Sudan's inflation rate rises to 46.5 percent

0 Comment(s)Print E-mail Xinhua, December 9, 2012
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Sudan's Central Bureau of Statistics announced Sunday that the country's inflation rate in November rose more than one percentage point to reach 46.5 percent.

"The inflation rate in Sudan reached 46.5 percent in November compared to 45.3 percent in October," the report released by the bureau said.

It added that compared to October, the prices of food and nonalcoholic drinks, the biggest component in the Sudanese inflation indicator, have decreased.

Recent statistics from the central bank showed that Sudan's annual inflation rate rose nearly four percentage points in October due to a big jump in the food prices.

The Sudanese National Assembly (parliament) has started deliberating on the country's budget for 2013, which was submitted by the ministry of finance.

According to the finance ministry, the general budget for the fiscal year of 2013 would amount to between 20 billion and 30 billion Sudanese pounds (3.1 billion and 4.6 billion U.S. dollars).

The new budget focuses on increasing the revenues and reducing the government and general expenditure.

The ministry expected that the oil production would jump from 115,000 barrels per day to 150,000 barrels during 2013, which would help compensate oil output originally from South Sudan.

Sudan is working to increase its gold production to compensate the loss of South Sudan's oil. Sudan's gold exports amounted to between 47 and 48 tons in November and is expected to exceed 50 tons to yield more than 1 billion dollars.

Sudan has been facing an economic crisis after losing 75 percent of its oil revenues following the independence of South Sudan in July 2011.

Before the separation, Sudan was producing around 500,000 barrels of oil per day. Endi

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