(Bloomberg) -- Sudan will increase spending 39 percent and plans to boost exports by a third in 2019, as the North African country battles an economic crisis that has inflation at a two-decade high.
Addressing reporters, Prime Minister Mutaz Musa ruled out tax increases or removing subsidies on items such as wheat, medicines and cooking gas, while acknowledging the government's difficulty in funding them.
The 2019 budget presented Wednesday to parliament in Omdurman, the twin city of the capital, Khartoum, also targets:
- Increasing economic growth to 5.1% from its estimate of 4% in 2018
- Raising spending to 162.8 billion Sudanese pounds (about $3.4 billion)
- Reducing inflation to 27% from current 69%
- Cutting budget deficit to 3.3% from 3.7%
Click here to read more about Sudan's recent economic troubles
To contact the reporter on this story: Mohammed Alamin in Khartoum at malamin1@bloomberg.net
To contact the editors responsible for this story: Paul Richardson at pmrichardson@bloomberg.net, Michael Gunn, Hari Govind
©2018 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
