Translated By: Belgees Fagier
Khartoum 20,6,2018, (SUNA)- According to expectations of the World Bank The Gross Domestic Product (GDP) will increase in Sudan in the next year 2019 to 03.1%, in consistent with its expectation of same increase to the economic development in Sub-Saharan of Africa.
Its report (International Economic Horizons), issued June, informed that GDP in Sudan continues to increase for next coming years from 02,6% this year 2018 to 03.1 in year 2019 and to 03.5% by the year 2020.
The Increase is attributed to expectations on rise in production of the mining sector and stability of minerals prices a matter that will boost the economic activity in minerals exporting states in addition to improving the agricultural conditions and the investments of infrastructures in other countries in the region, the WB report said.
In generally, World Bank expect that growth rate will increase in all states of the region to 03.5 % in the year 2019 and to 03.7% in the year year 2020, pointing out that restoration of trust to the business’s institutions and consumers will support the strong growth of Investment.
These expectations announced by World Bank on rise of the growth rate in Developing Countries come on contrary with the drop rates in developed countries . according to the report issued by WB, the economic activity in developed countries will register growth rate of 02.2% in the year 2018 , before before dropping to 02% in the next year. As the Central Banks will cancel monetary Stimulus programs.
But those positive expectations fof growth in the region are vulnerable to risks of decrease . As possibilities of Burses fluctuations and escalation of risks may lead some countries to be Vulnerable to these instabilities, beside increase in the trend of commercial protection while aspects of confusion and ambiguity concerning policies and geopolitical risks remain great and strong.
In the long run long term, drawback are expected in the demand for basic goods, a matter that wouldf prevent improvement of prices, the report warned, and added that this situation will have negative affects and would result in drop of growth rate in Developed countries. In addition, the main arising markets contributed largely to increasing the international consumption of minerals during past two decades, but the expectations pointed to the decline of demands for most primary goods.
The First Director of Economies of Development in World Bank, Shantianan Devarajan, said that the expected decline in level of primary goods consumption may create in the long term challenges for two- thirds of the developing countries that depend on exporting primary goods to get revenues and to enhance the important the economic activities and strengthen monetary policies”.
The report encouraged policy makers to accomplish reforms in development in the long term. As the fast alterations in technology arena justify the importance of learning more experiences, boosting competition and Trade openness, indicating that enhancement of the basic skills of reading, writing and mathematics could provide remarkable development benefits, and that the inclusive trade agreements could also reinforce development horizons.