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The National Team For Foreign Outreach - Yemen

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ECONOMIC SITUATION- November 2021

  1. The salary file and the interruption of public service employees’ salaries are still bending since the administration of CBY and all its functions were transferred from Sana’a, the Capital Secretariat, to Aden Governorate in August 2016. At the same time, the Saud-led Coalition of war on Yemen continues to destroy all aspects of life in the country, including the economic war, which has led to the economic collapse that greatly intensified the humanitarian suffering.
  2. The salary interruption crisis has crossed its sixth year. Despite that, the unpaid public school teachers continue to perform their educational duties to ensure the continuation of the educational process under catastrophic living conditions. Consequently, the educational process may stop completely, if the salaries are not paid. Hence, the United Nations shall bear full responsibility for not providing the minimum salaries for the continuation of the educational process.
  3. During the month of November 2021, foreign exchange rates showed a rapid increase against the Yemeni riyal in the southern Yemeni regions occupied by Saudi Arabia and the UAE, as the US dollar rate crossed the barrier of 1600 YR, while the Saudi Riyal goes beyond 400 YR. This has exacerbated the problem of food insecurity, as millions of people are unable to afford enough food for their day in those areas. On the contrary, the Yemeni Riyal maintained a state of stability in the area ruled by the National Salvation Government in Sana’a, as the dollar rate has not exceeded the limits of 600 YR against the US dollar.
  4. With the continued collapse of the local currency in the areas occupied by Saudi Arabia and the UAE, the financial transfer commission between Sana’a and Aden has exceeded 150 %, and as a result, citizens turn to foreign currencies in their remittances.
  5. All southern Yemeni governorates under the Saudi-Emirati occupation have witnessed escalating protests, denouncing the economic deterioration and the collapse of the local currency value. Most of the shops, banks and bakeries were closed, and the money exchange and transfer networks were suspended.
  6. The United Nations Development Program (UNDP) estimated that during the last six years the crisis has caused Yemen to miss out US $126 billion of potential economic growth.
  7. The World Food Program (WFP) stated that food prices in Hadi government areas have risen by more than 90%, since the beginning of this year 2021.
  8. Yemen Petroleum Company (YPC) in the Yemeni Capital, Sana’a, stated that direct economic losses as a result of the difference in the costs of obtaining fuel have exceeded $600 million dollars since the beginning of 2021, while indirect losses have exceeded 12 billion dollars.
  9. The fuel crisis continues in various Yemeni governorates, especially in the southern areas, which are under the control of the Saudi-Emirati occupation, with a significant decrease in supply and a record rise in prices. Scenes of long queues are still repeated in front of petrol stations in more than one city.
  10. During this month, the oil terminals in ports of the southern governorates under the control of the Saudi-Emirati occupation are witnessing an active export movement of oil tankers. More than 3.1 million barrels of oil are sold abroad, and their revenues do not enter the state budget. It is a deliberate tampering intended to plunder the State’s crude oil resources in a way that is unparalleled in the world. Their revenues would have been sufficient to cover the salaries owed to public service employees.
  11. Oil derivatives ships continue to be prevented from docking at the port of Hodeidah by the Saudi-led Coalition of War on Yemen, despite obtaining pass permits from the United Nations.

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