Minister of Finance: We Have Not Received a Single Dollar Since the Start of the War

AlMohagig – Port Sudan

Minister of Finance and Economic Planning, Dr Gabriel Ibrahim, acknowledged the depreciation of the national currency against foreign currencies, rising from 570 pounds in March 2023 to more than 1200 pounds within one year. Ibrahim justified the increase in the exchange rates of the Sudanese pound due to the lack of external resources amid increasing expenditure on the war effort in foreign currencies.

He said, “Not a single entity has provided us with a dollar since the start of the war until now.” Ibrahim pointed out that the high demand for foreign currencies compared to limited supply has led to the depreciation of the Sudanese pound, noting their efforts to control the exchange rate.

Ibrahim highlighted the suffering of the Sudanese people due to the rise in prices of goods and the scarcity of resources because of the war. He revealed the challenges facing this year’s budget, including revenue decline and lack of accurate estimates due to most information being in Khartoum’s capital.

Ibrahim confirmed that state revenues have decreased by more than 80%, focusing on the capital in terms of factories and companies, explaining that the halt of work in the capital has led to a decrease in revenues.

He clarified that his ministry has worked on prioritising the state’s needs, including the war effort, arranging the situation of displaced persons, and the health situation.

He warned that the war has created difficult health conditions, stating that the state has lost its medicine stockpile by more than $500 million.