Today, Tuesday, the legitimate Yemeni government admitted that the riyal has fallen by 180 percent against foreign currencies, since the coup of the Houthi militia against constitutional legitimacy and the state in 2014.
At the beginning of the annual meetings of the World Bank Group, by default, Minister of Planning and International Cooperation, Dr. Waed Badeeb, with the Regional Director for Egypt, Yemen and Djibouti at the World Bank Marina Wess, and the Country Director of the Yemen Office at the World Bank, said that “the value of the national currency fell against foreign currencies to about 180% of its value, and the accompanying rise in prices, a deterioration in the standard of living, and a decrease in the average income of the individual, who lost about 60% of its value.
He pointed out that Yemen has lost more than 90 billion dollars during the past seven years, according to preliminary estimates, as a direct loss in its domestic product, in addition to losses resulting from the destruction of large parts of the infrastructure due to the war.
He pointed out that the crises facing the Yemeni economy, especially the recurring oil derivatives crisis, had the greatest impact in weakening the various service sectors, especially the electricity and health sector, and the food and humanitarian security crisis, which left about 60% of the population vulnerable to food insecurity and its repercussions of malnutrition and poor productivity. for human resources.
He noted that the Corona virus pandemic negatively affected the economy and plunged it into a deep recession.
This comes after the Yemeni riyal recorded a new decline today in the temporary capital, Aden, and the governorates under the control of the recognized government, reaching about 1,300 riyals against one dollar.