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2025/11/29
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09:35:05
Latest News:
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Latest News:
President al-Alimi convenes a meeting of Supreme Security Committee
New Hadramout Governor Sworn In by Presidential Council Chairman
Leadership Council Chairman Honors Former Intelligence Chiefs with Bravery Medals
Prime Minister Inspects New Cabinet Headquarters in Aden Ahead of Inauguration
Yemen Condemns Israeli Occupation’s Aggression on Beit Jinn in Rural Damascus
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."
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."
Key words:
August According - Internationally - According - depreciation - intensified - significant - contributed - insecurity - suspension - inadequate -
President al-Alimi urges reinforcing national unity, upholding state institutions
President al-Alimi convenes a meeting of Supreme Security Committee
New Hadramout Governor Sworn In by Presidential Council Chairman
Leadership Council Chairman Honors Former Intelligence Chiefs with Bravery Medals
Prime Minister Inspects New Cabinet Headquarters in Aden Ahead of Inauguration
Human Rights Watch: Houthi Militias Arrest Dozens of Political Opponents, UN Employees
Republican Decree Appointing Governor for Hadhramout issued
Prime Minister Praises GCC support to Government
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