Economic Vision: Sudan Treasury System

The Ministry of Finance and the Central Bank of Sudan CBOS, represent the focal point of Sudan economic system and policies. The two bodies responsible for planning and setting both, financial and monetary policies that contribute to stable rate exchange of foreign currencies before the national currency, alongside setting proposals of the public budgets, to generate revenues and to organize expenditure activities.
The treasury system, and the financial process in Sudan has affected the economic operation, the Ministry of Finance has no full authority to run the public fund activities. There are many financial institutes lined to the Ministry of Finance, they exercise the same job of the Ministry of Finance, also they generate revenue, and expend it, without orders from the Minister of Finance.
The Zakat Chamber, the customs authority and the taxes Chamber, were considered as the richest financial bodies in Sudan, but these institutes are working lonely, they isolate themselves from the Ministry of Finance. The revenues that come from the three mentioned bodies didn’t go to the public treasury of the country, the public budget doesn’t include revenue figures of the three main financial bodies, so all the financial authorities in the country should be subjected to the minister of Finance.
The financial organizational structure in Sudan, shows more than one Ministry of Finance, this unique and strange system has paralyzed the economic image of Sudan, the one financial window is required, to restore the power of economy, billions of SDGs were allocated out of the public budget, such situation hinders the development projects and created imbalance in wealth distribution among different states, also it encourages corruptions.
The unification of financial bodies will change the fact and enables economists to draw good policies, the idea of one revenue gate and one expenditure window can put things on the right track, and lead to new rules and regulations to build strong economic bodies and to propose fair policies.

Mohamed Abdalla

Economic Vision
Email: moabd31@yahoo.com
Mohamed Abdalla

Latest posts by Mohamed Abdalla (see all)

Mohamed Abdalla

Mohamed Abdalla

Economic Vision Email: moabd31@yahoo.com

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