Aggression-Led Government raises external debt to $ 9 billion for the current year 2019
The economic war waged by the aggression countries and their mercenaries on Yemen had a big impact on the national economy.Recent economic reports revealed that the external debt of Yemen increased from 6 billion and 765 million dollars in 2014 to 9 billion dollars this year 2019, while net domestic debt rose from 3 trillion to About 6 trillion riyals, representing 94% of the gross domestic product.
According to the data of the issued reports, the net public debt due (internal and external) to Yemen in the second half of this year 2019 increased by 41% to 10 trillion and 401 billion riyals, compared to 6 trillion and 563 billion riyals at the end of the year 2014.
The reports added that despite the stability of the absolute value of the external public debt below $ 7 billion during the years from 2014 to 2017, it increased by two billion dollars due to the Saudi deposit in 2018.
Consequently, the ratio of external public debt to GDP increased from 22% in 2014 to 77% last June 2019.
Many economists and experts believe that one of the reasons for increasing the internal and external debt is for the bank in Aden printing of paper currencies from various groups with more than 1 trillion Yemeni riyals without cover, which caused an increase in the money supply and created inflation that reflected on the high levels of poverty and the deterioration of the standard of living.
In light of these malicious plans to destroy the national economy, the Sana’a Salvation Government has put in place many precautionary and preventive plans to counter these schemes, by prevented any trading or possession of the illegal currency which seriously harms the national economy.
As well as to compensate the “private” citizens who were deceived by other than “merchants, banks and money changers” with electronic cash or the legal national currency for what they have in the illegal currency “according to the approved ceiling” by allowing them to deliver them within 30 days from December 19, 2019, to the nearest center For e-wallet agents,
The government also called on all components of society to contribute positively to protecting the economy and the value of the national currency from collapse and maintaining the exchange rate, in a way that contributes to the stability of commodity prices.
SH.A.