Yemen’s ambassador to Washington says country faces challenges due to low GDP

DUBAI: Yemen’s government faces challenges due to a 10 percent decline in the country’s gross domestic product over the past year, as well as the deterioration of state revenues by more than 65 percent, Yemen’s ambassador to Washington has said, according to Saudi state news agency SPA.
The statement was made during a meeting organized by the Yemeni embassy in the US, where Ambassador Ahmed Awad bin Mubarak reviewed the latest economic and humanitarian developments in the country.
Mubarak pointed out that the steps taken by the government to address these challenges and economic imbalances will come through reform packages, which include allowing the import of petroleum products, liberating the exchange rate, and signing a number of economic agreements with the World Bank, Saudi Arabia, and several other countries.
The Yemeni ambassador explained the government’s efforts to address imbalances in the financial sector and stimulate the private sector through measures that will raise government resources and support the country’s basic imports.