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

March 24, 2009

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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, (USA: International Monetary Fund, 2009) accessed November 23, 2024

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.

Subject: External debt, Foreign exchange, Inflation, Oil prices, Prices, Public debt

Keywords: Adjustment scenario, CR, Debt, Deficit, Global, Inflation, ISCR, Oil, Oil price, Oil prices, Private sector credit growth, Staff appraisal, Staff projection, WEO oil price baseline

Publication Details

Pages:

61
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2009/100
Stock No:

1YEMEA2009001
ISBN:

9781451840834
ISSN:

1934-7685

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