President Dr. Rashad Muhammad Al-Alimi, Chairman of the Presidential Leadership Council, chaired a meeting on Wednesday, May 8, 2024, in Aden, with members of the council: Abdul Rahman Al-Mahrami, Prime Minister Dr. Ahmad Awadh bin Mubarak, Central Bank Governor Ahmad Ghalib, Foreign Minister Dr. Shai’ Al-Zindani, and Finance Minister Salim bin Brik, in the presence of the Head of the Economic Team, Husam Al-Shargabi, virtually.
The meeting dealt with some vital economic and financial issues, including a review of economic and institutional performance indicators during the past period. The meeting also discussed the approved spending plan to meet the state’s obligations, including ensuring the regular payment of employee salaries, improving basic services, and prioritizing providing the necessary petroleum derivatives to operate power plants in Aden and some Yemeni governorates.
The meeting listened to a presentation by the Prime Minister, the Central Bank Governor, and the relevant ministers and officials, which addressed the economic situation, service performance, and the steps required to improve the state’s access to its sovereign resources.
A report was also reviewed on the financial and monetary situation, and the coordinated policies between various government agencies to mitigate the repercussions of Houthi attacks on oil facilities and international shipping lines, as well as their destructive effects on the banking sector and their catastrophic impact on exacerbating the humanitarian crisis at various levels.
During the meeting, President Al-Alimi and a member of the council stressed the importance of doubling government efforts to fulfill the state’s inevitable obligations, proceed with comprehensive reforms, and strengthen the role of the Central Bank and the Ministries of Foreign Affairs and Finance in mobilizing regional and international support.
Holding this high-level meeting confirms the leadership’s keenness to address the economic and financial challenges facing the country, especially in light of the exceptional circumstances it is going through. The importance of concerted government efforts to ensure the continued provision of essential services to citizens and enhance the state’s ability to confront crises. The meeting’s focus on the spending plan and the plan to access sovereign resources is an indication of the Yemeni government’s awareness of the need to adopt a responsible approach to managing public funds and improving revenue collection efficiency. It also highlights the importance of the role played by the Central Bank and the Ministries of Foreign Affairs and Finance in enhancing international cooperation and attracting external support to strengthen the Yemeni economy.
