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Cabinet approves the economic reforms plan of the Ministry of Finance
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Jan 5, 2011 - 7:16:21 AM

Cabinet approves the economic reforms plan of the Ministry of Finance


Khartoum, Jan. 4 (SUNA) - The Council of Ministers in the extra meeting, chaired by the President of the Republic Field Marshal Omar al-Bashir, Tuesday evening, approved the plan of the Ministry of Finance for the economic reforms and to remove some of the defects in the structures of the national economy


Minister of Finance and National Economy Mr. Ali Mahmoud, said in press statements following the meeting that the Council of Ministers approved the austerity measures on the reduction of government spending presented by his ministry so that the government expenses should not exceed the revenues, and he called for the necessity to support the production for import substitution to support the payments balance, indicating that the deficit that occurs in the general budget of the state is due to the inflation of exchange and over-expenditure


He explained that his ministry aimed to support the production sectors considering that the imbalance in the total supply and demand leads to the gap in some goods the matter that force the state to resort to import, adding that, "we also have a defect in the external balance because our imports exceed the exports which causes pressure on the balances of the State's foreign exchange and the reserves of the Central Bank, ", he explained that his ministry has taken action to streamline import and to direct foreign exchange resources for import of essential goods for the benefit of the citizens and to support the inputs of the agricultural and industrial production


The Minister of Finance and National Economy has made promises to the workers of the state, the retired and the poor that the adoption of the subsidies by his ministry is targeting the low income groups with regard to free treatment , the expansion of health insurance and the support for students and poor families


He explained that the procedures adopted by the Ministry of Finance and approved by the Council of Ministers will bring balance to the national economy as well as the support for commodity production or the so-called real sector







































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