Yemen monitor / news room
Saudi Arabia announced on Sunday that it has transferred 250 million USD to the internationally recognized Yemeni government, as the second installment of a grant of 1.2 USD billion announced last summer that aims to control the budget deficit in the Yemeni economy.
The Saudi ambassador to Yemen, Mohammed Al Jaber, wrote on the X-site “”the second installment of the grant to address the budget deficit of the Yemeni government has been transferred to the Central Bank of Yemen in Aden, to support salaries, wages, operating expenses and food security.
For its part, the Saudi Press Agency “WASS” said that the transfer of the second batch of a grant to Yemen came at the direction of Saudi King Salman bin Abdulaziz and Prince Mohammed bin Salman, Crown Prince and prime minister, to support the economic reforms carried out by the Yemeni government.
Also pointed out that the new grant will contribute in improving the stability of the living situation of Yemeni citizens, building the capabilities of the Yemeni government, implementing the economic reform programs, and enhancing the capabilities of the Central Bank of Yemen by activating monetary policy tools.
The agency pointed out that Saudi Arabia deposited in 2012 one billion USD, and in 2018 two billion USD in the account of the Central Bank of Yemen to cover the import of basic food commodities (wheat grains, wheat flour, rice, milk, cooking oil, sugar).
The former Saudi depository also contributed in reducing the prices of oil derivatives by about 36% during 2019, and the average cost of the lowest Food Basket decreased by about 16% in 2018 maintaining its stability until the end of 2019, as well as the decline in prices of imported food commodities by about 19% after reaching its peak in October 2018.according to the agency.
For his part, the new Yemeni Prime Minister, Ahmed Awad bin Mubarak, expressed his great appreciation for the transfer of the second installment of the Saudi grant to support the budget of Yemen, stressing that this installment and the previous generous Saudi support gives a boost of hope and sends a message of love and solidarity to the Yemeni people.
