Yemen's economy facing imminent collapse, says minister

Safer Company CEO Discusses Energy Sector Challenges, Opportunities for Joint Cooperation with German Ambassador

The Executive Director of Safer Exploration and Production Operations Company Eng. Salem Kaaiti discussed Monday with the German Ambassador to Yemen Thomas Schneider a number of issues related to the energy sector and the challenges facing the company amid the exceptional circumstances the country is experiencing.

Magnitude 5 Earthquake Strikes Fiji Islands in the South Pacific

A magnitude 5.0 earthquake struck south of the Fiji Islands in the South Pacific Ocean on Sunday, according to the United States Geological Survey (USGS). The earthquake occurred at a depth of approximately 486.2 kilometers beneath the Earth's surface.

Oil price tops $100 a barrel

Oil prices jumped above $100 per barrel today, Monday, as the U.S. Navy prepares to take control of ship movements in the Strait of Hormuz.

Paris Saint-Germain Crowned UEFA Champions League Winners

French club Paris Saint-Germain claimed the UEFA Champions League title after defeating Arsenal 4-3 in a penalty shootout following a 1-1 draw in the final held at Puskás Aréna in the Hungarian capital, Budapest.

Last Update: ، 2026/06/08 Time 11:34:25
Latest News:

Al-Muharrami Stresses Development Partnership with Japan

Minister of Human Rights Discusses Strengthening Bilateral Cooperation with Italian Ambassador

Aden Governor, Russian Ambassador Discuss Strengthening Bilateral Cooperation

PLC Member al-Arada, German Ambassador Discuss Yemen’s Political, Humanitarian and Development Situation

MASAM Removes 798 Landmines During First Week of June

Yemen's economy facing imminent collapse, says minister

[15/12/2021 02:21]

RIYAHD-SABA
Minister of Finance Salim bin Bureik said" the Yemeni economy is facing formidable challenges and difficulties putting it at the edge of downfall, with serious depreciation of national currency value and $1 exchange rates exceeding 1500 (YR), as a result inflation percentages hit unprecedented high records, likewise unemployment rates and numbers of the people under poverty line".

His remarks came as he contributed to the first workshop on building capacities of the Finance Ministry held here today in Riyadh in coordination between the Ministry and Saudi Program for Development and Reconstruction Yemen (SPDRY).

Bin Bureik underscored Yemen's need for urgent assistance by the Kingdom of Saudi Arabia and the SPDRY. He stated that Yemen today is really in dire need for Saudi support more than ever before to bail out the national economy.

Minister of Planning and International Cooperation Dr. Wa'id Badhib, Suadi Ambassador, general supervisor of the SPDRY Mohammed al-Jaber, Head of the GCC's Mission in Yemen Ambassador Sarhan al-Manikher were in attendance.