VOL. XXX

NOS. 11/12

22/29-DECEMBER-1986

Financial and Banking News

BUDGETS AND REVENUES

North Yemen Increases Spending in 1987

Buoyed by the prospect of future oilrevenues, the government of the Yemen Arab Republic (North Yemen) announced a1987 budget last week which increases spending by 20% to YR 11.8bn ($1.2bn).Revenue is budgeted at YR8.3bn ($873mn), leaving a budget deficit of YR 3.5bn($368mn), up by 25% from the 1986 deficit of YR 2.8bn.