Middle East Economic Survey
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...