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.



Israel's Leviathan Gas Field to Resume Operations

FILE PHOTO: An Israeli military ship sails next to the production platform of Leviathan natural gas field in the Mediterranean Sea, off the coast of Haifa, northern Israel December 1, 2020. REUTERS/Ilan Rosenberg/File Photo
FILE PHOTO: An Israeli military ship sails next to the production platform of Leviathan natural gas field in the Mediterranean Sea, off the coast of Haifa, northern Israel December 1, 2020. REUTERS/Ilan Rosenberg/File Photo
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Israel's Leviathan Gas Field to Resume Operations

FILE PHOTO: An Israeli military ship sails next to the production platform of Leviathan natural gas field in the Mediterranean Sea, off the coast of Haifa, northern Israel December 1, 2020. REUTERS/Ilan Rosenberg/File Photo
FILE PHOTO: An Israeli military ship sails next to the production platform of Leviathan natural gas field in the Mediterranean Sea, off the coast of Haifa, northern Israel December 1, 2020. REUTERS/Ilan Rosenberg/File Photo

Israel's NewMed said on Wednesday the Leviathan natural gas field that supplies gas to Egypt and Jordan, shut down nearly two weeks ago due to the Iran-Israel conflict, would resume operations in the next few hours.

Two of Israel's three gas fields - Chevron-operated Leviathan and Energean's Karish - off its Mediterranean coast that provide the bulk of exports to Egypt and Jordan have been shut since June 13.

That left in operation only the older Tamar field, used mainly for domestic supplies.

Israel and Iran agreed to a ceasefire on Tuesday. Israel's Energy Ministry said that after a security assessment, Energy Minister Eli Cohen had ordered the opening of Leviathan and Karish, Reuters reported.

The ministry said resuming regular operations at the rigs will "enable the supply of natural gas to all customers", the resumption of gas exports to neighboring countries, a rise in state tax revenues, and greater flexibility in managing the electricity and industrial sectors.

Leviathan, a deep-sea field with huge deposits, came online at the end of 2019 and produces 12 billion cubic meters of gas per year for sale to Israel, Egypt and Jordan. That will rise to some 14 bcm in 2026.

In addition to Chevron and NewMed, Ratio Energies is also a partner in Leviathan.