| Date - Field | Yemen - Economy - overview |
2008 January
Economy - overview | Yemen, one of the poorest countries in the Arab world, reported average annual growth in the range of 3-4% from 2000 through 2007. Its economic fortunes depend mostly on declining oil resources, but the country is trying to diversify its earnings. In 2006 Yemen began an economic reform program designed to bolster non-oil sectors of the economy and foreign investment. As a result of the program, international donors pledged about $5 billion for development projects. In addition, Yemen has made some progress on reforms over the last year that will likely encourage foreign investment. Oil revenues probably increased in 2007 as a result of higher prices. |
2007 January
Economy - overview | Yemen, one of the poorest countries in the Arab world, reported average annual growth of 3.5% from 2000 through 2006. Its economic fortunes depend mostly on oil. Oil revenues probably increased in 2006 as a result of higher prices. Yemen was on an IMF-supported structural adjustment program designed to modernize and streamline the economy, which led to substantial foreign debt relief and restructuring. However, government dedication to the program waned in 2001 for political reasons. Yemen is struggling to control excessive spending and rampant corruption. Yemen is dependent on foreign aid to finance its budget deficits and development projects. In November, Yemen secured $4.7 billion in assistance from Arabian Gulf and Western donors. |
2006 January
Economy - overview | Yemen, one of the poorest countries in the Arab world, has reported strong growth since 2000, but its economic fortunes depend mostly on oil. Yemen has embarked on an IMF-supported structural adjustment program designed to modernize and streamline the economy, which has led to substantial foreign debt relief and restructuring. Yemen has worked to maintain tight control over spending and to implement additional components of the IMF program, but a high population growth rate and internal political dissension complicate the government's task. Plans include a diversification of the economy, encouragement of tourism, and more efficient use of scarce water resources. |
2005 January
Economy - overview | Yemen, one of the poorest countries in the Arab world, has reported strong growth since 2000, but its economic fortunes depend mostly on oil. Yemen has embarked on an IMF-supported structural adjustment program designed to modernize and streamline the economy, which has led to substantial foreign debt relief and restructuring. Yemen has worked to maintain tight control over spending and to implement additional components of the IMF program, but a high population growth rate and internal political dissension complicate the government's task. Plans include a diversification of the economy, encouragement of tourism, and more efficient use of scarce water resources. |
2004 January
Economy - overview | Yemen, one of the poorest countries in the Arab world, reported strong growth in the mid-1990s with the onset of oil production, but has been harmed by periodic declines in oil prices. Yemen has embarked on an IMF-supported structural adjustment program designed to modernize and streamline the economy, which has led to substantial foreign debt relief and restructuring. International donors, meeting in Paris in October 2002, agreed on a further $2.3 billion economic support package. Yemen has worked to maintain tight control over spending and to implement additional components of the IMF program. A high population growth rate and internal political dissension complicate the government's task. Plans include a diversification of the economy, encouragement of tourism, and more efficient use of scarce water resources. |
2003 January
Economy - overview | Yemen, one of the poorest countries in the Arab world, reported strong growth in the mid-1990s with the onset of oil production, but has been harmed by periodic declines in oil prices. Yemen has embarked on an IMF-supported structural adjustment program designed to modernize and streamline the economy, which has led to substantial foreign debt relief and restructuring. International donors, meeting in Paris in October 2002, agreed on a further $2.3 billion economic support package. Yemen has worked to maintain tight control over spending and implement additional components of the IMF program. A high population growth rate and internal political dissension complicate the government's task. |
2002 January
Economy - overview | Yemen, one of the poorest countries in the Arab world, reported strong growth in the mid-1990s with the onset of oil production, but has been harmed by periodic declines in oil prices. Yemen has embarked on an IMF-supported structural adjustment program designed to modernize and streamline the economy, which has led to substantial foreign debt relief and restructuring. Aided by higher oil prices in 1999-2000, Yemen worked to maintain tight control over spending and implement additional components of the IMF program. A high population growth rate and internal political dissension complicate the government's task. |
2001 January
Economy - overview | Yemen, one of the poorest countries in the Arab world, reported strong growth in the mid-1990s with the onset of oil production, but was harmed by low oil prices in 1998. Yemen has embarked on an IMF-supported structural adjustment program designed to modernize and streamline the economy, which has led to foreign debt relief and restructuring. Aided by higher oil prices in 1999-2000, Yemen worked to maintain tight control over spending and implement additional components of the IMF program. A high population growth rate of nearly 3.4% and internal political dissension complicate the government's task. |
2000 January
Economy - overview | Yemen, one of the poorest countries in the Arab world, reported strong growth in the mid-1990s with the onset of oil production, but was harmed by low oil prices in 1998. Yemen has embarked on an IMF-supported structural adjustment program designed to modernize and streamline the economy, which has led to foreign debt relief and restructuring. Aided by higher oil prices in 1999, Yemen worked to maintain tight control over spending and implement additional components of the IMF program. The high population growth rate of 3.4% and internal political dissension complicate the government's task. |
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This page was last updated on 23 July, 2008 |
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