The Chairman of the Leadership Council meets with the Prime Minister and the Economic Team’s Head and Deputy.

On Sunday, President Rashad Mohammed Alimi, head of the Presidential Leadership Council, convened a meeting at the Maasheeq Palace in Aden. He met with Prime Minister Ahmed Awad bin Mubarak, Head of the Economic Team Hossam Al-Sharjabi, and Deputy Head of the Team Othman Al-Hadi. The main focus of the meeting was to address the current economic, financial, and monetary conditions in Yemen.

Strategies to Combat Inflation

During the session, Prime Minister bin Mubarak provided an update on the evolving economic landscape. He outlined proposed interventions aimed at stabilizing the national currency and mitigating the adverse effects of price fluctuations on living conditions and essential services. The meeting emphasized the need for coordinated efforts among authorities to curb inflation and strengthen the national currency.

Fighting Smuggling and Supporting Local Industries

The discussion also highlighted the urgent need to combat smuggling in all its forms. Participants stressed the importance of enforcing laws that encourage the active role of relevant agencies at vital entry points. They called for enhanced measures to protect national products and industries, ensuring their competitiveness in the market.

Addressing Budget Deficits and Currency Speculation

The meeting outlined a series of necessary measures to tackle the public budget deficit. Participants discussed strategies to deter currency speculators, manage import costs, and monitor the money supply effectively. They also emphasized the importance of empowering law enforcement agencies to support the Central Bank’s independence and its legal policies in managing the banking sector.

Commitment to Economic Rescue Plan

President Alimi reiterated the urgency of implementing the economic rescue plan. He expressed concern over the economic divide caused by the Houthi militia, which is backed by the Iranian regime. Furthermore, he praised the support provided by Saudi Arabia, the United Arab Emirates, and other regional and international partners. Their assistance plays a critical role in helping the Yemeni government meet its obligations, particularly in paying salaries, securing essential goods, and ensuring a decent standard of living for millions of Yemenis across the country.

This meeting underscores the Yemeni government’s commitment to addressing economic challenges and working towards stability in the region.

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