1. Restructuring Public Finances in Yemen
- Publication Date:
- 10-2019
- Content Type:
- Policy Brief
- Institution:
- Sana'a Center For Strategic Studies
- Abstract:
- Even before the current conflict, Yemen’s public finances suffered from an overdependence on energy exports, one of the lowest tax collection rates in the world, and chronic budget and balance of payments deficits. The government’s consistent operating deficits were funded through domestic debt instruments – drawing investment away from the private sector – borrowing from its own central bank, and foreign loans. Meanwhile, current (or recurring) expenditures dominated government spending relative to capital investments, indicating the state’s poor track record in development initiatives.
- Topic:
- Development, Economics, Tax Systems, Exports, Economic Development, and Capital Controls
- Political Geography:
- Asia, Yemen, and West Asia