Sudan Raises Prices of Gasoline, Diesel

Motorcyclists queue-up for fuel at a gas station in al-Amarat district of Sudan's capital Khartoum on June 10, 2021.
Motorcyclists queue-up for fuel at a gas station in al-Amarat district of Sudan's capital Khartoum on June 10, 2021.
TT

Sudan Raises Prices of Gasoline, Diesel

Motorcyclists queue-up for fuel at a gas station in al-Amarat district of Sudan's capital Khartoum on June 10, 2021.
Motorcyclists queue-up for fuel at a gas station in al-Amarat district of Sudan's capital Khartoum on June 10, 2021.

Sudan's energy ministry raised the price for car petrol to 620 Sudanese pounds ($1.07) per liter from 522 pounds per liter, it said in a statement on Thursday.

It raised the price for diesel to 720 pounds per liter from 672 pounds, it said.

The Ministry said the decision came as part of its monthly revision policy based on international prices of petroleum products.

Meanwhile, Minister of Finance and Economic Planning, Jibril Ibrahim, said on Wednesday that the government is borrowing limited sums of money from the Central Bank, but was still able to control inflation.

The Sudanese economy has been in crisis for years. However, the economic collapse deepened since the military seized control in a coup in October 2021, halting a transition towards democratic elections following Bashir's overthrow in a 2019 uprising.

Meanwhile, western governments have suspended crucial aid in addition to a debt restructuring program that is supervised by the International Monetary Fund (IMF).

Asked about the amount of local currency printed by the Central Bank, Ibrahim said: “Not much. We have a ceiling and fortunately we have not reached that limit.”

Ibrahim told Reuters on the sidelines of the COP27 climate talks in Egypt, that Sudan is borrowing within the limits set by the IMF.

“This is not negatively affecting inflation or the exchange rate,” he said.

International lenders and western donors said economic support to Sudan would resume once a civilian government is established.

Lately, Sudan's military leaders have submitted notes on a draft constitution as a basis for talks under international mediation.



GASTAT: Saudi Industrial Production Index Increases by 3.4% in November 2024

GASTAT publishes the IPI monthly. SPA
GASTAT publishes the IPI monthly. SPA
TT

GASTAT: Saudi Industrial Production Index Increases by 3.4% in November 2024

GASTAT publishes the IPI monthly. SPA
GASTAT publishes the IPI monthly. SPA

Saudi Arabia’s General Authority for Statistics (GASTAT) said Thursday that the Industrial Production Index (IPI) statistics for November 2024 showed a 3.4% increase compared to the same month of the previous year.

This increase is driven by growth in mining and quarrying, manufacturing, water supply, sewerage, and waste management and remediation activities, GASTAT said.

Furthermore, the sub-index of mining and quarrying activity increased by 1.2%, and the sub-index of manufacturing activity increased by 7.2%.

The sub-index of electricity, gas, steam, and air conditioning supply activity recorded a decrease of 2.1%, and the sub-index of water supply, sewerage and waste management and remediation activities increased by 10.5%.

The IPI by main economic activities increased by 3.8% compared to the same month of the previous year, while the index of non-oil activities also increased by 2.4%.

GASTAT publishes the IPI monthly. It is an economic indicator that reflects the relative changes in the volume of industrial output. It is calculated based on the industrial production survey.