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3019821
Asharq Al-Awsat
"Business"
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Thu, 10 Jun 2021 11:15:11 +0000
https://english.aawsat.com/home/article/3019821/sudan-will-not-lift-wheat-furnace-oil-cooking-gas-subsidies-year
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Sudan Will Not Lift Wheat, Furnace Oil, Cooking Gas Subsidies this Year
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Sudan Will Not Lift Wheat, Furnace Oil, Cooking Gas Subsidies this Year

Thursday, 10 June, 2021 - 10:15
Motorists queue up at a petrol station in the Sudanese capital Khartoum on January 21, 2014. (AFP)
Asharq Al-Awsat

Sudan will not lift subsidies this year on wheat, cooking gas or furnace oil, which is used to produce electricity, finance minister Jibril Ibrahim said on Wednesday, a day after subsidies on gasoline and diesel were fully lifted.


Ibrahim said the government is committed to removing the so-called customs exchange rate, used to determine import duties on a range of goods, but is studying tariff levels to ensure that consumer prices are not affected.


Sudan is implementing a raft of IMF-monitored reforms, including a currency devaluation, in hopes of alleviating a protracted economic crisis and attracting foreign financing.


Ibrahim also said he was studying wide-ranging reforms for the banking system.


Sudan produced 400,000 tons of wheat in the past season which was disappointing, Jibril said. This accounted for a quarter of the country's needs of 1.6 million tons.


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