Republic of Yemen: 2008 Article IV Consultation: Staff Report; Staff Statement and Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Yemen
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Summary:
Recent economic performance in Yemen has been mixed. A sharp decline in oil production, coupled with inflexible government expenditure and only marginal improvement in the tax-to-GDP ratio led to an overall fiscal deficit of 5.8 percent in 2007. Executive Directors have noted that Yemen’s non-oil GDP growth has been solid in recent years, and progress has been made on a number of structural reforms. Directors have welcomed the authorities’ commitment to reduce expenditure in the event that oil prices remain below the benchmark price in the 2009 budget.
Series:
Country Report No. 2009/100
Subject:
External debt Foreign exchange Inflation Oil prices Prices Public debt
English
Publication Date:
March 24, 2009
ISBN/ISSN:
9781451840834/1934-7685
Stock No:
1YEMEA2009001
Pages:
61
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