Sudan approved its first budget since Washington removed its name from its list of countries sponsoring terrorism.
The Transitional Sovereignty Council said in a statement that “the joint meeting of the councils of sovereignty and ministers approved the budget for the current fiscal year 2021.”
The statement quoted Minister of Finance and Economic Planning in charge, Heba Ali, as saying, “This is the first budget prepared after the signing of the Sudan Peace Agreement in Juba, and the removal of Sudan from the list of countries sponsoring terrorism.”
She added, “The Ministry of Finance will take full advantage of all the opportunities that were created after the removal of Sudan’s name from the list of countries sponsoring terrorism, including openness to the international financial system, foreign investment expectations, and all the resulting agreements.”
Sudan has plunged into a serious economic crisis, exacerbated by the Covid-19 pandemic, accelerating inflation and massive debt.
While the dollar exchange rate officially reaches 55 Sudanese pounds, the green currency on the black market currently reaches 270 pounds.
The Sudanese authorities especially hope that they will be able to reduce the inflation rate from more than 250% currently to 95% by the end of this year.
Ali said that Khartoum has allocated $ 976 million in budgetary expenditures to consolidating peace and developing marginalized and conflict-affected areas.
The government has also allocated $ 1.7 billion in the budget to strengthen the country’s fragile health system and enable it to cope with the Covid-19 pandemic.
For several months, pharmacies and hospitals in Sudan have been suffering from a shortage of medicines.