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The National Team For Foreign Outreach - Yemen

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ECONOMIC SITUATION — December 2021

  1. Another year has passed while the salary crisis is going on in its sixth year. The interruption of public sector employees’ salaries has continued since the transfer of the CBY operations from the Capital, Sana’a, to Aden governorate in August 2016. In fact, its consequences continue to overshadow the economic scene in Yemen, which is witnessing the worst humanitarian crisis in the world, as a result of the ongoing war against it by Saudi Arabia, the UAE and their mercenaries.
  2. The humanitarian disaster in Yemen has been exacerbated due to the economic blockade imposed on Yemen by the countries of War Coalition. This has led to increase in the suffering of citizens, high unemployment rates and a scarcity of job opportunities.
  3. Protests continue to escalate in all the southern Yemeni governorates occupied by Saudi Arabia and the UAE, denouncing the collapse of the local currency, the rise in prices, the interruption of salaries and the deterioration of living conditions.
  4. During the month of December, foreign exchange rates against the Yemeni riyal recorded an increase, after days of declining, in the southern Yemeni regions occupied by Saudi Arabia and the UAE. The US Dollar rate reached YR 1000 per USD. On the contrary, the Yemeni Riyal maintained a state of stability in the areas ruled by the National Salvation Government in the Capital, Sana’a, as the dollar rate has not exceeded the limits of 600 YR against the US dollar.
  5. Protests continue to escalate in all the southern Yemeni governorates occupied by Saudi Arabia and the UAE, denouncing the collapse of the local currency, the rise in prices and the deterioration of living conditions. Most of the shops, banks and bakeries were closed, and money exchange and transfer networks were suspended.
  6. As a result of the economic sector deterioration, salaries interruption, collapse of exchange rates and exacerbation of food insecurity, millions of people have been unable to afford enough food for their day. Meanwhile, the so-called Hadi government, backed by the Saudi-led Coalition of War on Yemen, continues to loot crude oil export revenues, which were estimated during the year 2021 at 1.76 billion dollars. This is actually a deliberate tampering intended to loot the State’s crude oil resources.
  7. The stifling fuel crisis continues in various Yemeni governorates, especially in southern Yemen, which is controlled by the Saudi-Emirati occupation, with a significant decrease in supply and a record rise in prices. Scenes of long queues in front of petrol stations are still repeated in several cities.
  8. Yemen Petroleum Company (YPC) in Sana’a accuses the Saudi-led Coalition of continuing to detain oil derivatives tankers off the coast of Jizan, despite obtaining UNVIM pass permits after inspection, under the pretext of customs duties which are paid to employees and do not cover 5% of the monthly salary.

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