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Poverty in Yemen is increasing because of Saudi aggression


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Poverty in Yemen is increasing because of Saudi aggression

Post by rocky on Wed 13 Sep 2017, 3:05 am

[size=30]Poverty in Yemen is increasing because of Saudi aggression[/size]
13/09/2017 10:15 | Number of readings:
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Trend Press / Agencies
A report by Yemen revealed a high rate of poverty among the population to 85%, while the economic situation did not see any improvement during the first half of this year because of the war in Yemen.
The report by the Center for Studies and Economic Information, a Yemeni civil society organization specialized in studies and information issues related to economic issues, said that there are a number of difficulties faced by people in Yemen in access to basic services of water, electricity, health and education, where 15.7 million people For drinking water and wastewater, resulting in the death of 14,000 Yemeni children under the age of five each year.
He added that 90 per cent of the population did not have access to public electricity, especially in the areas controlled by the Houthi and Saleh groups, while some areas controlled by the legitimate government are improving the electricity services, such as the governorates of Aden, Hadhramout and Marib / south and east of the country from time to time.
The report pointed out that the health sector has deteriorated significantly since the outbreak of the war. About 300 health facilities were destroyed and 65 per cent of the health facilities had to stop working. Cholera has spread widely in Yemen and has caused the death of more than 2,000 people so far.
He pointed out that the volume of food imports during the first quarter of this year decreased by 22% while the import of oil derivatives increased during the same period by 103% compared to the first quarter of last year.
According to the report, food prices rose by 35 percent in the first half of this year and oil derivatives by 19 percent compared to the first half of last year.
He pointed out that the prices of foreign currencies against the Yemeni riyal witnessed a significant increase during the first half of this year, where the average rise in the exchange rate of the dollar 29% compared to the same period last year.
The report reviewed the most prominent crises that hinder the growth of the economy in Yemen, including the liquidity crisis as one of the most important economic challenges that compounded the difficulties faced by the banking sector, as Yemeni banks failed to meet their obligations to customers and traders resorted to exchange companies and the black market to buy what they need of currencies .. That the failure to pay the salaries of employees for about a year is one of the most important economic constraints in Yemen, especially in areas controlled by the Houthi and Saleh, in addition to some cities controlled by the Yemeni government, especially the city of Taiz south of the capital Sana'a.
He added that the Yemeni banks face great difficulties in foreign remittances and deal with foreign banks because of the classification of Yemen as a high risk zone. The ineffectiveness of the Central Bank and its basic functions of monetary policy, supervision of banks and banks and managing government accounts at home and abroad are also prominent. Economic Constraints in Yemen.

    Current date/time is Fri 20 Jul 2018, 7:15 am