Yemeni economy grows at 4.5 percent in 12 years

The government’s economic reforms have helped to achieve positive results including taming inflation from a 36 percent average rate between 1990-1994 and 11.8 percent in 2001 -2007. The government reported that average economic growth between 1995-2007 was at a rate of 4.5 percent.  

Additionally, the report said that the general budget decreased its deficit from 14.6 of GDP in 1994, to a rate not exceeding 3 percent on average between 1995 and 2007. The report said that the balance of payments deficit was also controlled, from 14 percent in 1994 to below 1 percent between 2001- 2007.

The report pointed to the developments in different sectors including expansion of essential services, banking sector development and improvement in national economic infrastructure. 

The report said that the government seeks to provide an environment which is attractive to all sorts of investments, encouraging all efforts of regional and international cooperation. 

The 1995 governmental economic reforms aimed at mending all financial, fiscal and administrative defects in order to achieve economic stability, lift foreign trade restraints, provide a national exchange rate and a free interest rate. It also aimed at the state’s administrative restructure and the modernization of financial and monetary systems, in order to integrate the national economy into the international economy.

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