Yemeni Government: Budget Deficit Reaches 50%

The internationally recognized Yemeni Prime Minister Maeen Abdul Malik announced on Monday that the budget deficit currently ranges between 40 to 50 percent, noting that the state's revenues have been severely affected by the Houthi targeting of oil ports in the south and east of the country late last year. He added in a press conference in the city of Aden, "The spending volume in the first half of the year is 1.1 trillion riyals (1.595 billion dollars), and it is now approximately 1.3 trillion riyals, while revenues were around 600 billion riyals in the first half." He confirmed that the deficit in the country's general budget has nearly reached between 40 to 50 percent, a significant jump from 20 percent last year. He stated, "Nevertheless, the government is working hard to maintain the situation of services and currency amid the economic war." Currency traders in Aden reported that the dollar price reached 1450 riyals on Monday, up from 1300 at the beginning of last month.