Yemeni President ratifies 1998 budget

The Yemeni President Ali Abadalla Saleh issued 5 decrees that would link the 1998 budget with the sectors of religious possessions, pensions, private funds and economics.

The decrees estimated the revenues of the budget at 236.5 billion riyals ($2.7 billion) while the expenditures were estimated at 350 billion riyals, which means that the budget deficit is estimated at 13.4 billion riyals.

The Yemeni Tagamoua Reform Party led by the parliament's speaker, Abdalla Al Ahmar, criticized the 1998 budget, he pointed out that the budget will deepen the poverty and increase the suffering of the Yemeni people with higher prices.

A statement issued by the Parliamentary coalition of the Reform Party said that the parliament should return the budget to the government to correct its severe shortcomings.

The members of the Tagamoua Reform Party refused to vote for the budget saying that it will increase prices of food, oil derivatives, electricity, water and telephone service.