KHARTOUM, Sudan, The Central Bank of Sudan said on Tuesday, that, it intends to reduce the country’s inflation rate to 27.1 percent in 2019.
“The policies of the Central Bank of Sudan for 2019, intend to achieve monetary and financial stability to realise sustainable growth,” Mohamed Khair al-Zubair, governor of Sudan’s central bank, said in the capital, Khartoum.
The central bank hopes to “contribute to achieving a real growth rate in GDP estimated at about 5.1 percent,” he added.
According to al-Zubair, the central bank’s polices in 2019 include curbing inflation, stabilising the exchange rate, enhancing people’s trust in the banking system and increasing the resources of foreign currency, to achieve financial stability.
The inflation rate in Sudan jumped to a record 68.93 percent in Dec, 2018, from 25.15 percent in Dec, 2017.
The soaring inflation rates come, amid the hike in prices of consumer goods, and decline of the Sudanese pound.
Sudan has been undergoing a dire economic crisis, since the secession of South Sudan in 2011, which caused a loss of 75 percent of its oil revenues.
Source: Nam News Network