Sudanese Prime Minister Moataz Moussa on Wednesday announced an economic austerity policy for 15 months, starting from October 2018 until the end of December 2019, in light of the continuing economic crisis.
The measures are aimed at "curbing inflation" which approached in September of 70 percent, according to a report by the government statistics authority.
"The program aims at achieving economic stability by reducing the average inflation rate, stabilizing the exchange rate and achieving real growth in GDP," Moussa told parliamentarians.
The prime minister stressed that inflation continued to rise during the past five years, the value of the national currency deteriorated and the imbalances in the economy intensified.
Sudan lost oil revenues after South Sudan gained independence in 2011, taking 75 percent of its oil revenues, which had a production of 470,000 bpd.
The central bank cut the value of the Sudanese pound three times during the current year, to reach the value of one dollar 47.5 pounds, according to the official exchange rate.
This caused food prices to more than double, and in January demonstrations in the capital, Khartoum, took place, but security authorities seized control.
He pointed out that the austerity measures will include the suspension of activities organized by the government, reducing the travel of government delegations abroad, and the cancellation of all activities carried out at the expense of the state, such as celebrations, festivals and conferences.
In October 2017, the United States lifted economic sanctions imposed on Khartoum for two decades.
The measure was expected to have a positive impact, but officials and businessmen confirmed that international banks still have reservations about dealing with Sudanese banks, as Sudan is listed as a "state sponsor of terrorism."
