Current Date:

Friday, 22 December 2017

The Cabinet Approves 2018 Budget

Khartoum-The cabinet has approved 2018 budget presented by the minister of Finance and national Economy Dr. Mohamed Osman Suleiman Al-Rikabi

, who presented the General yesterday in order to be tabled before the Parliament soon.
The volume of the budget totaled to SDG 173, 1 Billion while the budget deficit estimated to SDG 28, 4 Billion. The budget has affirmed the policy of gradual prices liberation to strategic commodities.
Also the new budget acknowledged the prevention of government purchasing cars and furniture alongside construction of buildings to reduce expending.
The budget minimized conferences and delegations traveling, the total amount of the expenditure is SDG 127, 2 Billion which represents 74% of the whole budget.
2018 budget revenue reached to SDG 116, 9 Billion compared to 2017 which totaled to SDG 77, 710 Billion.
In term of production the budget aimed at increasing oil production to 102 barrels per a day and gold from 85 tons to 110 tons. The 2018 budget planned to increase exports from US$ 3, 9 Billion to US$ 6, 1 Billion, while the imports reduced to US$ 7, 4 Billion instead of US$ 8, 3 Billion in 2017.
The balance of payments deficit from US$ 2, 4 Billion to US$ 0,3 Billion.
The 2018 budget  objectives focus on funding agriculture and combating povery.