VOL. XLVI

No 49

8-December-2003

YEMEN

BUDGETS AND REVENUES

Yemen Faces Challenges As It Continues To Push Through Reforms, Says World Bank

In the light of an expected decline in oil production in Yemen starting in 2004 (by an average annual rate of 5%) and the weak outlook for oil prices in the short and medium terms, Yemen faces an enormous challenge to maintain fiscal sustainability, says the World Bank in its Fall 2003 Yemen Economic Update. This will require increased efforts to mobilize...