Donor support gives Yemen growth of 1%
English - Sunday 17 February 2019 الساعة 04:45 pm
Aden – NewsYemen.net
The Real Gross domestic product (GDP) growth rate was estimated at 0.8% in 2018, a lower-than-expected 2.5%. For the first time since 2014, economic activity is likely to change positively.
The report of the Economic Developments for 2018, obtained by the Newsyemen that the Economic Growth increased due to the donor support for Yemen to alleviate the humanitarian crisis and calm the exchange rate crisis, including support spending and consumption.
Total donor support for Yemen during the last year was $ 4 billion and 700 million, of which $ 2.44 billion was received by the Yemen Humanitarian Response Plan for 2018 until mid-January 2019.
The remaining amount represents a deposit and a financial grant of $ 2.2 billion to the Central Bank of Aden, $ 60 million per month, of which two payments reached until November 2018.
The economic developments report, issued by the Ministry of Planning and International Cooperation, indicated that the attempt of some residents and economic activities to cope with the repercussions of the ongoing war has contributed to the economic move.
A relative improvement was observed in construction activities, electricity generation and small micro-finance, including the returning of the Austrian OMV to Yemen.
The report attributed the real economic growth rate of 1 per cent and unforeseen 2.5% to the stagnation of economic activity in 2018 due to the escalation of the military operations in many areas, which caused severe damage to physical, human and economic capital and reinforced uncertainty about the future of development in Yemen.
