Sudan's inflation rate reaches 60.9 pct in May

Source: Xinhua| 2018-06-15 02:23:18|Editor: huaxia
Video PlayerClose

KHARTOUM, June 14 (Xinhua) -- The inflation rate in Sudan continued rising to 60.9 percent in May, compared with 57.7 percent in April, said a statement by Sudan's Central Statistics Bureau Thursday.

The bureau attributed the rise to the hike in the prices of food and drinks during the holy month of Ramadan.

Sudan faced a dire economic crisis since the secession of South Sudan in 2011, due to which Sudan lost 75 percent of its oil revenues.

On Dec. 19 last year, the Sudanese Cabinet had approved the budget for 2018, which contained new measures for cutting government spending, stopping construction of government buildings, and barring payment of any incentives or rewards without a prior approval from the Ministry of Finance.

The budget aims to stimulate the country's GDP growth by 4 percent and bring inflation down to 19.5 percent. Enditem