Yemen has lost $ 89 billion in economic activity lost since 2015
English - Saturday 28 September 2019 الساعة 04:16 pm
Aden – NewsYemen.net
The Yemeni economy has lost $ 89 billion in economic activity lost since 2015, with the duration of the war increasing, disrupting markets and institutions, and destroying social and economic infrastructure, according to a new international report.
Yemen is in its fifth year of economic collapse as a result of the war and the corruption of its parties. It is experiencing a shortage of food and medicine amid a deterioration in public services, in areas controlled by the legitimate government, and a total absence of public services in the areas controlled by the Houthis for years...
The report, "The Impact of War on Yemen's Development," prepared by the Bardi Center for International Contracts at the University of Denver, for the United Nations Development Program, obtained by "New Yemen," that the per capita GDP fell from $ 3577 to $ 1950, a level not seen in Yemen Since before 1960.
Yemen is now the world's second largest unequal country in terms of income, with more than 100 countries exceeding inequality levels in the past five years, according to the second in a three-part series exploring the impact of war on Yemen's development.
The war affected actual and potential economic growth, eradicating gains from physical and human capital losses and internal displacement, fragmentation of financial institutions, the flight of national capital and the brain drain.
The losses lost in the Yemeni economy were real GDP, public revenues, cumulative missed opportunity in total foreign reserves, opportunity cost to state and welfare employees due to salary cuts since the end of 2016, and domestic and foreign direct investment.
Losses in Yemen's economy and per capita income are likely to grow unless peace is achieved.
