The Economist, Dr. Haitham Mohamed Fathi

Dollar price increase is due to lack of foreign deposits

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Economist, Haitham Moahmed Fathi said that the rise in the dollar price is linked to the lack of deposits from the countries supporting Sudan, and justified the decline in dollar price for several reasons.

Haitham said that the main reason for the decline in the dollar price is the lack of demand for dollar, as well as the Saudi Arabia provision of fuel for six months to come to Sudan, and the provision of wheat and medicines, noting that these commodities needs large amounts of dollars to be imported.

He explained that the central function of the foreign exchange reserves at the Central Bank is to provide the needs of citizens of goods and services, and to cope with crises in exceptional circumstances.

 He acknowledged that the challenges facing the Sudanese economy are still present, including the deficit in the trade balance estimated at five billion dollars.

Source: SUNA

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