Current Date:

Sunday, 25 February 2018

Parliament Appeals Khartoum Stock Market to Contribute to Rate Exchange Stability

Khartoum-The chairman of the Economic Committee of the Parliament the former Minister of Finance and National Economy

Ali Mahmoud Mohamed has appealed to good investment environment and called for establishing public companies and business institutes.
Also he urged Khartoum stock ma4rkets to play a role in stabilizing rate exchange, this came while he was addressing the workshop organized by the committee of Finance and Economic affairs of the Parliament.
The event is under the memo “rate exchange flexibility and liberty” Mahmoud demand for new incentive policies to remittances, he added that the increasing of the indicative rate can attract investors and expatriates to transact.
While the former governor of the Central Bank of Sudan CBOS Sabir Mohamed Al Hassan state that CBOS has authorized to fix the indicative price, he warned that rate exchange instability affect the value of the national currency and also has negative impact on the external and internal trade balance alongside the government budget.
Sabir attributed the economic crisis to the secession of the South Sudan and the exit of 80% of the oil revenue, he continued to say the US economic sanction has harmed the business activity in the State as well as government expenditure.
The taxes collection represents only 7% the matter that deserves comprehensive reformation policies like austerity measures and good application to 2018 budget.