Dr. Haitham Fathi Warns of a Total Collapse of the Sudanese Economy

Sudan Events – Rehab Abdullah

Economic expert Dr. Haitham Fathi warned of a total collapse of the economy, which in turn leads to a deterioration in the living conditions of internally displaced citizens.
He stated in his interview to (Sudan Events ) that the Sudanese economy is facing a clear status of instability, perhaps the most prominent of which is the rapid and significant rise in the exchange rate of foreign currency, and the accompanying decline in purchasing power that burdens those with limited income in particular, with high inflation rates accompanied by signs of stagnation in some sectors and activities as an indicator of the complex phenomenon of inflationary stagnation.
Fathi affirmed that the current phase requires precise measures, some of which are immediate and some of which are strategic, some of which are local in scope and some of which are external.
However, he acknowledged that the government does not have adequate margins of action in this regard, acknowledging that the state has fulfilled its economic responsibilities in various sectors, and added, “These responsibilities may not be secured to the maximum extent, but they remain secured with the available capabilities.”
However, Fathi pointed out that the facts of reality require taking decisions and measures that serve the interests of the country and the citizen, given that the economy is not managed by emotions and desires, but rather is managed on the basis of rationality, objectivity and realism.
He added that the government must open up politically at home and abroad and take a path that satisfies the citizen, particularly with the deterioration in food security, which is due to the country’s heavy reliance on food imports, after it had enjoyed near-self-sufficiency in producing a lot of food in the past.
He affirmed that to face this difficult living reality, most Sudanese resort to relying on additional sources of income, the most important of which are remittances from expatriates outside Sudan, and changing eating habits by reducing spending on food to a minimum, to the point that it has become common for a large segment to be satisfied with one meal a day.
Fathi said that all data on the ground indicate that the economic crisis will continue for a long time, and he ruled out the existence of an economic way out of it until the field is opened for the return of capital and the start of reconstruction, revitalizing the economy, increasing exports, and the return of the flow of Sudanese and South Sudanese oil.