No. 63



Yemeni Budget Deficit To Shrink By Over 50% In 1997

The Yemeni budget for 1997, which was approved by the government on 5 December, is projecting a reduction of more than 50% in the budget deficit to YR12bn ($120mn at the current market rate of $1=YR100) from YR25.5bn ($255mn) in 1996. Revenue and expenditure in 1997 are projected at YR301bn and YR313bn respectively, compared to revenue of YR155.9bn and expenditure of YR181.4bn in 1996. The budget still...