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Council of Ministers discusses practical measures to manage economic hardships

[26/05/2024 03:29]

ADEN-SABA
The Council of Ministers devoted its session today, Sunday, held in transitional capital Aden, presided over by Prime Minister Dr. Ahmed bin Mubarak to explore urgent practical measures to stop declining the national currency exchange rates and manage the economic hardships the country has been enduring.

The Cabinet assigned a committee chaired by Minister of Industry and Trade, include membership of Governor of Central Bank of Yemen, Ministers of Planning and International Cooperation, Finance, Oil and Minerals, Agriculture and Fishery, Transport, Electricity, Governor of Aden and Secretary General of the Council Ministers to turn the suggestions and policies into practical steps to be implemented at short-term and report about to the Cabinet.

The Cabinet reviewed the progress realized in the implantation of the government's decisions about the ongoing economic, financial and administrative reforms.

The Prime Minister urged the Ministries and authorities in charge to double down efforts to deal with current challenges, translate the government's plans to control corruption, rationalize spending and improve revenues into practical programs and actions.

Bin Mubarak touched upon the outcomes of his state-visit to the UK and his talks with the British officials about the action-plans to deal with the risks of Houthi militias' ongoing escalation in the Red Sea and Bab el-Mandeb.

The Cabinet praised constructive outcomes of the Prime Minister's visit to London that produced significant increase the UK's humanitarian aids with up to 58 percent.

The Cabinet has agreed to the content of the memorandum of understanding between the Ministry of Finance and Arab Monetary Fund (AMF) about the comprehensive economic, financial and monetary reforms program in the Republic of Yemen during the years 2024-2025.

The Council of Ministers authorized Minister of Finance to work out a draft bill about establishing an Executive Unit tasked with following-up the implementation of the comprehensive economic, financial and monetary reforms program.

The Cabinet has approved Yemen joining the protocol for eradicating illegal trading in tobaccos products of 2012.

The Council of Ministers welcomed Australian government designation Houthi militias a Terrorist Organization.

The Cabinet also welcomed the decision of the International Justice Court that ordered an immediate halt of the Israeli occupation entity's military attack on the city of Rafah.