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Republic of Yemen - A medium-term economic framework (Inglês)

The Republic of Yemen (Yemen) was formed on May 22, 1990, unifying the Yemen Arab Republic (YAR) and the People's Democratic Republic of Yemen (PDRY). The economy of Yemen will be based largely on the market system. Unification has created greater potential for long-term development than if the two parts were to remain separate. The new country has modest oil and gas reserves, large fishery resources, unexploited tourism potential, a dynamic private sector, and a larger domestic market to achieve a higher degree of economies of scale. Prospects for achieving such potential are clouded by the seriousness of the present macroeconomic imbalances. This report assesses the prospects of the economy on the basis of the present policy stance. Because Yemen is highly dependent on imports for most requirements, its macroeconomic outlook depends a great deal on its ability to pay for imports. Until the advent of oil exports in 1987, Yemen depended principally on workers' remittances, grants and external borrowing for its foreign exchange needs. Oil has reduced the importance of these traditional sources of foreign exchange. Because workers' remittances have been further reduced by the recent regional events, the country's ability to pay for imports has decreased. Due to the serious macroeconomic imbalances and high inflation, a program for economic stabilization should be implemented.

Detalhes

  • Data do documento

    1992/01/31

  • TIpo de documento

    Relatório Econômico ou Setorial Pré-2003

  • No. do relatório

    9172

  • Nº do volume

    1

  • Total Volume(s)

    1

  • País

    Iêmen, República do

  • Região

    Oriente Médio e Norte da África,

  • Data de divulgação

    2010/06/12

  • Disclosure Status

    Disclosed

  • Nome do documento

    Republic of Yemen - A medium-term economic framework

  • Palavras-chave

    foreign exchange;oil;balance of payment;budget deficit;high rates of inflation;oil and gas reserve;current account deficit;Exchange Rates;real interest rate;debt service ratio;foreign asset;wages and salary;taxes on goods;per capita gnp;large budget deficit;interest rate structure;investment promotion law;source of revenue;debt service burden;Public Sector Enterprises;Oil & Gas;economies of scale;expenditures for materials;consumer price index;expenditure wage;per capita income;rapid population growth;domestic saving;remittance;oil reserve fund;rate of inflation;economic growth rate;standard of living;high growth rate;oil exporting countries;newly industrialized country;infrastructure and production;land and water;foreign exchange shortage;foreign oil company;trade and transportation;prices of product;lack of opportunity;current account balance;increase in prices;proven oil reserves;foreign exchange market;order of business;engine of growth;system Accounts;system of accounts;degree of certainty;external debt obligation;gnp per capita;foreign exchange regime;oil export earnings;short-term external borrowing;drop in remittance;increasing tax revenue;inflow of remittance;adult literacy rate;primary school enrollment;foreign exchange speculation;factor of production;parallel exchange rate;fruit and vegetable;increase in debt;official exchange rate;foreign exchange dealer;rise in inflation;negative interest rate;exchange rate change;rates of return;demand for collateral;demand for credit;external debt burden;Public Sector Organizations;foreign exchange control;errors and omission;high oil revenue;public sector institution;export of goods;broad money;commercial bank;public finance;parallel market;oil extraction;conversion rate;Bank Credit;inflationary pressure;current expenditure;monetary growth;resource base;labor requirement;external assistance;monetary expansion;fishery resource;merchandise export;price control;lending rate;national account;external loan;capital spending;import license;government service;budget expenditure;capital expenditure;foreign grants;limited information;foreign currency;high debt;additional revenue;expansionary impact;domestic liquidity;food supply;price movement;customs tariff;budget implication;radical change;oil price;foreign source;recoverable reserve;Product Diversification;express intention;enterprise autonomy;domestic output;real gnp;market principle;essential commodities;reserve position;local market;government borrowing;price change;trading partner;direct credit;investment certificates;short-term debt;import needs;reserve requirement;rising inflation;price liberalization;production base;social indicator;development policy;oil refinery;import duty;budget presentation;refined product;Health Service;fiscal development;separate budget;maximum rate;foreign debt;tourism potential;market system;oil sector;Stabilization policies;government administration;domestic unemployment;large bank;economic stability;linear combination;external aid;integrated development;yemeni rial;aid flow;budget policy;migrant worker;reducing expenditure;macroeconomic projection;short-term loan;policy option;school leaver;rising unemployment;labor-intensive product;money supply;import good;specific duty;ad valorem;government revenue;domestic demand;income flow;long-term debt;border area;commercial capital;gasoline price;Macroeconomic Stability;additional expense;Economic Policy;factor income;defense expenditure;fish product;domestic production;trade deficit;capital account;soft drink;mineral water;external grant;excise tax;cutting expenditures;capital transfer;money changers;trade balance;defense spending;petroleum product;oil companies;private market;investment principal;payment position;import restriction;cumulative effect;resource cost;private capital;crude price;deficit level;government monopoly;resource imbalance;import program;

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