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Sudan expects 2023 budget deficit at $1.47bn

Garden, Nature, Outdoors REUTERS/Zohra Bensemra
The budget is focused mainly on social welfare programs

The Sudanese cabinet on Monday approved the 2023 budget which expected a total deficit of 1.4 percent of gross domestic product (GDP), ahead of final approval in a joint meeting with the Sovereign Council.

The minister of finance and economic planning, Jibril Ibrahim, said that total expected public revenues in the budget amounted to 7.363 trillion Sudanese pounds ($13.03 billion), while total public spending is expected at 8.196 trillion ($14.50 billion).

The budget is focused mainly on social welfare programs, improving the standard of living, supporting education and health, and providing drinking water, according to the minister.  

Earlier this month the Central Bureau of Statistics said that annual inflation rate fell slightly to 87.32 percent in December 2022 from 88.83% in November 2022.

In December 2022, Sudan signed a preliminary agreement with a group led by the UAE’s AD Ports Group and Invictus Investment to build and operate the Abu Amama port and economic zone on the Red Sea with a $6-billion investment.