Maeen: We have stopped printing and issuing currency and we expect an increase in revenues by about 40%
English - Monday 25 April 2022 الساعة 12:21 pm
Aden, NewsYemen, special:
Prime Minister Maeen Abdul-Malik revealed that there is a stock of printed currency at the Central Bank in Aden, which was prevented from being pumped by the government to stop the collapse of the riyal.
In his response to the report of the Parliamentary Committee in charge of reviewing the government's program, Maeen confirmed that he had directed the suspension of currency printing contracts since he took over the government in late 2018, and that new quantities are still being held in the bank in Aden to prevent the currency's collapse.
Maeen responded to the criticism of his government's performance, and said that it had succeeded in stopping the currency collapse without any external support. He revealed the expectations of the Minister of Finance in the Bin Daghr government and the former bank governor that the US dollar would reach 2,000 Yemeni riyals in late 2018 due to currency printing.
Pointing out that 2020 was a year of complete collapse due to the crisis of the Corona epidemic, addressing the deputies: Don't you ask how we preserved the state until we reach today? Pointing out that the government succeeded in 2021 in reducing the budget deficit from 54% to 30%, and that it expects this year to increase revenues by 40%.
Maeen revealed, in the context of his response to the MPs' remarks, that there are discussions between the government and the American and French sides to re-export gas from the Balhaf facility in Shabwa.
The Prime Minister alluded to the existence of requirements by the Americans and the French, as he said that the discussions revolve around the fate of gas revenues and that they be allocated to pay civil sector salaries in all governorates, and what remains is transferred as a cash reserve in the Central Bank.
On the side of economic reforms, the Prime Minister stressed that the new central bank leadership succeeded in tightening the policies of transferring money abroad to ease pressure on the hard currency, "after transferring 100,000 dollars from Aden abroad was easy."
It is worth noting that the Prime Minister’s response was published on the official pages of the Council of Ministers on social media, after the official “Yemen” channel refrained from broadcasting it and broadcast the details of the confidence-granting session and only published an intervention by the head of the Islah bloc, Abdul Razzaq Al-Hijri.
