Financial expert: The costs of the war exceeded 100 billion dollars
Sudan Events – Nahed Oshi
The expert, financial and economic analyst, Dr. Ali Allah Abdul Razzaq Ali Allah, acknowledged that the economic and social sectors have been affected by the ongoing of the war, which is entering its eleventh month. Pointing out the significant impact on the 2024 budget, which was classified as an emergency budget.
He said in a statement to (Al-Ahdath) that the 2024 budget was set at a time when the Sudanese economy is exposed to influential shocks that have so far lasted for a period of eleven months.
He added that according to United Nations reports, that the performance of the economy declined by 42%, which led to an economic contraction of 18%, which is the largest percentage of decline in the history of the Sudanese economy.
Noting that the indicators of the 2024 budget, which is, as announced, a war/emergency budget, were shown after a comprehensive collapse of the economic structure has occurred. He confirmed that the costs of the war exceeded $100 billion, and economic activity stopped by 80%. In addition to a recession in the gross domestic product by 20%, and the national currency losing more than 100% of its value, as the exchange rate in the parallel market exceeded the barrier of 1,200 pounds to the dollar. Meanwhile, millions of Sudanese lost their jobs in the public and private sectors, in addition to a significant decline in the proportion of exports, as well as a significant decrease in government revenues by 80%, which exacerbated and increased the general budget deficit, confirming that the entire 2024 budget was allocated to finance military operations.
He said that according to the current situation, it is clearly clear that there is no place for the sectors of production and social services, such as education, health, and others to resume their activity. Moreover, the expert expected the worsening of living conditions of citizens to, and therefore the suffering is expected to increase, specially with the continuation of military operations, which will further complicate the economic and living conditions.
He added that in light of this situation, the government may abandon its responsibility towards citizens who have become unable to confront the crises of this accursed war.
