The Finance Minister discusses economic updates and their broader implications with the UN envoy’s economic advisor.

In a meeting held today in the temporary capital of Aden, Minister of Finance Salem bin Breik engaged with Dirk Jan Omztzigt, the economic advisor to the United Nations envoy to Yemen, along with his accompanying delegation. The discussion focused on recent economic developments and their implications for public services and the living conditions of citizens.

U.S. Designation of Houthi Militias

During the meeting, which included key officials such as the Undersecretary of the Ministry of Finance for Budget Affairs, Mokhtar Al-Sharahi, and the Undersecretary for Foreign Relations, Dr. Nasr Al-Harbi, the conversation highlighted the recent decision by the U.S. government to classify the Iran-backed Houthi militia as a “Foreign Terrorist Organization.” This designation aims to address the ongoing economic warfare waged by the Houthis against Yemen and its people.

Economic Impact of Houthi Actions

The meeting also addressed the significant negative effects of the Houthi militia’s continued economic aggression, particularly their blockade on crude oil exports. These exports account for approximately 65% of the state’s general budget, creating substantial challenges for public finances. The blockade has deepened humanitarian suffering and reduced the quality of essential services available to citizens. The discussion emphasized the need for smooth supply chains for trade and humanitarian aid, alongside regional and international efforts to achieve peace in Yemen.

Importance of International Support

The participants underscored the importance of continued support from friendly nations and partners to assist the government in implementing comprehensive reforms. They acknowledged the pressing challenges facing public finances and the need to improve various conditions, especially in service delivery and living standards. The goal remains to stabilize and enhance the national economy while mitigating the worsening economic crisis and rising food insecurity.

Government Efforts and Challenges

Minister bin Breik updated attendees on the latest economic and financial conditions, detailing the government’s efforts to address public finance challenges amid the current difficult circumstances. He praised the U.S. decision to classify the Houthi militia as a “Foreign Terrorist Organization” and expressed gratitude for the support from allied nations in improving overall conditions.

He pointed out the severe repercussions of halting crude oil exports due to Houthi attacks on vital oil export facilities. Bin Breik emphasized the critical need to resume crude oil exports to bolster state resources and sustain public finances. This resumption would enable the government to meet its obligations and fulfill its national responsibilities in confronting economic challenges, combating corruption, and providing services to citizens.

UN Economic Advisor’s Remarks

In response, the UN economic advisor expressed appreciation for the government’s efforts to stabilize the economic situation and improve service and living conditions for the Yemeni people. The ongoing dialogue highlights the collaborative approach needed to navigate Yemen’s complex economic landscape and work towards a more stable future.

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