43 billion) and the budget deficit to decline to 3.3 percent from 3.7 percent this year, in 2019, it said. Bashir also said Sudan remained “cohesive and stable” despite a big loss of oil revenues, following the secession of South Sudan in 2011. The revenues had accounted for 90 percent of exports and 40 percent of the budget, he said. With the secession, Sudan lost three-quarters of its oil output, a crucial source of foreign currency.

Source: Standard Digital December 20, 2018 06:11 UTC