Expert: Inflation is expected to rise by 25% in 2019
English - Wednesday 13 March 2019 الساعة 09:53 am
Aden - NewsYemen.net
The financial analyst Ahmed Salem Shammakh predicted a 25% rise in inflation this year in the event of the collapse of the Stockholm agreement, including a level of the Yemeni exports at current levels and the decline in foreign exchange earnings.
"Yemen's current exports do not cover the import bill, which requires foreign exchange, the dollar, the devaluation of the national currency and the restriction of the goods movement internally among provinces and externally to and from Yemen, all of which pressure the exchange rate," Shammakh told New Yemen.
The Yemeni national currency lost its value again, and the price of the dollar approached the threshold of Y.R 600, down from about Y.R 400, a level the national currency recovered part of its value amid pumping a large amount at the Central Bank of Yemen paid by the Kingdom of Saudi Arabia in 2018, reducing demand for foreign currency and easing pressure on the exchange rate.
