A rise in food prices ... the collapse of the currency crushes families in liberated areas
English - Monday 15 March 2021 الساعة 09:17 am
Aden, NewsYemen, Exclusive:
The collapse of the national currency, the riyal, has led to a rise in foodstuffs in the recently liberated governorates, causing the crushing of middle-income and poor families alike.
The rise in foodstuffs is due to the failure of the riyal, as it used to collapse and then improve.
Instead of the dollar dropping to 800 riyals and less in the past months, it is recording an increase, which results in the increase in foodstuffs little by little, and the water bottle, known for its large size in Aden, is 150 riyals, instead of 100 riyals.
A fish seller in Khor Maksar District, Aden, complained during his interview with NewsYemen about the people's reluctance to buy, saying that the demand for fish is weak, and that many families are no longer able to buy.
For his part, the economist Majid Al-Daari told "NewsYemen" that there are no solutions or possibilities for stabilizing the exchange at any level or borders, and with the continuation of the various crises and the state’s inability to find any solutions or treatments, all possibilities increase with a further collapse in the exchange rate and override All temporary stability limits.
Al-Daari considered that the demand for foreign currency controls the exchange rates, not the state or the supposed monetary policy of the Central Bank and the state’s supervisory role on the banking market.
Although the salaries of employees are no longer sufficient to provide for the needs of their families, their absence makes it more difficult to live.
On Saturday, the Presidium of the Transitional Council called on the government of parity to take into account the difficulty of the living situation and the collapse of the currency’s value, and its implications for the sources of income of civil and military employees, stressing the urgent need to increase the salaries of these two segments according to reasonable rates corresponding to the size of the decline in the currency's value.
