Gold Exports to Fill Sudan’s Budget Gap

Sudan Events – Nahed Oshi

Member of the Gold Exporters Division, Abdel Moneim Al-Siddiq, praised the Ministry of Finance and Economic Planning’s cancellation of the decision by the Sudanese Mineral Resources Company that imposed 400 pounds per gram of gold upon exportation.
He said that it was one of the obstacles that limit gold exports and encourage in smuggling, therefore producers have called on the Ministries of Minerals and Finance to cancel the fees. This decision is in the interest of gold exports, and will reduce loss caused by smuggling to neighboring countries.
Al-Siddiq added during in a statement to Sudan Events that there are many decisions that must be taken by those in charge of the Ministry of Finance and the Bank of Sudan to maximize gold exports so that Sudan could benefit from all its bounties and flow into the balance of payments and help bridge the country budget gap.
“Sudan suffers from shortage in hard currency in order to provide production inputs and basic goods to the helpless citizens “, he added.

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