Middle East Economic Survey
VOL. LIII
No 8
22-Feb-2010
YEMEN
Declining Oil Revenues A Challenge To Yemens 2010 Budget
Yemens economy relies heavily on oil revenues, which account for 70-75% of public revenue and more than 90% of export earnings. According to the International Monetary Fund (IMF), the heaviest impact on Yemen from the global recession has come through lower oil prices. A significant decline in government oil exports was due to lower production, combined with the...
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