Yemeni Presidential Leadership Council Approves Economic Rescue Plan and Orders Immediate Implementation
Yemen Monitor/Newsroom:
The Yemeni Presidential Leadership Council approved on Tuesday the government’s plan and its executive matrix for economic rescue and recovery, and directed the immediate implementation of the plan in accordance with constitutional and legal references.
During a meeting, the Presidential Council urged the need to incorporate the observations submitted by the economic team and the standards coordinated with the donor community, focusing on containing the general budget deficit, strengthening the position of the national currency, and containing inflation in the prices of basic goods and services.
The Presidential Council affirmed its full awareness of the escalating humanitarian suffering caused by the Houthi terrorist militias and its understanding of the legitimate popular demands for improving living conditions, services, and decent livelihoods.
The meeting was devoted to discussing the latest developments in the political, economic, service, and humanitarian situations, which were exacerbated by the attacks of the Iranian-backed Houthi terrorist militias on oil facilities and international shipping lines.
The Council listened to the government’s plan and its executive matrix for economic rescue and recovery, addressing changes in the exchange rate of the national currency, basic commodities, strengthening protection mechanisms for vulnerable social groups, improving the state’s access to its sovereign resources, fulfilling its imperative obligations, and comprehensive reforms supported by the regional and international communities.
The Presidential Council renewed its deep appreciation for the stances of Saudi Arabia, noting in this regard the Kingdom’s announcement of providing a new deposit to the central bank and another installment of the generous grant to the state’s general budget. It also praised the ongoing arrangements led by Britain to hold an international donors’ conference.
The Council reviewed reports on the executive measures of its comprehensive strategy to address the requirements of the coming phase, focusing on the priority of development, urgent treatments for the economic and service situation, completing the battle to restore state institutions, moving forward on the path of financial and administrative reforms, and efforts to combat corruption and promote the principles of integrity, transparency, and governance.
