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The National Team For Foreign Outreach - Yemen

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ECONOMIC SITUATION – June 2020

The Yemeni people continue to suffer, especially as 80% of civil servants do not receive their salaries since the countries of War Coalition against Yemen relocated CBY administration from Sana’a to Aden Governorate in August 2016. This has led to an obvious increase in the ratio of unemployment and poverty and a decline in basic services, which negatively and significantly affected their lives and their families.

OXFAM reported that the remittances from Yemenis abroad fell by 80% during the first third of this year, due to the economic consequences of COVID-19, despite its significance for the income of millions of citizens.

The continued detention of oil derivatives ships and preventing them from entry to the port of Hodeidah, despite having UN pass permit after inspection, will result in a complete cessation of all economic, health, service and transportation sectors. This will exacerbate the economic situation leading to a humanitarian catastrophe and severe suffering for millions of Yemenis.

The National Salvation Government in Sana’a disbursed the second half of January-2018 salary in May 2020 from oil and gas revenues collected in the CBY branch in Hodeidah. Several attempts had been made to convince Hadi government in Riyadh to cover the salary difference amount so that the salaries of all public employees could be paid, but in vain. Sana’a government step has provoked the anger of the war coalition on Yemen to detain oil derivatives ships and prevent them from reaching Hodeidah port, leading to a stifling oil derivatives crisis in the provinces controlled by the National Salvation Government.

The National Salvation Government in Sana’a revealed a number of important economic decisions within its Economic Recovery Program, most notably:

  • Allocation of 10 billion riyals within the budget of 2020, to be provided to citizens in the form of interest-free loans through Islamic banks. Part of it will be devoted to farmers to improve and increase production to achieve food security in the face of blockade and aggression.
  • Establishing an Export Development bank, and other three banks for providing Islamic microfinance services.

C:\Users\MyLaptop\AppData\Local\Microsoft\Windows\INetCache\Content.Word\Statistics of the economic and agricultural establishments targeted by the Saudi-led coalition air strikes in various governorates during the month of -June 2020.jpg

 

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