Description: Yemen : Economic Monitoring Report

Yemen : Economic Monitoring Report

Decelerating Gross Domestic Product, or GDP growth widening primary non-oil fiscal deficit persisting double digit inflation and rapidly dwindling current account surpluses characterize the weaknesses in the Yemeni economy. Decline in oil productio...

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Bibliographic Details
Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2014
Subjects:	ADVERSE EFFECTS ADVERSE IMPACT AGRICULTURE BALANCE OF PAYMENTS BANK OFFICE BORROWING BORROWING STRATEGY BROAD MONEY BUDGET DEFICIT BUSINESS ACTIVITY BUSINESS COMMUNITY CANCER CAPITAL GOODS CASH TRANSFER CENTRAL BANK COMPETITIVENESS COMPLEX TASK CONSUMER PRICE INDEX CORRUPTION CPI CREDITORS CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT SURPLUSES DAMAGES DEBT DEBT OUTSTANDING DEBT SERVICE DEBT SERVICE RATIO DEBT STOCK DEPOSITS DEVELOPMENT CAPITAL DISBURSEMENTS DOMESTIC PRICES ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC OPPORTUNITIES EDUCATION DEVELOPMENT EMPLOYER ENFORCEMENT POWERS ENROLLMENT ENROLLMENTS EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORT MARKETS EXPORTERS EXPORTS EXTERNAL DEBT FAMILIES FINANCIAL MANAGEMENT FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SUPPORT FINANCIAL SYSTEM FINANCING ARRANGEMENT FISCAL DEFICIT FISCAL POLICY FISCAL REFORMS FISHERIES FISHING FOOD PRICES FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES GDP GDP DEFLATOR GDP PER CAPITA GENDER GENDER EQUALITY GENDER GAP GOVERNMENT BUDGET GOVERNMENT FINANCE GOVERNMENT POLICY GROSS NATIONAL SAVINGS HOLDINGS HUMAN CAPITAL HUMAN RESOURCES ILLITERACY IMPORT DUTIES INCOME INCOME GROUP INDEBTED COUNTRIES INDEBTED COUNTRY INDEBTEDNESS INFLATION INSTITUTIONAL ENVIRONMENT INTEREST PAYMENTS INVESTMENT CLIMATE INVESTMENT REGULATIONS JOB CREATION LABOR FORCE LABOR MARKET LIFE EXPECTANCY MACROECONOMIC MANAGEMENT MARKET PRICE MICROFINANCE MONETARY POLICY NATIONAL SAVINGS NEW BUSINESS OIL OIL PRICE OIL PRICES OIL SECTOR PENSION PENSION FUND POLICY ENVIRONMENT PORTFOLIO PRESENT VALUE PRINCIPAL REPAYMENTS PRIVATE CONSUMPTION PRIVATE CREDITORS PRIVATE INVESTMENT PROFITABILITY PROPERTY RIGHTS REAL GDP REGULATORY ENVIRONMENT REMITTANCE RESOURCE USE SAFETY NET SECURITIES SHORT TERM DEBT SOCIAL FUND SOCIAL PROTECTION SOCIAL SAFETY NET SOCIAL WELFARE SOURCE OF INCOME STRUCTURAL ADJUSTMENT SWAP TAX TAX REVENUES TAX STRUCTURE TECHNICAL ASSISTANCE TERMS OF TRADE TOTAL DEBT TRADE POLICY TRANSPARENCY TRANSPORTATION SERVICES UNDERDEVELOPED FINANCIAL SYSTEM WAGES
Online Access:	http://documents.worldbank.org/curated/en/2005/04/18909782/yemen-republic-economic-monitoring-report http://hdl.handle.net/10986/17686

Description
Summary:	Decelerating Gross Domestic Product, or GDP growth widening primary non-oil fiscal deficit persisting double digit inflation and rapidly dwindling current account surpluses characterize the weaknesses in the Yemeni economy. Decline in oil production is proving to be an important turning point in Yemen s economic development. With the annual growth of GDP projected around percent for the second year in a row Yemen s per capita GDP is set to decline again in 2005. Underlying primary non-oil fiscal deficit continued to widen to 27 percent of GDP in 2004, reflecting the poor resource mobilization efforts. Inflation has persisted near 12 percent annual rate in the last two years and the inevitable revisions to petroleum prices and introduction of general sales tax will call for tighter monetary management to contain inflation in 2005. The buffer of foreign exchange reserves that the government has built to US $ 5 billion from high oil prices by end 2004 (some months of imports equivalent), could only provide a temporary cushion against erosion of current account balance.

Yemen : Economic Monitoring Report

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