Yemeni government ratifies 1998 budget
Yemen, Economics, 12/9/1997

During its exceptional meeting which was headed by the Yemeni Premier Dr. Farag Said Bin Ghanem, the Yemeni government ratified its budget for the year 1998. The government referred the draft to parliament in order to complete constitutional procedures for its final ratification.

The expenditures in this budget were 350.35 billion Yemeni riyals ($2.6 billion) with an increase of 36.67 billion over last year's expenditures. Revenues are expected to reach 336.583 billion riyals, an increase of 35.361 billion riyals over last year.

Government expenditures on the investment projects reached about 108.180 billion riyals, an increase of 45% of last year. Those expenditures will be dedicated to operating and maintaining the Ministries of Health and Education. The budget also contained a sizable increase for the social fund and the money allocated for the social security network.

The 1997 budget was supposed to be 313 billion riyals, but 12 billion riyals were added last spring, thus the total expenditure became 325 billion riyals, while pubic revenues reached 300 billion riyals. The budget deficit was 2.4 billion riyals.

The budget deficit in 1998 is expected to be about 26 billion riyals with an increase of 3.1 billion in the expected gross national product.

Previous Stories:
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  Arab investment in Yemen heading toward $1 billion   (9/23/1997)

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