Sudan to Raise Import Duties on 130 Items

Sudanese Customs Headquarters (Sudanese Customs Authority)
Sudanese Customs Headquarters (Sudanese Customs Authority)
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Sudan to Raise Import Duties on 130 Items

Sudanese Customs Headquarters (Sudanese Customs Authority)
Sudanese Customs Headquarters (Sudanese Customs Authority)

The Sudanese authorities have raised customs duties on 130 commodities, including gasoline and wheat, to cover the expected deficit in this year's budget.

The tariff hike, which immediately entered into force, would increase the prices of many imported and local goods amid the country's stagflation.

The Customs Authority stated that the amendment of customs categories came following the government's decision.

The increase in customs duties for transport vehicles of various weights ranged between 25 and 40 percent, while electric cars were exempted from any customs duties, and no new amendments were made to the customs of four-wheel drive vehicles.

Customs increases affected meat, fish, fruits, spices, and luxury goods, between 20 and 40 percent.

In February, Sudan's Sovereignty Council and the government approved the 2023 budget after a delay of over a month.

Budget revenues amounted to 7.363 trillion Sudanese pounds, and public spending amounted to 8.196 trillion pounds, with a deficit of 1.4 percent of GDP.

The state seeks to increase revenues and bridge the budget deficit by expanding the tax umbrella instead of raising taxes and rationalizing government spending.

The inflation rate in January dropped to 83 percent, compared to December last year, which recorded 87.32 percent.

The US froze aid worth $700 million and European Union countries announced the suspension of any financial assistance after Sudan’s military coup in October 2021.

The World Bank also suspended all aid to Sudan and halted decisions on any new operations after the military seized power.

The funds allocated to help civil transition are estimated at two billion dollars, in addition to supporting the budget and large economic projects that contribute to achieving estimated growth in the coming years.

The World Bank and the International Monetary Fund (IMF) had granted Sudan financial support to reduce its external debt by half under the Heavily Indebted Poor Countries (HIPC) initiative. The debt was reduced to $28 billion.



OPEC+ Countries Reaffirm Commitment to Market Stability on Current Healthy Oil Market Fundamentals

FILE PHOTO: OPEC logo is seen in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: OPEC logo is seen in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
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OPEC+ Countries Reaffirm Commitment to Market Stability on Current Healthy Oil Market Fundamentals

FILE PHOTO: OPEC logo is seen in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: OPEC logo is seen in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman, met virtually on May 3, 2025, to review global market conditions and outlook, SPA reported.
In view of the current healthy market fundamentals, as reflected in the low oil inventories, and in accordance with the decision agreed upon on December 5, 2024, to start a gradual and flexible return of the 2.2 million barrels per day voluntary adjustments starting from April 1, 2025, the eight participating countries will implement a production adjustment of 411,000 barrels per day in June 2025 from May 2025 required production level.

This is equivalent to three monthly increments. The gradual increases may be paused or reversed subject to evolving market conditions. This flexibility will allow the group to continue to support oil market stability. The eight OPEC+ countries also noted that this measure will provide an opportunity for the participating countries to accelerate their compensation.
The eight countries reiterated their collective commitment to achieve full conformity with the Declaration of Cooperation, including the additional voluntary production adjustments that were agreed to be monitored by the JMMC during its 53rd meeting held on April 3, 2024. They also confirmed their intention to fully compensate for any overproduced volume since January 2024.
The eight OPEC+ countries will hold monthly meetings to review market conditions, conformity, and compensation. The eight countries will meet on June 1, 2025, to decide on July production levels.