Sudan Rescheduled its Debt to SFD and KFAED For 40 Years

SMC-

Sudan rescheduled its debt  to the Saudi Fund for Development (SFD) and  the Kuwait Fund for Arab Economic Development (KFAED) for 40 years, said Sudan’s Prim Minister and Minister of Finance and Economic Planning Muataz Musa.

The Minister  has announced on the contribution of Arab funds in the 2019 budget.

Speaking at “The Sudanese Economy: The Policies Challenge and the Reform Benefits ” forum organized by the Elaf newspaper and the Center for Development and Public Policy, Musa reviewed the reality of the Sudanese economy and the reform requirements in the coming years.

Musa discussed the Sustainability of growth requirements, revealing that the average growth is 1%, while the global average is between 3% and 4%, and that Sudan has achieved a growth rate of 4% to 5%.

He stressed the need to pay attention to exports of high-value-added goods and attracting investments that have macroeconomic benefits.

He  review the current conditions to not waste the natural resources by export it, and the need to consider the components of the economy in terms of the country’s resources, geographical location and the movement of markets.

He stressed his interest of the private sector, noting the role of banks in obtaining savings and the ability to generate profits for customers, added that the process of reform continues according to a scientific vision to reach the desired results, stressing that there is no protection of government companies and no discrimination to anyone.

Musa stressed his fight against illegal tax collection and smuggling.

He said that he will fight poverty with wise , stressing that inflation and the exchange rate lead to the impoverishment of a large number of people, and there no program controls the process of preserving the currency from Deterioration and inflation reduction.