Economics
Sudan Taps Gulf Allies as Donor Cuts Worsen Economic Outlook
- Hundreds of millions of dollars in budget aid lost after coup
- Government considers higher taxes, reduced subsidies: minister
People shop at the "Local Market" for vegetable produce in Khartoum.
Photographer: Ebrahim Hamid/AFP/Getty Images
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Sudan has asked its Persian Gulf allies for financial support as it weighs tax increases and subsidy cuts to shore up the economy after foreign donors severed funding following this year’s coup.
The oil-producing country scrapped its growth targets for next year and is preparing for a sustained period of limited external support, Finance Minister Gibril Ibrahim said in an interview on Friday. The state had forecast earlier this year the economy would expand 3% in 2022.