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2026/01/19
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07:50:54
Latest News:
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Latest News:
PLC Member al-Khanbashi Stresses Pursuing Perpetrators of Violations in Hadramout, Providing Justice ..
Vice Foreign Minister, Egyptian Ambassador Discuss Bilateral Relations and Cooperation
Health Ministry Undersecretary, WHO Discuss Strengthening Health Partnership
Minister of State, Aden Governor Directs Reopening of Central Organization for Control and Auditing Office
PM, U.S. Ambassador discuss joint cooperation
World Bank says Yemen faces significant economic hardships caused by continued Houthi blockade on oil exports
[01/11/2024 05:14]
ADEN - SABA
The World Bank said that Yemen is facing significant economic hardships caused by the continued Houthi blockade on oil exports.
According to the World Bank’s latest Yemen Economic Monitor (YEM) this blockade contributed to a 42 percent drop in fiscal revenues for the Internationally Recognized Government (IRG) in the first half of 2024, preventing it from providing essential services to the population.
The suspension of IRG oil exports, combined with a heavy reliance on imports, has intensified external pressures, leading to a depreciation of the Yemeni Rial in the Aden market from 1,619 per US dollar in January 2024 to 1,917 by the end of August
According to the report, "the conflict has as pushed most Yemenis into poverty, while food insecurity has reached historic levels, with over 60 percent of the population now facing inadequate access to food."
The World Bank said that Yemen is facing significant economic hardships caused by the continued Houthi blockade on oil exports.
According to the World Bank’s latest Yemen Economic Monitor (YEM) this blockade contributed to a 42 percent drop in fiscal revenues for the Internationally Recognized Government (IRG) in the first half of 2024, preventing it from providing essential services to the population.
The suspension of IRG oil exports, combined with a heavy reliance on imports, has intensified external pressures, leading to a depreciation of the Yemeni Rial in the Aden market from 1,619 per US dollar in January 2024 to 1,917 by the end of August
According to the report, "the conflict has as pushed most Yemenis into poverty, while food insecurity has reached historic levels, with over 60 percent of the population now facing inadequate access to food."
Key words:
August According - Internationally - According - depreciation - intensified - significant - contributed - insecurity - suspension - inadequate -
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