Financial Advisor confirms that the government has developed an economic approach to enhance growth and reduce unemployment
Financial Advisor confirms that the government has developed an economic approach to enhance growth and reduce unemployment
2025-02-24
The financial advisor to the Prime Minister, Mazhar Mohammed Salih, stated today, Monday, that the government has developed an economic approach to enhance growth and reduce unemployment, while noting that the new industrial cities will be the cornerstone of the economic renaissance. Salih stated, in a statement to the official agency, that “the Sudanese government has developed a clear economic approach to enhance the national economy, represented by raising growth rates in the non-oil gross domestic product by no less than 5%, in addition to gradually reducing unemployment rates to stabilize at 4% in the future.”
He explained that “achieving these two goals requires focusing on economic development priorities, most notably supporting the manufacturing industry, which can absorb 60% of unemployment, and contribute to diversifying sources of national income and increasing the gross domestic product rapidly.”
He also noted that “the government is working to achieve this through three main tracks, including supporting youth lending initiatives, which included many youth gatherings to stimulate the workforce, establishing “Riyada Bank” as a private bank with broad government support to grant loans to small and medium industrial activity, in addition to forming a sovereign guarantees committee to finance large industries through bank loans guaranteed by the state, in cooperation with major industrial countries such as Western Europe and Japan.”
He also stressed that “these efforts will focus on developing five main industrial fields, including infrastructure industries linked to the “development path” and reconstruction projects, pharmaceutical industries, in addition to petrochemical industries and petroleum derivatives, advanced engineering industries, in addition to developing the oil sector and manufacturing natural and associated gas, with the aim of zeroing its burning and benefiting from it in the electricity sector.”
He added that “the new industrial cities on the path to development will be the cornerstone of the comprehensive industrial development strategy in Iraq,” noting that “the industrial renaissance is based on a strategic vision based on partnership between the state and the private sector, within the philosophy of building a social market.”
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