Sudan Ends Subsidies For Gasoline And Diesel

Jun 9, 2021 · 1m 5s
Sudan Ends Subsidies For Gasoline And Diesel
Description

A statement from the finance ministry says Sudan fully liberalized gasoline and diesel prices on Tuesday and previous prices would be cancelled and gave new prices that it said were...

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A statement from the finance ministry says Sudan fully liberalized gasoline and diesel prices on Tuesday and previous prices would be cancelled and gave new prices that it said were in line with import costs.
Sudan has been implementing aggressive IMF-monitored reforms in the hopes of turning around its economy and attracting debt relief and renewed financing.
The reforms have been painful and annual inflation climbed to 363% in April. Sudanese officials and the IMF have said the reforms, which included a sharp currency devaluation, would cause prices to rise and add to pressure on citizens.
The finance ministry says the price of gasoline will rise from 150 Sudanese pounds per litre to 290 pounds, while the price of diesel will rise to 285 pounds per litre from 125 pounds.
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Author Africa Business Radio
Organization Africa Business Radio
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