VOL. XLV

No 45

11-November-2002

YEMEN

Yemen Adopts $21/B Oil Price Assumption For 2003; Indonesia Revises Upwards To $22/B

The Yemeni cabinet has approved a draft budget for 2003 which forecasts a deficit of YR64.1bn ($363mn) based on an oil price assumption of $21/B. Budget spending is forecast at YR668.4bn ($3.79bn) with revenues at YR604.3bn ($3.42bn). The budget must now be approved by parliament and President 'Ali 'Abd Allah Salih before it goes into effect.Yemen produces 450,000 b/d of...