sudan
Senior Member
- Oct 17, 2012
- 266
- 11
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Sudan||s new budget that ||overcomes|| oil loss is a clear message to the South Sudanese government that Sudan is self sufficient and rich in other alternatives other than oil returns.
Following a cabinet meeting headed by president Omer Al Bashir that approved the 2013 draft budget, Finance Minister, Ali Mahmoud asserted that the government will no longer depend on oil returns in the new budget.
The Minister has denied any intention to impose new taxes or cut fuel subsidies next year.
Mahmoud said the budget contains no more tax increases but the government is trying to "extend the umbrella of taxation", which is in line with economists|| calls to broaden the tax base.
The budget however will not reflect last September||s oil deal with landlocked South Sudan by which Khartoum would receive a cut from every barrel of oil exported by Juba.
Sudan has relied on other resources including gold and Sudanese oil production will hit150,000 barrels per day (bpd) from 115,000 bringing $300 million in revenues.
The Minister||s announcement is a clear message to Juba that restart or the cessation of oil exports via Sudan is no matter to Sudan||s balance. It||s true that oil returns is important for the general budget.
Sudanese gold exports, example, reached between 47 and 48 tonnes by November and were expected to rise above 50 tonnes annually, bringing in more than $2 billion a year, he added.
According to reliable economic sources at Federal Ministry of Finance, the Sudanese government has instructed its negotiating delegation to Addis Ababa to make no compromise for oil because oil is no longer important for its budget.
Unlike Sudan, South Sudan||s economy depends mainly on oil returns that why the United Nations peacekeeping chief has warned that the delay of South Sudans oil exports will have negative economic and social impacts on the newborn state.
In a report on South South Sudan, Mr. Ladsous said given the dependency of South Sudan on oil revenues, further delay in generating them would not only continue to negatively affect all Government development programmes but could also lead to tensions within its different components, including security services, .
Accordingly, US Special Envoy for Sudan and South Sudan, Princeton Lyman and South Sudan chief negotiator has rushed to Khartoum. But Sudan has insisted on implementing security deal before the restart of the oil export. The refusal was a blow to the two men who insisting on oil repump
Following a cabinet meeting headed by president Omer Al Bashir that approved the 2013 draft budget, Finance Minister, Ali Mahmoud asserted that the government will no longer depend on oil returns in the new budget.
The Minister has denied any intention to impose new taxes or cut fuel subsidies next year.
Mahmoud said the budget contains no more tax increases but the government is trying to "extend the umbrella of taxation", which is in line with economists|| calls to broaden the tax base.
The budget however will not reflect last September||s oil deal with landlocked South Sudan by which Khartoum would receive a cut from every barrel of oil exported by Juba.
Sudan has relied on other resources including gold and Sudanese oil production will hit150,000 barrels per day (bpd) from 115,000 bringing $300 million in revenues.
The Minister||s announcement is a clear message to Juba that restart or the cessation of oil exports via Sudan is no matter to Sudan||s balance. It||s true that oil returns is important for the general budget.
Sudanese gold exports, example, reached between 47 and 48 tonnes by November and were expected to rise above 50 tonnes annually, bringing in more than $2 billion a year, he added.
According to reliable economic sources at Federal Ministry of Finance, the Sudanese government has instructed its negotiating delegation to Addis Ababa to make no compromise for oil because oil is no longer important for its budget.
Unlike Sudan, South Sudan||s economy depends mainly on oil returns that why the United Nations peacekeeping chief has warned that the delay of South Sudans oil exports will have negative economic and social impacts on the newborn state.
In a report on South South Sudan, Mr. Ladsous said given the dependency of South Sudan on oil revenues, further delay in generating them would not only continue to negatively affect all Government development programmes but could also lead to tensions within its different components, including security services, .
Accordingly, US Special Envoy for Sudan and South Sudan, Princeton Lyman and South Sudan chief negotiator has rushed to Khartoum. But Sudan has insisted on implementing security deal before the restart of the oil export. The refusal was a blow to the two men who insisting on oil repump
