Economist prompts urgent economic reforms

2020-02-26 22:25:52.847 | view 262 | share : |

Khartoum, February 26 (SUNA) – A Professor of Economics at Bahri University Dr. Yassir Siddiq has appealed the country's economic team to undertake urgent economic reforms targeting the infrastructure of the country's national economy. Dr. Siddiq stressed, in a statement to SUNA, that the said reforms should take into account the economic reality of the country and the circumstances surrounding it through a tight plan that restores the balance of the economy. "This plan should start rationalizing public spending urgently to reduce the deficit in the state's general budget in a way that enables controlling the inflation rates while utilizing resources to finance production as a top priority instead of consumption, in addition to exploiting subsidies in real development projects to create a kind of growth in the macro-economy," he added.  He stressed the importance of supporting these steps by standardizing the exchange rate. The economic expert stressed that the plan should target the of increase supply, production and productivity within an executive plan, calling for containing the steady growth of the quantity of money by stopping any possible printing of banknotes, especially for the purchase of gold or other purposes, underlining the need to structure the financial and administrative banking sector in a manner that enables it to keep pace with developments that the Sudanese economic scene is witnessing, emphasizing the necessity of addressing the roots of the economic problem .and not its symptoms within the context of a comprehensive macroeconomic reform away from the fragmentation of solutions