Sudan parliament reviewing 2010 budget
November 4, 2009 (KHARTOUM) – The Sudanese government sent to the national assembly its budget plan for the 2010 fiscal year aimed at achieving a 6% growth rate.
The proposed budget is projecting $10 billion in revenue and grants with $13.4 billion in expenditures but it is not clear how the $3 billion deficit will be funded though the government normally borrows from the banking sector.44% of the forecasted revenue will be generated through the oil exports, 47.3% from non-petroleum sector and 8.3% from grants.
The Sudanese finance and national economy minister Awad Al-Jaz said the focus of spending is on the five-year plan in terms of agriculture, eliminating poverty, peace sustaining projects and attracting strategic partnerships.
Al-Jaz also said that the new budget will target a 9% inflation rate and limiting borrowing from the banking sector to 0.9% from the total GDP.
The Sudanese official noted several major infrastructure project including ones that will increase generation of electricity, new railroads and grain production.
Sudan is currently under a monitoring program from the International Monetary Fund (IMF) per a request from Khartoum last July to help weather the global economic crisis.
The impact of the recession took a toll on the oil prices that dropped from their 2008 records leaving the government with barely enough money to pay salaries and wages.
The IMF recommended changing tax codes and reducing spending on social programs to reduce the deficit but it is unlikely that any such measures before the April 2010 presidential and parliamentary elections.
(ST)
johnmaker
Sudan parliament reviewing 2010 budget
What a miracle from incompetent finace minister.Good luck.
jalabi
Sudan parliament reviewing 2010 budget
What crazy people!!!!
You don’t know how the $3 billion deficit will be funded?? I will tell you, it is so easy, the $3 billion deficit will be funded from the south oil, all we need to do is to increase the amount of oil that we steal from south everyday, SPLM is deaf and disable movement and they will never find out even if they find out (western people will tell them) they will do nothing else than complaining, crying and making loud voice that’s all they can do.
We will not die from starvation if the south take their oil but in fact the south will die of starvation because at least we give them 50% now and they can barely survive and when they separate Dinka will immediately put all the 50% on their pockets and steal it completely, southerners will not be able to see it at all, I think Mr. Bill Gates is not going to be the first rich man anymore but a Dinka guy will soon emerge and take place.
We don’t need the oil south anymore after separation because we have Higlig oil that the international court gave it us plus our oil in south Kordofan, that’s more than enough.
Don’t make yourself busy of creating trouble to us after separation but concentrate on building your country and fight corruption (Dinka).
Jalabi (Abo Jalabia)