Sudan’s bread prices double after government cuts wheat subsidies

0
260
FILE PHOTO: A baker prepares bread in Khartoum December 31, 2010. REUTERS/Mohamed Nureldin Abdallah

KHARTOUM (Reuters) – Bread prices in Sudan have doubled, the country’s Bakeries Union said on Friday, a few days after the government eliminated subsidies under its 2018 budget.

The price of one loaf of bread rose from 0.5 Sudanese pounds to 1 pound, the union said, after the prices of wheat flour rose.

The country’s biggest opposition party called for peaceful protests against the new budget, and crowds gathered outside bakeries in Khartoum, expressing frustration against the government’s move.

“The new prices will make us starve to death,” Fatima Ahmed, a housewife said while buying bread. “The government doesn’t care about us. Our conditions are harsh … We won’t be able to endure more.”

Sudan’s government has begun a series of economic reforms in line with International Monetary Fund recommendations aimed at putting the country’s ailing economy back on track.

State Minister for Finance Magdi Hassan Yaseen told Reuters late last month that the competition between companies importing wheat would prevent such an increase in the prices.

The government would buy locally produced wheat at “encouraging prices”, he said.

The country devalued its currency, the pound, to 18 per U.S. dollar, more than double its previous peg of 6.7 pounds to the dollar.

Reporting by Khaled Abdelaziz, writing by Dahlia Nehme, editing by Larry King

SHARE
Previous articleUganda private-sector activity slows on uptick in input costs
Next articleSouth Africa’s net foreign reserves rise to $42.9 bln in December
Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.