SUDAN NEWS ALERT: Reuters - Sudan's economy tumbles in post-coup deadlock
Reuters report that Sudan is once again lurching towards economic collapse in the aftermath of the October 2021 coup, which “could fuel further citizen resentment” amid price increases to compensate for billions in foreign assistance withdrawn following the coup, with patient admissions at state healthcare facilities rising from 250 SDG to 4,200 overnight.
In January 2022, Sudan exported only $43.5 million worth of goods, down sharply from $293 million in December, although this is a peak agricultural export season. Thus, the military-led government is raising prices and taxes by aiming for a 145% and 140% increases in tax revenues commodities and services sales respectively.
However, aims for a five-fold increase on business license fees will be “hard to impose” as per a local banker as businesses are accustomed to not paying taxes. Nonetheless, a business owner said that the current businesses environment is the worst in two decades.