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Maj. Gen. al-Zubaidi highlights need for the government to undertake responsibility in salvaging economic situation

[25/05/2024 01:57]

ADEN - SABA
Member of the Presidential Leadership Council Major General Aidaroos al-Zubaidi has highlighted the need for the government to undertake its responsibility in salvaging economic situation in the country.

In a meeting with Prime Minister Dr. Ahmed bin Mubarak here today, al-Zubaidi learned about bin Mubarak's recent visit to the UK and the outcomes of the talks he conducted with UK officials regarding the dangers of the Houthi escalation in the Red Sea and Bab al-Mandab, and the repercussions of that on the security and stability of the region, its repercussions on the food and fuel supplies coming into our country, and its effects on trade at the regional and international levels.

The talks went over the humanitarian conditions in the liberated governorates, the efforts made by the government to stop the economic deterioration and provide services, most importantly is the disbursement of the necessary cash to purchase fuel for power stations to ensure a stabile current at the minimum level during the summer, and the strategic plans that the government is working on to address the issue of electricity through implementing strategic projects to generate electricity using clean energy.

Maj. Gen. Al-Zubaidi emphasized the need for the government to undertake its responsibilities in halting the rapid devaluation of the local currency by controlling monetary policies, rationalizing spending and developing alternative resources, and forcing ministries, institutions and revenue-generating agencies to supply all revenues to their accounts in the Central Bank in a way that ensures the availability of necessary cash for the stability of exchange rates, and in a manner that assists the government to fulfill its obligations.