Yemen transformed its entire economy into an informal economy

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1. A country where macroeconomic policy is suspended.

2. A state without an economic program for the government and without any strategic economic programs and plans.

3. A state without a state budget.

4. This means that we are a country whose fiscal policy is broken.

6. A state 80% of its tax revenues go to Sana’a and did not move a resident for the sixth year in a row.

7. A country that lacks any real economic indicators that decision makers, researchers and scholars rely on to address its economic problems. The indicators of the financial policy are out of order, the indicators of the public debt are multiplied, the figures for the balance of payments and the trade balance are incorrect, the figures for exports and imports are incorrect, and the indicators of monetary policy, liquidity and money supply are incorrect.. etc., especially with the financial and monetary division existing in the country.

8. A state whose monetary policy is stalled, and most of its instruments until now are in Sana’a. The legal reserve on deposits is managed from Sana’a, the credit policy is managed from Sana’a, and the bulk of public debt instruments are managed from Sana’a.

9. A country that finds it difficult to manage liquidity and money supply efficiently, with a division and control (or mostly disruption) to Sana’a for most of the monetary policy tools, cash management, and the monetary base…etc.

10. A state that does not control the banking system, all the elements of control, oversight, and office and field supervision are still in Sana’a.

11. A country in which most bank jobs were disrupted and moved to money changers in light of the inability to monitor and control them and subject them to its supervision.

In light of this situation, it is difficult to manage the economy in the country, and any patchwork measures or treatments that jump on these facts are like those who plow in a sea.

Unfortunately, great efforts are being made for reform, while greater efforts are being made to disrupt a dysfunctional group or lobby that belongs to the same legitimacy.



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