LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Business News » World News

Lifting Sudan sanctions to yield positive but gradual effect: Finance Minister

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
Lifting Sudan sanctions to yield positive but gradual effect: Finance Minister
President Donald Trump talks to the media. Image Source: Reuters
Written By: PTI
Updated: Sun, Oct 08, 2017
09:43 am
Reuters
RELATED NEWS
H1B visa: Trump administration seeks to ensure temporary work permits do not harm domestic workers H1B visa: Trump administration seeks to ensure temporary work permits do not harm domestic workers
President Donald Trump defends personal charity accused of illegal activities President Donald Trump defends personal charity accused of illegal activities
KKR sees India benefiting from US-China trade war KKR sees India benefiting from US-China trade war
US withdraws duty-free concession on import of 50 Indian products US withdraws duty-free concession on import of 50 Indian products
H1-B visa: Tim Cook, Indra Nooyi to Ajay Banga, top US Inc CEOs say Trump could harm US H1-B visa: Tim Cook, Indra Nooyi to Ajay Banga, top US Inc CEOs say Trump could harm US

Sudan`s economy is headed towards gradual recovery, Finance Minister Mohamed Othman Rukabi said at a forum on Saturday, just one day after the US lifted its 20-year-old economic sanctions opening the way for critical economic reforms and badly needed investment.

The move will suspend a trade embargo, unfreeze assets and remove financial restrictions that have hobbled the Sudanese economy.

"Lifting the sanctions leads to increasing growth and production rates, but in order to benefit from this chance we must bring down inflation, increase exports, decrease imports and government spending, lift subsidies on basic goods and attract foreign investment," Rukabi said.

Sudan`s economy has struggled since the south seceded in 2011, taking with it three-quarters of the country`s oil output, its main source of foreign currency and government income.

Price rises have been compounded by the government`s decision late last year to cut fuel and electricity subsidies in a bid to tighten its finances. Petrol prices rose by about 30 percent, leading to broader inflation.

"The finance minister`s comments on reducing inflation and government spending and increasing exports would not have been possible before the sanctions were lifted and now there is hope that Sudan can operate under normal conditions," said Bakri Youssef, general secretary of the Federation of Sudanese Businessmen.

The United States lifted long-standing sanctions against Sudan on Friday, saying Sudan had made progress fighting terrorism and easing humanitarian distress, and also secured Khartoum`s commitment not to pursue arms deals with North Korea.

Khartoum is hopeful that the move would help it regain access to global financial markets which could help draw in badly needed investment and raise prospects for a recovery.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
President Donald TrumpSundan SanctionsUSAEconomy
RELATED NEWS
H1B visa: Trump administration seeks to ensure temporary work permits do not harm domestic workers H1B visa: Trump administration seeks to ensure temporary work permits do not harm domestic workers
President Donald Trump defends personal charity accused of illegal activities President Donald Trump defends personal charity accused of illegal activities
KKR sees India benefiting from US-China trade war KKR sees India benefiting from US-China trade war
US withdraws duty-free concession on import of 50 Indian products US withdraws duty-free concession on import of 50 Indian products
H1-B visa: Tim Cook, Indra Nooyi to Ajay Banga, top US Inc CEOs say Trump could harm US H1-B visa: Tim Cook, Indra Nooyi to Ajay Banga, top US Inc CEOs say Trump could harm US

LATEST NEWS

Income Tax Refund Status: Yet to get credit after seven days of ITR filing? Check for these common mistakes

7th Pay Commission latest news: Starting salary from Rs 67,700 plus DA, HRA; check 7th CPC central government offer at upsconline.nic.in

OPPO Reno 5 Pro 5G smartphone launched in India | Check price, camera, specs, features, offers and other details

Larsen and Toubro, KEC International, Kalpataru Power Transmission II Key stocks to watch out in Budget from Capital Goods sector

GST: Never claim fake Input Tax Credit (ITC) in greed of money, else this will happen - Modi government is watching you!

CESC share price: Acquire 23.18% equity shares in associate company NPCL

SBI, ICICI Bank and Yes Bank share price outlook I What investors can do - EXPLAINED

Midcap Picks with Anil Singhvi: Market expert Rajesh Palviya recommended these 3 very strong stocks

Indigo Paints IPO: IIFL Securities recommends investors to subscribe to the issue, believes its a Multi-year high growth story

JEE, NEET, CBSE board exams 2021: Education minister has this special message for students

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved