Sudan Inflation Tops 67% In August

The inflation in Sudan continued rising to an unprecedented 66.88 percent in August from 63.94 percent in July, said Sudan’s Central Statistics Bureau Sunday.

The bureau attributed the rise to the decrease in the prices of necessary commodities, particularly food and drinks.

Sudan has been undergoing a dire economic crisis since the secession of South Sudan in 2011, due to which Sudan lost 75 percent of its oil revenues.

On Dec. 19, 2017, the Sudanese cabinet approved the budget for 2018, including new measures for cutting government spending, stopping construction of government buildings, and barring payment of any incentives or rewards without a prior approval from the Ministry of Finance.

The budget aims to stimulate the country’s GDP growth to reach 4 percent and bring inflation down to 19.5 percent.

Early in February, the Central Bank of Sudan decided to devaluate the Sudanese pound against U.S. dollar at an exchange rate of 30 SDGs for one dollar.

The move was meant to bridge the great gap between the official exchange rate of the Sudanese pound against the U.S. dollar and its rate at the parallel market which currently ranges between 42 and 43 SDGs for one dollar according to foreign currency dealers.