Cabinet Reviews Amended Budget of Fiscal Year 2020

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Cabinet Reviews Amended Budget of Fiscal Year 2020

 The Council of Ministers held its regular meeting today, chaired by Prime Minister, Dr. Abdullah Hamdouk, during which the council reviewed the amended budget of the fiscal year 2020, presented by Dr. Heba Mohamed Ali, the Acting Minister of Finance and Economic Planning.

The finance minister noted that the reason for the amendment of the budget is the need to adopt policies that mitigate the negative impact of the Corona pandemic on the economic situation that has decreased the revenues by 40%.

She pointed to the deficit that has become very large a matter that necessitated reviewing of the budget and the taking of emergency measures, including the gradual adjustment of exchange rates and the customs dollar for two years to reach the real price.

The Minister noted to the work of the portfolio established by the Supreme Committee for Economic Emergency, by which the fuel price will be rationalized by allowing the private sector to import unlimited quantities of benzene and gasoline in order to control scarcity.

The Minister indicated difficulty of these measures, which is expected to help in a gradual economic growth within three years so that the economy achieves a gradual growth with eight points that would bring it out of the current negative growth index, and would help in the medium and long term to control the inflation that has reached high numbers starting from the fiscal year 2021.

The amended budget has emphasized continuing the support of wheat, medicine and the cooking gas, pointing to the expectations of the provision of $ 1.8 billion by the international donors as an outcome of the Sudan’s Partners Conference, while the amount allocated for the family support program totaled $ 484.7 million.