World Bank says Yemen faces significant economic hardships caused by continued Houthi blockade on oil exports

Prime Minister Affirms Government’s Commitment to Building Genuine Partnership with the Private Sector

Prime Minister, the Minister of Foreign Affairs and Expatriates, Dr. Shaya Zindani has affirmed the government’s commitment to building a genuine partnership with the private sector based on transparency and mutual trust.

OCHA: Regional Escalation Directly Impacting Humanitarian Conditions in Gaza and the West Bank

United Nations Office for the Coordination of Humanitarian Affairs has warned that ongoing regional escalation is directly worsening the humanitarian situation in Gaza and the West Bank.

Korea large companies' exports rise 10 percent

Large companies' exports in South Korea rose approximately 10 percent year-on-year in the fourth quarter of last year, driven by increased global demand for semiconductors.

Saudi League: Al-Nassr, Al-Ettifaq and Neom Secure Victories Over Al-Ittihad, Damac and Al-Riyadh

Al-Nassr defeated its guest Al-Ittihad 2–0 in the match that brought them together at Al-Awwal Park Stadium in Riyadh, as part of the 21st round of the Saudi Professional League.

Last Update: ، 2026/03/12 Time 04:49:30
Latest News:

Minister of Local Administration discusses with UNDP joint cooperation

Minister of Public Works discusses with UN Envoy's Office support for road projects

PLC Member Mahmoud al-Subaihi Stresses Importance of Strengthening Agricultural Production to Achieve ..

President al-Alimi : It's important to go on pressurizing Iranian regime, dismantling its armed militias

Member of PLC Mahmoud al-Subaihi Receives Head of UNHCR Office

World Bank says Yemen faces significant economic hardships caused by continued Houthi blockade on oil exports

[01/11/2024 05:14]

ADEN - SABA
The World Bank said that Yemen is facing significant economic hardships caused by the continued Houthi blockade on oil exports.

According to the World Bank’s latest Yemen Economic Monitor (YEM) this blockade contributed to a 42 percent drop in fiscal revenues for the Internationally Recognized Government (IRG) in the first half of 2024, preventing it from providing essential services to the population.

The suspension of IRG oil exports, combined with a heavy reliance on imports, has intensified external pressures, leading to a depreciation of the Yemeni Rial in the Aden market from 1,619 per US dollar in January 2024 to 1,917 by the end of August
According to the report, "the conflict has as pushed most Yemenis into poverty, while food insecurity has reached historic levels, with over 60 percent of the population now facing inadequate access to food."