An economic reading of the repercussions of the war 2 ✍️ Dr Haitham Muhammad Fathi
The value of the Sudanese pound has fallen against foreign currencies since the outbreak of war
The war also resulted in the closure of 70 percent of bank branches and the looting of banks' property, assets and assets.
The war worsened the situation of the already problematic banking sector
The war affected the economy and interests of Sudan and the South, which doubled the impact of conflicts within the country, resulting in a drop in Juba's oil exports to 150,000 barrels per day from 350 000 previously, with Sudan's revenues amounting to around $300 million per year. were also affected.
The damaged oil export line is the longest in Africa and cost around $1.8 billion to construct.
This line suffers from the risk of damage, which hampers the agreement to transport crude oil from production areas to export ports, governed by international agreements.
As a result of the war, the economy was targeted and a wide range of infrastructure destroyed, including the main Al-Jili refinery, which produced around 100,000 barrels per day.
The war led to the collapse of citizens' living standards and an increase in the poverty rate, in addition to the looting of citizens' property and money by the Rapid Support Forces.
The migration of businessmen and traders working in the industrial and artisanal sectors, including operators, to neighboring countries has led to a rise in the unemployment rate to over 55%.
The weakness of the operating mechanism of the infrastructure and service sectors has led to the disruption of the economic cycle and the collapse of the production market, accompanied by the weakness of the purchasing power of a large part of the Sudanese, which increased poverty rates.
Sudan, as a country and citizens, needs urgent financial support that meets a small part of its growing basic needs and pays attention to local production and development of the agricultural sector to provide food.
Source link
