An Economist Demands Cancellation of 2019 Budget

The renowned economist Suleiman Hamid has requested the minister of finance to cancel working on 2019 budget. Because he said it was estimated on unrealistic figures.

He told SUNA that the emergency economic program was good and positive in general terms.

However, he said the program required more clarity about the means adopted to remedy the economic issues.

He noted that the restructuring of the budget was a required action.

But as for the 2019 budget it had to be cancelled completely as it was estimated on taxation, borrowing from banking system and printing of currency and it put all burden on the public.

Although he said the minimum wages was SDG750 per month which was only enough for purchasing two kilograms of beef meat.

The total budget estimated for SDG67.8 billion and that 80% out of which allocated for defense and security spending and to those holding the constitutional posts.

Adding to this he said the deficit of the budget represented 25 percent and only 15 percent out of which had been allocated for the development. This he said would make the country depending on imports at expense of production process.

source: Aencies