PM says Houthi rebels collected YR 846 bln revenues last year

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PM says Houthi rebels collected YR 846 bln revenues last year

[22/09/2018 02:33]

CAIRO-SABA
Prime Minister Ahmed bin-Daghr said the Houthi rebels collected revenues worth 846 billion Yemeni Riyals last year and pumped it into the market to buy US dollars.

In a seminar held by the national Economic Committee under the slogan "Together We (should) Stabilize the Riyal" in the Egyptian capital on Saturday, bin-Daghr cited a number of Houthi financial abuses that led to the depreciation of the Riyal against the US dollar.

He said the Sana'a-based rebels "collected the revenues from taxes, customs, and other levies that Houthis made religiously (compulsory) such as the Khomos (fifth of individuals' income )."

"Not taking these funds directly to the central bank and commercial banks …is another cause of the collapse of the national currency," he said referring to Houthi practices.

"The leaders of the coupist militia injected nearly 200 billion Riyals all at once to the local market to get it replaced with newly printed banknotes and with foreign currencies," he added.

Going chronically backwards in the militia's abuses, he said: " After looting the country's reservoir of hard currency, and two trillion Yemeni Riyals and hoarded them all in their stores (starting from 2014), the militia's leaders injected the Riyals again into the market giving the national currency a deep stab."