ESCWA: Yemen's GDP suffered 50% contraction since Houthi militia coup

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ESCWA: Yemen's GDP suffered 50% contraction since Houthi militia coup

[20/12/2021 05:08]

RIYADH - SABA
Yemen's real Gross Domestic Production (GDP) has alarmingly contracted since Iran-backed Houthi militia carried out its coup d'état against the official government in 2021.

The country's GDP has suffered 50% contraction during the time 2014-2020, according to report by the United Nations Economic and Social Commission for Western Asia (ESCWA).

The report issued today by the ESCWA in partnership with the Saudi Program for Development and Reconstruction in Yemen (SPDRY) titled" Least Developing Arab Countries: Challenges, Development Prospects".

The report stated that the economic situation in Yemen, Sudan, Somalia and Mauritania has seriously exacerbated and growth prospects further declined in 2020 due to coronavirus pandemic and instability, the war also has caused the displacement of large number of the population who have become in dire need for aid.