Republic of Yemen: Staff Report for the 2004 Article IV Consultation

March 23, 2005

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Republic of Yemen: Staff Report for the 2004 Article IV Consultation, (USA: International Monetary Fund, 2005) accessed December 25, 2024

Summary

This 2004 Article IV Consultation highlights that economic growth in Yemen slowed in 2004 owing to a sharp contraction in the oil sector. Oil production declined by 5.9 percent, reflecting diminishing recovery from aging large oil fields as well as the absence of significant new discoveries. Some progress has been made in structural reforms. The revised General Sales Tax law submitted to parliament in late 2004 included several improvements designed to protect the integrity and simplicity of this tax.

Subject: Commodities, Fiscal policy, Fiscal stance, Oil, Oil prices, Prices, Public debt, Revenue administration

Keywords: Appreciation to the staff, CR, Exchange rate, Fiscal stance, Fuel price subsidy, GDP, Government, Government's attention, ISCR, Liquefied petroleum gas price, Middle East, Oil, Oil prices, U.S. dollar, Yemeni authorities

Publication Details

Pages:

68
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2005/111
Stock No:

1YEMEA2005002
ISBN:

9781451840803
ISSN:

1934-7685

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