VOL. XLIII

No. 51

18-December-2000

YEMEN

Yemen Approves $3Bn 2001 Budget

Like most of its richer GCC neighbors, Yemen is adopting a cautious approach to the windfall created by increased oil prices and has approved a budget for 2001 projecting a 25% rise in revenues to YR487.8bn ($3.049bn) but only a 17% rise in expenditures to YR501.9bn ($3.14bn). This austerity should lead to a reduction in the countrys total deficit to 1.4% of GDP compared to 3% the previous year, even though the rise in...