WB Advises Yemen [Archives:2000/41/Business & Economy]
October 9 2000
Increase Non-oil Exports
In a statement published in Al-Fanar by the free zone, the WB called Yemen to increase its non-oil exports from 3% to 20%. The statement said that Yemens balance of payments would achieve a total surplus of 11.2% of the gross domestic product against a 4.3% deficit in 1998.
The increase was attributed in the statement to increase in oil prices and oil production to 440 thousand barrels a day.
Yemens reserves of hard currency has also increased to USD 1.9 billion decreasing deficit rate from 11% in 1998 to 7% in the current year.
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