Report: Why the Poverty in Yemen rises to 8.5 during this year!

YemenExtra

SH.A.

A report on Yemen’s official Saba News Agency revealed that the poverty in Yemen rises to 8,5 because of war by US-Saudi coalition, while the economic situation did not witness any improvement during the first half of this year 2018.

This report issued by the Center for Studies and Economic Information. This organization specialized in studies and information issues relating to economic matters, said that many difficulties faces the Yemeni people for basic services as (Water, electricity, health and education).

There are 15,7 civilians do not have clean water to drink or any other water to use in a daily life, leading to the deaths of 14,000 Yemeni’ children under the age of five every year.

The report point the medical section is deteriorating faster since the war. Three hundred Health centers were damage totally,65% of centers will close ,while many epidemics have spread like Cholera which has spread in remote and hot areas causing of more than two thousands were death until now.

The volume of food imports declined in the rate of 22%, while witnessed the import of oil derivatives increased 103% .

The Yemeni’ riyal witnessed a significant rise against foreign exchange rates, where the average rises in the exchange rate of the dollar29%.

One of the main reasons for the collapse of the economy is Liquidity crisis in center bank and all other banks, where banks were unable commitment to their customers to buying currencies, so the customers and merchants go to the money exchange companies and the black market. Where currencies are sold at varying prices.

The banks in Yemen face major difficulties in external transfers and dealing with foreign banks because Yemen is classified as a high-risk region, also the central bank cannot do all it basic works as Monetary policy plans, supervision of banks and exchange companies, and managing government accounts at home and abroad.