Oil crisis to hit Yemen

Yemeni President Ali Abdullah Saleh on Monday asked his government to take firm economic measures to reduce the budget deficit, which has escalated due to the recession in oil prices.

In a televised speech on the occasion of al-Adha Eid on Monday, President Saleh said, "I ask the government to tighten its belt and take stern measures to reduce the budget's deficit" in Yemen.

Saleh said the recession in oil prices "will have an adverse impact on the Yemeni economy." He also asked the government to minimize diplomatic missions abroad, and lessen expenditures and unnecessary consumption, al-Nahar reported.