A Financial Expert Warns of Economic Collapse
Sudan Events_Nahed Oshi
An economic and financial expert predicted that the value of the Sudanese pound would continue to deteriorate, reaching 2 thousand pounds against a US dollar during the next three months. The economic and financial expert, Dr., described.
Dr. Alallah Abdelrazig Alallah described the terrible and catastrophic deterioration in the value of the currency and said that it is an indicator that the Sudanese economy has entered the stage of economic collapse, the features of which are beginning to appear.
He pointed out in a statement to (Sudan Events) the decline in the value of the pound due to the war conditions that have erupted in Sudan since the fifteenth of April last year, which led to a deterioration in the real production sectors, especially the industrial ones. In addition to the disruption of many agricultural sector projects, which prompted the lack of local production to be compensated with imports. For necessary and basic goods, and thus led to an increase in demand for foreign currency to meet import needs.
He called on the Central Bank of Sudan to intervene and take a package of measures to address the deterioration and control the size of the monetary supply.
Noting that the war will lead to a further deterioration in the performance of macroeconomic indicators with more government spending. In light of the decline in revenues, which leads to higher inflation rates, which leads to further deterioration in the value of the national currency.
