EU to provide technical support for Sudan’s economy
May 30, 2018 (KHARTOUM) – Head of Delegation of the European Union to Sudan Jean-Michel Dumond has expressed readiness to provide technical assistance for the Sudanese economic sector.
Faisal briefed Dumond on the latest political and economic developments in Sudan, pointing out that his government is capable of overcoming the economic crisis as it did in the past.
He said Sudan had previously managed to overcome the economic challenges which resulted from the U.S. sanctions and the secession of South Sudan.
The Sudanese minister called on the EU to encourage the European companies to invest in his country, stressing Sudan’s cooperation in the human rights field.
For his part, Dumond said the EU is willing to provide technical support to Sudan in areas of financial reform and expansion of tax umbrella.
He also praised Sudan’s role within the regional bloc IGAD to support the peace process in South Sudan.
Since January, the economic conditions have deteriorated significantly as prices reached high levels and the Sudanese pounds hit historic low against the US dollar leading to an unprecedented rise in the cost of living.
Also, the East African nation has suffered a severe shortage of gasoline and cooking gas.
Opposition forces attribute the deteriorating living condition and economic meltdown to corruption, lack of production policies, and lack of economic reform vision following the secession of South Sudan.
Sudan lost 75% of its oil reserves after the southern part of the country became an independent nation in July 2011, denying the north billions of dollars in revenues. Oil revenue constituted more than half of Sudan’s revenue and 90% of its exports.
(ST)