Sudan inflation soars, raising specter of hyperinflation

Young journalists club

News ID: 49520
Publish Date: 21:35 - 29 November 2020
Sunday, 29 November 2020_Inflation in Sudan has risen to one of the highest levels in the world, and the country risks slipping into hyperinflation unless it gets its budget deficit and money supply under control, economists say.

Sudan inflation soars, raising specter of hyperinflationThe runaway prices have worsened an economic crisis for millions of ordinary Sudanese and imperilled a political transition under a military-civilian power sharing deal.

The government has run up enormous budget deficits by subsidizing the cost of fuel, then financed the deficits by printing money.

This has debased the currency, weakening it against other currencies and driving inflation up to annual 230% in October, according to the state statistics bureau.

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