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Yemen in the 1990s:
From Unification to Economic Reform
Klaus Engers, Sherwyn Williams, Nada Choueiri,
Yuri Sobolev, and Jan Walliser
©2002 International Monetary Fund
May 3, 2002
Preface
List of Abbreviations
- Overview
- External Environment: Politics, Oil, and Debt
Political Developments: Unity, Gulf Crisis,
Civil War,
and Democracy
Yemen's Emergence as an Oil Producer
External Debt
- Macroeconomic Policy During 1990–99
Crisis, Controls, and Stagnation: Macroeconomic
Policies
During 1990–94
Reform and the Return of Stability and Growth
During 1995–99
Preserving the Oil Wealth: A Long-Term View
of Yemen's Fiscal Policy Stance
- Microeconomic Reforms
Foreign Exchange Regime and Foreign Trade Reforms
Tax Reform
Public Expenditure Reform
Reform of the Regulatory Environment
Privatization
Financial Sector Reforms
- Poverty and Social Safety Net Policies
Pensions
The Social Welfare Fund and Other Cash Transfers
The Social Fund for Development
Informal Safety Nets and Development Support
Organizations
- Economic Performance from 1990 to 1999
Growth and Employment
Inflation
Poverty and Social Indicators
Saving, Investment, and External Vulnerability
Annexes
- Tourism Sector in Yemen: Problems and Prospects
- Summary of the Tax System as of end-June 2000
References
Statistical Appendix
Boxes
IV |
1. Reduction of Subsidies, 1995–99 |
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2. The Aden Free Zone |
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3. The Yemeni Banking System |
VI |
4. Accounting for Growth in
the Non-Oil Sector |
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5. The Role of Qat in the Yemeni Economy |
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6. Provisions of Current Labor Legislation |
Tables
Section
II |
1. Selected Economic Indicators, 1990–99 |
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2. Sensitivity to Oil Price Changes, 1990–99 |
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3. Oil-Related Volatility in the Economy,
Compared with
Other Oil Exporters
in the Region |
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4. Balance of Payments, 1990–99 |
III |
5. Central Government Finance,
1990–99 |
IV |
6. Middle Eastern and North African Countries:
Trade Restrictiveness
Rating |
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7. Petroleum Products Prices Compared to World
Market
Levels (March 2000) |
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8. Adjustments in Administered Retail Prices,
1994–99 |
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9. Distribution of Public Employees
by Sector, 1998 |
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10. Regional Comparison of Expenditures on Defense,
Education, and Health,
1994–98 |
V |
11. Social Fund for Development—Accumulated Investment,
Disbursement, Number
of Expected Beneficiaries,
and Job Opportunities,
up to September 30, 1999,
According to Sector |
VI |
12. Macroeconomic Indicators Comparing Pre-Reform
and Reform Period,
1991–99 |
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13. Distribution of Labor Force by Employment Status,
Age Group (+10 Years),
and Gender, 1994 |
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14. Student Enrollment and Graduation from Colleges
and Universities in
1998/99 |
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15. Phasing of Macroeconomic Adjustment, 1990–99 |
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16. Vulnerability Indicators |
Annex
I |
17. Visitor Arrivals and Tourism Revenues
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18. Average Tourism Statistics Since Unification |
Statistical Appendix
A1. Social and Demographic Indicators 1995 and 1997
A2. Selected Economic and Financial Indicators, 1994–99
A3. Sectoral Origin of Gross Domestic Product at Current
Prices,
1994–99
A4. Use of Resources at Current Prices, 1994–99
A5. Sectoral Origin of Gross Domestic Product at Constant
Prices,
1994–99
A6. Distribution of Employment (Age 15 Years and Over)
by Economic
Activity
A7. Distribution of Employment (Age 10 Years and Over) by
Sectors
in Urban and Rural Areas, 1998
A8. Household Income and Expenditure, 1998
A9. Distribution of Population (10 Years and Over) by
Education
Level, Region, and Sex, 1994, 1998
A10. Crude Oil Summary, 1994–99
A11. Oil Exploration Blocks Awarded in 1996–99
A12. Domestic Consumption of Petroleum Products, 1994–99
A13. Output of Industrial Products, 1994–99
A14. Production, Area, and Yield of Major Crops, 1994–99
A15. Noncrop Primary Production, 1994–99
A16. Consumer Price Index for Urban Areas, 1994–99
A17. Domestic Retail Prices for Petroleum Products and Electricity,
1995–2000
A18. Summary of Central Government Finance, 1994–99
A19. Composition of Central Government Revenues, 1994–99
A20. Composition of Central Government Expenditure, 1994–99
A21. Current and Capital Transfers to Public Enterprises, 1994–98
A22. Monetary Survey, 1994–99
A23. Factors Affecting Domestic Liquidity, 1994–99
A24. Balance Sheet of the Central Bank, 1994–99
A25. Balance Sheet of the Commercial Banks, 1994–99
A26. Interest Rates, 1994–99
A27. Distribution of Commercial Bank Credit to the
Nongovernment
Sector
A28. Commercial and Specialized Banks as of December 31, 1999
A29. Indicators of Banking System Financial Soundness, 1997–99
A30. Balance of Payments, 1994–99
A31. Composition of Exports and Re-Exports, 1994–99
A32. Direction of Exports and Re-Exports, 1994–99
A33. Composition of Imports, 1994–99
A34. Sources of Imports, 1994–99
A35. Enterprises Privatized/Liquidated, 1997–99
A36. Enterprises to be Privatized/Liquidated
A37. Social Fund for Development: Total Investment and
Disbursement
up to September 30, 1999
Figures
Section
II |
1. Actual and Projected Crude Oil Production and
Government Share
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2. Republic of Yemen and Selected Comparators:
Crude Oil Exports
and Revenue |
III |
3. Real and Nominal Effective Exchange Rates |
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4. Government Revenue from Oil and Taxes |
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5. Customs Revenue |
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6. Fiscal Balance and Civil Service Wage
Bill |
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7. Interest Rates |
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8. Government Non-Oil Saving and National
Wealth |
IV |
9. Nominal Rial-Dollar Exchange Rates |
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10. Domestic Wholesale Prices of Petroleum Products |
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11. Credit and Currency Ratios |
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12. Money Velocities and Multipliers |
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13. Republic of Yemen and Selected Comparators:
Liquidity and Credit
Ratios |
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14. Republic of Yemen and Selected Comparators:
Money Multipliers
and Credit Indicators |
VI |
15. Composition of Real GDP |
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16. Inflation, Money Growth, and Budget Financing |
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17. Selected Commodity Price Indices |
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18. Republic of Yemen and Selected Comparators:
Dependency Ratios |
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19. Republic of Yemen and Selected Comparators:
Adult Illiteracy Rate |
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20. Republic of Yemen and Selected Comparators:
Life Expectancy at
Birth |
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21. Republic of Yemen and Selected Comparators:
Infant Mortality Rate |
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22. Republic of Yemen and Selected Comparators:
Access to Safe Water |
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23. Saving and Investment |
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Annex |
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24. Visitor Arrivals
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