Oil Generates Unprecedented Economic Growth, Parliament Committee
Member in Parliament Economic Committee, Omer Alsheikh Badr, stated that oil production has facilitated realization of unprecedented rate of economic growth. In statement to Sudan Vision on the 10th anniversary of oil exporting occasion, Badr noted that during the last 10 years, oil contribution to GDP amounted to 70% with 90% in South Sudan where GoSS relies overwhelmingly on oil as the other revenue generating sources are negligible.
He added that, non-oil exports contribute 30% of the GDP, hoping that the major development projects in Gezira, Rahad, and Halfa will help achieve economic equilibrium given the drop in international oil prices.
Badr assumes that 2009 should have realized a gain of $11 per barrel as it has been on an estimate of $59 per barrel while the actual price hit 70$ per barrel.
He urges diversification of the economy, hence exports so as to minimize exclusive reliance on oil, suggesting more concern with Gum Arabic, animal resources, the irrigated sector and timely delivery of agricultural production inputs.
- Database Search
- Unpaid Debt A comprehensive overview of the role of the Lundin Consortium in the oil war. ECOS calls upon the Swedish, Austrian and Malaysian governments to investigate whether, as a matter of international law, Lundin, OMV and Petronas 'were complicit in the commission of war crimes and crimes against humanity by others during the period 1997-2003.’ In response, the Swedish Public Prosecutor for International crimes opened a criminal investigation into ‘links between Sweden and the reported crimes’.
- In Depth For more specific information about the Lundin court case please visit the Unpaid Debt dossier.
