Setting well studied and organized policies and plans for developmental projects all over Sudan is at the top list priorities for the upcoming government. We mentioned this many times; economic reform is the key for development .Agriculture and Industry sectors are expected to play a major role in solving the economic issues.
Many challenges will face the transitional government during its two three years as the two factions of negotiations the Transitional Military Council TMC and the Forces of Freedom and Change FFC agreed to be formed. These challenges represent in the high rate of unemployment particularly among the huge number of graduates, rapid increase of poverty in all parts of Sudan, beside the crazy increase of the inflation rate which was recorded as 45.40% in March 2019. Its average is 32, 39% from 1971 up to 2019.
Inflation is basically a rise in prices. In other words, it is the situation of sustained increase in the general price level of living as the price of goods, commodities and services rise. In addition to that lack of cash in the different banks, lack of fuel at oil services.
Sudan is still suffering from the continuous increase of Inflation rate; this is simultaneously with the unreasonable and unbelievable increase of prices. Inflation indicates a decrease in the purchasing power of the national currency.
This was due to the mismanagement of economy during the 30 years of the former regime of al Bashir. The governmental resumption .Looking deeply at the Sudanese economy during the former regime, there are lots of economic issues left behind represent a heavy duty to the upcoming government, the ministry of finance, the banking system, the financial bodies. Corruption is one the chronic issues, to curb it is one of the most difficult and complicated solutions.
Despite the rich resources represented into agriculture, livestock, more than 40 minerals as the top of them are Gold, but Sudan is suffering from high rate of poverty, unemployment.
Economic experts and observers due these economic issues to many reasons including corruption, the governmental resumption, mismanagement. There are many ways or means to control l inflation as economic experts see it including through wage and price control which can cause a recession and cause job losses.
To feed or support the banking system with these billions of pounds as national currency or the millions of dollars as hard currency; is not an ultimate solution to reform the economy or to reduce this terrible rate of inflation. But they may assist in realizing some sort of stability to provide cash to move forward and to come out from the bottle neck.
We hope that the upcoming government benefit from the lessons of the former government. It is important to put into consideration the living of the people. To make balance in prices .
Latest posts by Neimat Al-Naiem (see all)
- Spotlight: Sudan Agreement; Significances of the Celebrations - August 18, 2019
- Spotlight: TMC, FFC Agreement, Congratulations to all Sudanese People - August 4, 2019
- Spotlight: Veteran Journalist, Alfred Taban, Rest in Peace - July 4, 2019