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Sudan Inflation Slows in Feb to 258.40%

A man waits to buy food at a market in Khartoum. REUTERS/Mohamed Nureldin Abdallah
A man waits to buy food at a market in Khartoum. REUTERS/Mohamed Nureldin Abdallah
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Sudan Inflation Slows in Feb to 258.40%

A man waits to buy food at a market in Khartoum. REUTERS/Mohamed Nureldin Abdallah
A man waits to buy food at a market in Khartoum. REUTERS/Mohamed Nureldin Abdallah

Sudan’s annual inflation slowed to 258.40% in February, from 259.8% in January, the statistics bureau said on Tuesday.

The Central Bureau of Statistics attributed the continued rise in prices to the price surge witnessed in February 2021.

The bureau said in a press statement that the monthly inflation rate of the general index of consumer and service prices recorded 14.39% during February 2022, compared to an average of 2.06% in January 2022.

The transportation group recorded the highest contribution rate to the monthly inflation rate, amounting to 87.13%, due to the rise in fuel prices.

The food and beverage group came next at 4%, followed by the total of household fixtures and equipment and routine maintenance work at 3.07%, due to the rise in the prices of cement and other household maintenance equipment.

The rate pf housing, water, electricity, gas, and other types of fuel group recorded 1.84%, due to a rise in electricity tariff and gas prices, in addition to a group of various goods and services at 1.26%.

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Syria Signs New 30-year Deal with French Shipping Giant CMA CGM

Syrian President Ahmed al-Sharaa (C) looks on as Joe Dakkak, the regional director of French shipping company CMA GGM, (L) and Latakia port director Ahmed Mustafa sign an agreement in Damascus on May 1, 2025. (AFP)
Syrian President Ahmed al-Sharaa (C) looks on as Joe Dakkak, the regional director of French shipping company CMA GGM, (L) and Latakia port director Ahmed Mustafa sign an agreement in Damascus on May 1, 2025. (AFP)
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Syria Signs New 30-year Deal with French Shipping Giant CMA CGM

Syrian President Ahmed al-Sharaa (C) looks on as Joe Dakkak, the regional director of French shipping company CMA GGM, (L) and Latakia port director Ahmed Mustafa sign an agreement in Damascus on May 1, 2025. (AFP)
Syrian President Ahmed al-Sharaa (C) looks on as Joe Dakkak, the regional director of French shipping company CMA GGM, (L) and Latakia port director Ahmed Mustafa sign an agreement in Damascus on May 1, 2025. (AFP)

Syria on Thursday signed a 30-year deal with French shipping and logistics group CMA CGM that includes building a new berth at Latakia port and investing another 230 million euros ($260 million) over the course of the partnership, a company official said.

Latakia port is Syria's main maritime gateway. CMA CGM began managing Latakia's container terminal in 2009, under now-ousted Syrian leader Bashar al-Assad. The contract was most recently renewed in October 2024, also under Assad, for 30 more years.

After the opposition toppled Assad in December, the new authorities began talks on an amended deal. It was signed on Thursday by officials from the company and from Syria's port authority.

"CMA CGM has signed today the concession of the port of Latakia for a 30-year contract. We are committed to modernizing and expanding the terminal to meet growing demand and strengthen supply chains in the region," Joe Dakkak, general manager at CMA CGM LEVANT, told Reuters.

Dakkak told local broadcaster Syria TV that the agreement included a 230-million-euro investment, as well as a project to build a new, deeper berth at Latakia in order to increase activity at the port.

A person familiar with the deal said CMA CGM would invest 30 million euros in the first year and the rest in the following four years. The person said the berth would be 1.5 kilometers (0.9 miles) long and 17 meters deep, with advanced infrastructure.

CMA CGM is controlled by Franco-Lebanese billionaire Rodolphe Saade and other members of his family, which has roots in Syria.

A Syrian source familiar with the negotiations had earlier told Reuters that Syrian authorities had hoped to negotiate a larger share of the revenues than the previous contract as well as a shorter timeframe for the terminal lease.