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News and Press ReleasesSudan says new investments worth ($ 2.7) billion in the country

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Sudan says new investments worth ($ 2.7) billion in the country

12-28-2014, 03:38 PM
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Sudan says new investments worth ($ 2.7) billion in the country

    December 28, 2014-Khartoum-SudaneseOnline-Sudan’s Finance Ministry revealed that new foreign investment entered the country during the period of 2012-2014, which its average total value reached (2.7) billion dollars, including direct investments worth (1.5) billion dollar.
    The report on the budget for the year 2015, presented by Minister of Finance and National Economy, Badr al-Din Mahmoud before the Parliament for ratification on Saturday, disclosed that the investment flows focused on the service sector, followed by the industrial sector
    Reports issued by the World Bank emphasized that the volume of direct investment flows in 2010 reached $ (2063730998) and in 2013 reached $ (2179116544.)
    International Monetary Fund (IMF) said this month that Sudan has achieved satisfactory progress in achieving goals set by the Staff-Monitored Program (SMP).
    SMP is an informal agreement between a country’s authorities and the IMF to monitor the implementation of the authorities’ economic program. SMPs do not entail financial assistance or endorsement by the IMF executive board.
    “Despite the major challenges facing Sudan, performance under the SMP, which expires at end-2014, has been satisfactory,” the IMF said in a statement attributed to its management following the completion of the second SMP review
    The IMF said that it expects non-oil growth to hit 2.9% this year as a result of strong gold extraction and a rebound in agriculture due to favorable weather.
    “Inflation is expected to drop to 29 per cent by year-end from 47 per cent in July as the one-off effects of the September 2013 fuel price increases dissipate, monetary policy is tightened, and food prices decline owing to the expected good harvest. The fiscal deficit is expected to narrow to about 1.0 per cent of GDP,” it added
                  

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