The government of Sudan has, at the eleventh hour, decided to postpone earlier plans to remove subsidies on oil products and a range of other basic commodities, amid rumors of a split within the ruling National Congress Party (NCP) over implementation of the controversial policy.
Sudan’s economy is still reeling from the significant drop in state revenues associated with the loss of around 75% of its former 450,000 b/d crude oil production when South Sudan seceded in July 2011 (MEES, 11 July). Oil income was – and still is, in theory – Khartoum’s main source of foreign exchange, which it uses to pay for imports from abroad. (CONTINUED - 633 WORDS)
