IMF Staff Country Reports

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 September 18, 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:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2009/100

  • Stock No:

    1YEMEA2009001

  • ISBN:

    9781451840834

  • ISSN:

    1934-7685