Yemen needs $16 billion to save its economy
Al-Araby Al-Jadeed wrote that at a time when Yemen has entered a decisive phase to resolve the conflict crisis in the country, the economic situation continues to deteriorate due to developments related to the halt of crude oil exports and lack of transparency in foreign financing.
In its latest report published on April 6, the World Bank predicted that Yemen’s economy would experience a real contraction of 0.5% in 2023.
However, the existing problem is the reconstruction of Yemen’s national economic structure, which is one of the most in need of assistance, with predictions that the country’s need for financial aid will fluctuate between $11.82 billion to $16 billion in 2023 and between $11 billion to $22 billion by 2027.
The World Bank considered Yemen one of the fragile countries due to conflicts and placed it on the list of countries suffering from a severe crisis in the food security sector, with the rate of food insecurity rising from 101% in 2005 to about 99% in 2023.
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