Sunday, 15 August 2010

Yemen will not be able to pay salaries in four years, expert says

By Nasser Arrabyee, 15/08/2010

The Yemeni government would not able to pay the salaries of employees in 2014 if the current economic deterioration continues, said a Yemeni former official and economic expert on Sunday.

“In the light of the current status of economy, the government will not be able to pay the salaries after four years from now,” said the economic expert Mohammed Al Sabri, who was the secretary general of the Yemeni cabinet.

“If the government’s subsidy for the oil derivatives is not lifted and low level of tax and customs collection continues, the investment budget will disappear in two years,” Al Sabri said in an interview with the weekly Al Ahali newspaper.

The government pays about 2.5 billion dollars as subsidy for the oil. The deficit of the general budget is about 2.5 billion dollars. Yemen imports 80 -90 % of the food and non-food commodities, he said.

No comments:

Post a Comment