New public budget for Yemen discussed
Over the course of the upcoming two weeks, the Yemeni parliament will discuss the new public budget proposal, which was approved by the local cabinet two days ago.
According to Al-Hayat, the Undersecretary of Finance, Fuad Al-Kamim, asserted that the new budget would coincide with the ongoing administrative, economic and financial reforms. This new budget plan also emphasizes social security, tourism and employment.
The projected spending through this new proposal is assessed at 501,882 billion Yemenite rials (YR). The projected revenues of the new budget are estimated at YR 487,044 billion.
Thus, the budget deficit is expected to reach YR 14.038 billion, which is equivalent to 2.8 percent of the spending and 0.6 percent of the country’s GDP. — (Albawaba-MEBG)