No 3



Yemen Budget Deficit To Widen 29% To $366Mn In 2003

Yemen has passed a budget for 2003 which forecasts a deficit of YR64bn ($365.9mn), an increase of 28.6% from the countrys budgeted deficit of YR49.8bn ($284.6mn) in 2002. This represents some 3% of GDP. The deficit has hovered around this mark since 1997 and represents a dramatic improvement on the troubled first half of the 1990s which saw the deficit at around 14.5% of GDP in 1994. Yemen even saw a realized...