Sudan passes 2020 budget with anticipated deficit of USD1.62 billionSudan has passed its 2020 budget that includes an overall deficit of about 73 billion Sudanese pounds (USD1.62 billion), Finance Minister Ibrahim Elbadawi said on Sunday.The country’s ruling sovereign council and Cabinet agreed the budget - the country’s first since the toppling of longtime ruler Omar al-Bashir, whose final years in power were marked by deep economic woes. The budget has expected revenues of 568.3 billion Sudanese pounds (USD12.63 billion) and also includes increased spending for healthcare and education. “This is a budget of peace, it bodes for peace,” Elbadawi said. That designation has left Sudan unable to tap the International Monetary Fund and World Bank for support. Inflation soared in recent years, driven by rising food and beverage prices and compounded by a black market for US dollars.

Source: Standard Digital December 30, 2019 11:03 UTC