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Finance Minister, EU ambassadors discuss support for the government to confront economic challenges
[13/09/2023 02:15]

Aden - Saba
Finance Minister Salem Ben Breik discussed with the head of the European Union mission to Yemen, Gabriel Viñales, in the temporary capital Aden today, and the ambassadors of France, Germany, the Netherlands, and Finland, the latest developments in the economic and financial situation in Yemen, and the Yemeni government’s efforts with the support of brothers and friends, led by the Kingdom. Saudi Arabia, in facing current challenges.

The meeting focused on the level of implementation of the economic, financial and monetary reforms pursued by the government and the Ministry of Finance in order to sustain public finances, as well as confronting the current economic challenges in the country as a result of the terrorist Houthi coup militia supported by Iran in October of last year 2022, targeting ports and vital oil and economic and strategic facilities disrupting the export of crude oil, which is the most important economic resource and constitutes 70 percent of the state’s general budget.

The meeting discussed the significant negative effects of the continued and intensified economic war the Houthi militia is launching, the continued cessation of crude oil exports, the decline of self-resources in light of the country’s expanding needs, the division of public institutions, the great disparity in monetary and financial policies, and the deterioration of the purchasing value of the national currency.

The meeting also went over the worsening food security crisis, the rise in unemployment and inflation rates, and the deterioration of agricultural production as a result of the repercussions of climate change, as well as developments in regional and international efforts to achieve comprehensive and lasting peace.

The Minister of Finance spoke about the developments in the financial and economic conditions in Yemen, and the government’s efforts to confront the challenges facing it, fight corruption in state institutions, and achieve stability and improvement in general conditions, especially economic, service, and living conditions, as well as the importance of Saudi support in reducing the deficit in the state’s general budget, and the extent of the need for the continued support of brotherly and friendly countries for the government in order to move forward with the comprehensive reform program and address the current difficult economic conditions, and the importance of continuing to support technical and human capacity building programs in the Ministry of Finance and its affiliated government departments.

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