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FINANCIAL NEWS
Sudan’s exports down 83% on political conflict: Minister
08 May 2012
(MENAFN) The finance minister of Sudan, Ali Mahmoud, said that the country’s economy is suffering from the conflict with South Sudan, as it had Sudan’s exports sink by 83 percent, reported Reuters.
The minister said that the conflict had already led to a USD2.4 billion shortage in Khartoum’s public finances, which had led ministers in more than one occasion to give up their salaries and workers to lose parts of theirs in order to survive the gap caused by the conflict.
It is worth mentioning that the conflict with South Sudan led to the closure of operations in all oil production in the region. Khartoum’s oil exports account for ninety percent of the country’s total exports. Needless to say that the stoppage in oil production was a real hit to the country’s economy.
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