Sanaa: The Yemeni Ministry of Finance has released a sobering assessment of the economic and humanitarian toll inflicted by the 12-year Saudi-American aggression and blockade.
According to Yemen News Agency, the Ministry's statement details the severe financial and societal impacts, revealing that the overdue salary bill owed to state employees by the coalition exceeds ten trillion riyals, or approximately 18.7 billion dollars. This debt has severely affected the livelihoods of around seven million people, as state salaries are a primary income source for one million families across Yemen.
The statement further highlights the loss of approximately 1.2 million direct and three million indirect job opportunities due to the blockade and plundering of Yemen's sovereign wealth. This economic stagnation has affected 25 million people, exacerbating poverty and unemployment throughout the nation. Additionally, the domestic public debt has surged to eight trillion riyals, equivalent to 15 billion dollars, constraining banks' ability to support crucial economic sectors.
Developmental setbacks are also significant, with around 40,000 projects, including schools and hospitals, stalled due to financial constraints. The Ministry estimates that these projects could have provided essential services to 40 million people and created 2.4 million temporary job opportunities over the past 12 years.
The blockade has also resulted in substantial financial losses from delayed shipments to Yemeni seaports, costing approximately 30 billion dollars. This has contributed to skyrocketing prices for essential goods, further burdening Yemeni citizens. Meanwhile, GDP has contracted by 40 percent, inflation has surged to 30 percent, and the poverty rate has climbed to 85 percent, leaving the majority of families below the poverty line.
The Ministry's statement underscores the devastating loss of revenue from crude oil, estimated at 130 billion dollars, which could have significantly boosted Yemen's economic growth. It calls for lifting the blockade and returning plundered resources, which could create four million job opportunities in a year and reduce poverty rates to 30 percent.
The statement concludes by affirming Yemen's right to compensation and urging the Saudi regime to acknowledge and address the damages inflicted. Beyond the statistics, the suffering of the Yemeni people remains a poignant reality, as families continue to struggle amidst a prolonged crisis.