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Sudan receives half billion USD deposit from UAE

Xinhua, December 7, 2016 Adjust font size:

Sudan on Tuesday announced that it has received a deposit worth half a billion U.S. dollars from the United Arab Emirates (UAE), Sudan's Ashorooq Net reported.

"The UAE has offered Sudan a deposit worth half a billion U.S. dollars," Sudanese President Omar al-Bashir told a closed-meeting for the leadership council of the ruling National Congress Party (NCP), the report said.

"The UAE has also committed to providing Sudan's need of gasoline for six months and establishing a solar energy station that produces 1,000 megawatts of electricity daily," he said.

The Sudanese economy has been suffering from difficulties as a result of the U.S economic sanctions and the separation with South Sudan in July 2011.

The Sudanese government declared on Nov. 4 an increase in the prices of fuel and electricity with the aim to control the rise in the inflation rates and value decline of the national currency.

In September 2013, the Sudanese government adopted similar economic measures to revive the economy, including an increase in the oil prices, which then prompted wide protests across the country. Endit