Council member Al-Zubaidi emphasizes the need to regulate revenue processes and ensure resource deposits to the central bank.

Financial Oversight Emphasized by Presidential Council Member

ADEN, Yemen – In a crucial meeting held on Saturday, Major General Aidarus al-Zubaidi, a member of the Presidential Leadership Council, stressed the importance of the Ministry of Finance exercising its full legal authority. He called for strict regulation of revenue processes and the organization of tax collection in accordance with the law. Al-Zubaidi also highlighted the need to prevent any illegal tax collection and to monitor entities that fail to remit their revenues to the Central Bank.

Meeting Highlights

During the meeting in the temporary capital of Aden, al-Zubaidi engaged with Deputy Minister of Finance Hani Wahab. The Deputy Minister provided a comprehensive overview of the current financial situation and the measures the ministry has implemented. These measures aim to ensure that revenue-generating institutions comply with directives to deposit their resources into the government’s general account at the Central Bank. This compliance is essential for maintaining the liquidity required to pay state employee salaries.

Addressing Economic Challenges

The discussion also covered the outcomes of the ministry’s delegation participation in the 12th Paris Forum, organized by the French Ministry of Finance. Al-Zubaidi and Wahab explored potential strategies to avoid accumulating external debt and mitigating its financial repercussions. This conversation comes amid ongoing economic challenges facing the country.

Conclusion

The meeting underscored the critical role of financial governance in Yemen’s economic stability. By reinforcing legal frameworks and ensuring compliance, the Ministry of Finance can significantly contribute to the nation’s financial health and support public sector employees.

For more updates, visit Yemen TV.

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