(Bloomberg) -- The transitional government in Sudan is planning a set of economic and political reforms, including removing fuel subsidies gradually in 2020, Reuters reported, citing Finance Minster Ibrahim Elbadawi.
The subsidies for wheat and cooking gas would be retained to help the poor, he told reporters on Friday, Reuters said. Subsidies are a major burden on the government's finances, which have been cut by a two-third reduction in oil production because of the secession of South Sudan in 2011.
To read more about the crisis in Sudan, click here
The government will also double public-sector salaries and increase the minimum wage by more than 100% to 1,000 Sudanese pounds ($22) to ease the impact of surging inflation, Reuters cited the finance minister as saying. He didn't provide details on funding for the budget in the report.
Inflation in Sudan accelerated to 60.7% in November from 57.7% in October because of rising food prices in both urban and rural areas, Sudan's Central Bureau of Statistics said in statement earlier this month. In August, a so-called sovereign council made up of civilian and army figures assumed presidential-type duties for three years until elections are held.
To contact the reporter on this story: Saket Sundria in Singapore at ssundria@bloomberg.net
To contact the editors responsible for this story: Serene Cheong at scheong20@bloomberg.net, Stanley James
©2019 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
