Finance Ministry details Yemen wealth loss
The Yemeni Ministry of Finance reveals that the effects of the blockade imposed by the Saudi-American regime on Yemen over the course of 12 years have significantly worsened the economic and living crises. This has led to the loss of millions of job opportunities, an increase in public debt to approximately $15 billion, and delays in the execution of about 40,000 developmental and service projects valued at around $7.5 billion. These issues have impacted the lives of millions of people and pushed poverty rates up to 85%. Additionally, the restrictions of the blockade have harmed the import and maritime transportation sectors, forcing Yemen to bear fines reaching up to $30 billion, causing a 40% decline in gross domestic product (GDP), and raising inflation to 30%. The material and economic damages resulting from the plundering of resources and control over vital sources are estimated at about $130 billion. The ministry emphasizes that lifting the blockade and restoring the looted wealth could significantly reduce poverty levels and greatly boost economic growth.
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