VOL. XXXV

NO. 33

18-MAY-1992

Financial and Banking News

Budgets & Revenues

Gulf War Legacies Cloud Yemen's Economic Prospects

The Yemeni budget for 1992, a detailed breakdown of which has becomeavailable to MEES, paints an optimistic picture of the country's economicprospects for 1992. The deficit is set to fall by 21% (although it remains high,representing 21% of total expenditure), largely due to an increase in taxrevenues and foreign assistance. Defense expenditure is to be curbed and...