Signing the joint government accounts position report between the Ministry of Finance and the CBOS

The Ministry of Finance and the Central Bank of Sudan (CBOS) signed the joint government accounts position report for the fiscal year 2024. The report revealed the completion of payment of requirements to support the war effort and salaries of the regular forces, the government’s bearing of all costs of humanitarian aid, the fulfillment of payment of requirements for the health sector, and the full payment of compensation for workers in federal government units and federal government pension obligations until December of the aforementioned year, with coverage of part of the arrears for the year 2023.
The report included payment of state transfers, according to the flow of resources and the mechanism followed, in addition to supporting health, water and education services for the displaced.
The report resulted in payment of support for higher education, support for universities and media organizations, and the management of federal units and bearing the cost of their rents.
Dr. Gibril Ibrahim, Minister of Finance, during his chairmanship of the meeting, stressed the importance of full coordination between financial and monetary policies and their integration and close cooperation between the Ministry and the Bank to ensure the achievement of the goals of the national economy and enhance its capabilities, indicating that the Central Bank is the second wing of the Ministry of Finance, pointing to the continuation of efforts to apply technology in financial and banking work in a way that contributes to improving performance, controlling revenues and reducing losses in them, indicating that the challenge now is to expand revenue sources and rely on real resources that protect against the risks of borrowing from the banking system, stressing the Ministry’s continuous efforts to achieve this; stressing the importance of enhancing coordination with the Central Bank to determine the brakes on inflation and the consequences of borrowing.
For his part, Mohamed Othman, Deputy Governor of the Central Bank, stressed the commitment to cooperation between the two institutions in a way that preserves the indicators of the performance of the overall economy; indicating that there is no absolute independence for the Central Bank.