Republic of Yemen: 2007 Article IV Consultation: Staff Report; Staff Supplements; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Yemen

Author: International Monetary Fund

Volume/Issue: Volume 2007 Issue 334

Publication date: September 2007

ISBN: 9781451840810

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Inflation , Economics- Macroeconomics , Public Finance , Business and Economics - Statistics , ISCR , CR , government , Yemen , debt , price , inflation outlook , drive inflation , private sector import activity , Sta balance of payments statistics mission , net amount , UN Security Council resolution , Inflation , Balance of payments statistics , Oil , gas and mining taxes , Global , Middle East

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Summary

This 2007 Article IV Consultation highlights that despite recent progress in poverty reduction, Yemen remains far from achieving the Millennium Development Goals. Oil production has been declining since 2000, and in the absence of major discoveries, proven oil reserves could be depleted in some 10 years' time. Economic performance in 2006 was generally favorable, but was accompanied by an increase in inflation. Overall real GDP growth reached 4 percent in 2006, with a 6 percent non-oil growth offsetting an 8 percent decline in oil production.