VOL. XXXII
NO. 33
22-MAY-1989
FINANCIAL AND BANKING NEWS
BUDGETS AND REVENUES
North Yemen's Petro-Spending Triggers Payments Crisis
In its first full year as an oil exporter, North Yemen has spent rather morethan it earned and has consequently recorded a sharp deterioration in itscurrent account deficit.
Export revenue - mainly comprising crude oil from the Marib/Jawf concession- increased ninefold in 1988 to YR4.4bn ($447mn), including oil revenues ofYR3.9bn ($397mn) earned from the export of its...
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