Investigating the main drivers of inflation and policy measures for controlling inflation in Sudan
Year: 2024
Type: article
Abstract: Sudan has been grappling with persistent inflation, negatively impacting its economy and citizens for years. This study examines the causes of inflation in Sudan from 2000 to 2023, analyzing past and current policies. Factors contributing to inflation include money supply growth, declining exchange rates, fiscal deficits, and economic structural weaknesses. External factors like global commodity price hikes and political instability have exacerbated the situation. Poor economic policies, such as overreliance on oil revenues, have worsened hyperinflation, especially after South Sudan's secession. Efforts to stabilize the economy, like currency adjustments and fiscal reforms, have fallen short due to systemic constraints. The report recommends monetary reforms, exchange rate stabilization, fiscal discipline, and investment in local production to address these challenges. International cooperation and debt forgiveness are also crucial to prevent economic fluctuations. Implementing these measures can help Sudan recover economically and improve the well-being of its citizens.
Language: English
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4408464353