September 30, 2015 (KHARTOUM) – The Sudanese cabinet is set to discuss the proposed 2016 budget on Thursday morning that will be presented by finance Minister Badr al-Din Mahmoud that has among its main goals addressing inflation, poverty and unemployment.
The 2016 budget also seeks to absorb challenges created by global economic turmoils and take advantage of foreign concessional financing opportunities.
Maintaining economic stability, achieving a sustainable growth, reducing budget deficit and trade deficit by increasing exports and resorting to import substitution, are among the objectives for next year’s budget.
Sudan’s official news agency (SUNA) also reported that the government wants to enforce financial disclosure rules and work on financing development projects and computerization of financial and accounting operations.
The budget will also further objectives of the five-year program in its second year by granting priority to productive sectors such as agriculture, livestock, industry and tourism.
Last summer the International Monetary Fund (IMF) said that Sudan has made “remarkable progress” towards restoring macroeconomic stability and strengthening economic growth following the shock of South Sudan’s secession in 2011.
“In particular, fiscal consolidation and tight monetary policy helped reduce inflation below 20 percent in May 2015, narrow the external deficit, and support growth at about 3.7 percent in 2014,” a visiting IMF delegation said at the time.