Sudan Increases Flour Subsidies To Lower Bread Prices

The Sudanese government has increased flour subsidies by 40 percent, after the reduction of subsidies earlier this year caused a hike in bread prices, sparking protests.


In a statement released on Saturday, the finance ministry said the government would spend about $736,000 daily instead of $526,000.

The decision to reduce bread subsidies this year sparked rare nationwide protests after bread prices doubled.

Inflation climbed to a record 66 percent in August, one of the highest rates globally.

Sudan’s economy has been struggling since the south seceded in 2011, taking with it three quarters of oil output and depriving Khartoum of a crucial source of foreign currency.

Sudan sharply devalued its currency in October after a group of banks and money changers was tasked with setting the country’s exchange rate under a new system established by the government to tackle an acute shortage of foreign exchange.


Written by PH

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