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Republic of Yemen: 2008 Article IV Consultation: Staff Report; Staff Statement and Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Yemen

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  • International Monetary Fund

Abstract

Recent economic performance in Yemen has been mixed. A sharp decline in oil production, coupled with inflexible government expenditure and only marginal improvement in the tax-to-GDP ratio led to an overall fiscal deficit of 5.8 percent in 2007. Executive Directors have noted that Yemen’s non-oil GDP growth has been solid in recent years, and progress has been made on a number of structural reforms. Directors have welcomed the authorities’ commitment to reduce expenditure in the event that oil prices remain below the benchmark price in the 2009 budget.

Suggested Citation

  • International Monetary Fund, 2009. "Republic of Yemen: 2008 Article IV Consultation: Staff Report; Staff Statement and Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for ," IMF Staff Country Reports 2009/100, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2009/100
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=22820
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    Cited by:

    1. Ahmed Taneem Muzaffar & Anis Chowdhury, 2014. "The IMF and the policy of low inflation: A review of Article IV consultations for selected Asian developing countries," The Economic and Labour Relations Review, , vol. 25(3), pages 435-454, September.

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