Yemen to lift support for wheat prices, continues reform
Yemen, Economics, 8/25/1998

Yemeni President Ali Abdullah Saleh today announced his intention to lift support for wheat. He added this is the last price increase taking place in the context of the economic reforms Yemen had started since 1995, at the recommendations of the World Bank and the International Monetary Fund.

In a press conference he held in Sanaa, President Saleh was quoted as saying that despite hardships and difficulties the Yemeni people undergo and the damages inflicted on the national economy as a result of previous price increases, he hopes this will be the last price increase.

In earlier statement, the governor of the Yemeni central bank Ahmad al-Samawi said that economic reforms in Yemen have started to bear fruit.

Meanwhile, the works of the Yemeni national conference for administrative reform and development started today in Sanaa and will last for five days under the auspices of President Saleh.

The minister of state for Cabinet affairs and head of the preparatory committee Motaher El-Seaidi said the conference will discuss 91 reports that focus on five essential pivots concerning methods of reform, efficiency of taking decisions, evaluating elements of corporation building within the process of reform, stimulating the environment for the private sector and transparency of the administrative and the financial systems.

He added that the conference is considered an important strategic step for reforming the administration in Yemen, focusing on identifying errors and shortages while creating the necessary resources for fixing it.

Elsewhere, the director of the World Bank for the Middle East said on Monday that the World Bank (WB) will provide Yemen with financial aid to compensate for the deficit in its budget which has increased since the reduction in oil prices during this year.

The WB chief added that the Yemeni government has implemented a program aimed at improving "public expenditure monitoring, following the recession in oil prices." He added, "By approving this program, I hope we will be able at last to ensure the necessary financial capacities to meet the discrepancy in the development budget."

He indicated the "very good" performance of the Yemeni economy, adding that WB aid to this country for the three coming years will be at least equal to aid provided to it between 1995-1998, estimated at US $360 million.

Previous Stories:
  Russian delegation to Sanaa today   (7/15/1998)
  Oil, wheat prices increase in Yemen causing riots   (6/20/1998)
  Japan reschedules Yemeni debts   (6/18/1998)

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