World Bank says Yemen faces significant economic hardships caused by continued Houthi blockade on oil exports

Health Minister: We Aim to Leverage Chinese Expertise in Developing Health Sector in Yemen

Minister of Public Health and Population Dr. Qasem Buhybeh has called for establishing a hospital in Yemen that offers traditional Chinese medicine services alongside modern medical services.

Splendour of "Hellenistic Gold” Exhibition Showcases Rare Treasures from Bulgaria’s Sakar Region

A major new exhibition titled “The Splendour of Hellenistic Gold: The Ruler of Sakar” has opened at Bulgaria’s National Archaeology Museum in Sofia, bringing to light some of the most exquisite artifacts ever discovered in the country’s southeastern Sakar region.

U.S. federal debt exceeds $37 trillion

The federal debt of the United States has continued to rise, reaching $37.005 trillion, an increase of $6.3 billion, continuing the rapid upward trend of the debt, which shows no signs of slowing down.

Uganda and South Africa beat Niger and Guinea in the African Nations Championship

Uganda defeated Niger 2-0 in their Group C match at the African Nations Championship, currently being held in Uganda, Kenya, and Tanzania.

Last Update: ، 2025/08/16 Time 07:21:26
Latest News:

Aircraft "Kingdom of Awsan" arrives Aden International Airport

President al-Alimi Congratulates on Korean National Day

President al-Alimi Congratulates on the Anniversary of India's Independence

Supreme Council of Energy endorses plans to improve electricity services

Marib Deputy Governor discusses enhancing humanitarian partnership with UNDP, UNICEF

World Bank says Yemen faces significant economic hardships caused by continued Houthi blockade on oil exports

[01/11/2024 05:14]

ADEN - SABA
The World Bank said that Yemen is facing significant economic hardships caused by the continued Houthi blockade on oil exports.

According to the World Bank’s latest Yemen Economic Monitor (YEM) this blockade contributed to a 42 percent drop in fiscal revenues for the Internationally Recognized Government (IRG) in the first half of 2024, preventing it from providing essential services to the population.

The suspension of IRG oil exports, combined with a heavy reliance on imports, has intensified external pressures, leading to a depreciation of the Yemeni Rial in the Aden market from 1,619 per US dollar in January 2024 to 1,917 by the end of August
According to the report, "the conflict has as pushed most Yemenis into poverty, while food insecurity has reached historic levels, with over 60 percent of the population now facing inadequate access to food."