Yemen approves 1.5 trillion budget for 2009

The Cabinet, during an extraordinary session held last Wednesday and presided over by PM Dr. Ali Mohammed Mujawar, endorsed the country’s budget which would apply on both a central and decentralized level. It included independent and annexed budget drafts, the special funds, and the economic units for the year 2009. It will now be referred to parliament for the completion of constitutional procedures.  

The net total deficit for the general budget in 2009 will be 7.37 percent of the total gross domestic product.  The cabinet recommended the net deficit should not exceed at implementation the determined conditions for economic reforms.
Regarding the independent annexes and special funds for 2009, the draft law rated the sources and usage of the unified accounting system affiliates at YR 347 billion, 512 million, 638 000. The   government’s account system affiliate units are rated at 32 billion, 148 million and 408 000.

The Minister of Finance reviewed the general budget draft basis, which depended on substantial revenue estimation and the reconsideration of the financial and administrative systems to secure expenditure rationalization, increasing revenues and financial behavior monitoring in conformity with the comprehensive reform program objectives. It also took into consideration observation of the investment program, local authority decentralization, financial and administrative support.

It focused on the 30 percent increase of operational expenditures over 2008 in implementing the President's electoral program and the execution of the National Local Governance Strategy.

The cabinet focused on the entry of recourses and expenditure, curtailing new projects, giving priority to financing already implemented projects. It gave special attention to socially feasible project with large financial returns, which contribute to adding net revenues to the overall and partial levels.

The budget ensured the continuation of the implementation of the National Wage Strategy, focusing on the relationship between production and wages, and cleaning the pay sheet of duplicated and fallacious jobs.

The Cabinet entrusted the Prime Minister and the Finance Minister to prepare the 2009 budget statement, with the appropriate general trends which include the necessary explanations of the issues which are likely to be raised over the drafts.

The Cabinet commended the technical team from the Finance Ministry, the Planning and International Cooperation Ministry, the Civil Service Ministry and the Central Bank of Yemen, who prepared the approved general budget.

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