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PM presides over Economic Council's meeting
[14/01/2020 05:27]

The Economic Council held a session Tuesday in the interim capital Aden presided over by the Prime Minister Dr. Ma'een Abdulamilk.

The meeting devoted to discuss a range of topics and reports about economic, financial and monetary situations. Government' plans, policies and efforts to mitigate hardships created by Houthi rebel militia, improve revenues and maintain national currency exchange rate were also elaborately debated.

The discussions also touched upon necessary measures need to be taken to increase crude oil production and exports.

The Prime Minister briefed the council about the government's economic performance in 2019, challenges in existence and practical plans to achieve the economic recovery this year.

The Finance Minister reported about planned practical procedures to manage the public revenues of the country and proposed mechanisms to improve efficiency of the authorities in charge of collecting public revenues.

The Governor of the Central Bank of Yemen (CBY) cited the interventions made by the CBY to regain exchange rate stability of the national currency and suggested action-plans to manage the disastrous implications of Houthis' decision to confiscate the newly issued national currency banknotes and ban dealing with in the militia controlled regions.

The Minister of Oil detailed the council about the returns of crude oil and measures taken to improve and increase oil production and exports.

The Economic Council has decided to undertake the mission of regulating fuels trade instead of the Economic Committee.

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