Sudanese President Omar al-Bashir on Tuesday announced a government austerity plan to face the economic crisis, official SUNA news agency reported.

"There will be a review for the power structures at the federal and state level as well as at the level of public institutions through combining government performance efficiency and expanding participation with rationing of public expenditure," al-Bashir was quoted as saying in a speech on the occasion of Muslim holiday of Eid al-Adha.

He added that measures will be taken to reduce external diplomatic missions to decrease expenditure.

The president further noted that efforts will be exerted to stimulate production, increase exports and control imports.

Sudan has been undergoing a dire economic crisis since the secession of South Sudan in 2011, due to which Sudan lost 75 percent of its oil revenues.

On Dec. 19, 2017, the Sudanese cabinet approved the budget for 2018, including new measures for cutting government spending, stopping construction of government buildings, and barring payment of any incentives or rewards without a prior approval from the Ministry of Finance.

The budget aims to stimulate the country's GDP growth to reach 4 percent and bring inflation down to 19.5 percent.

Xinhua