Int'l financial crisis impact on Yemen limited

SANA'A, Oct. 09 (Saba) - Deputy Finance minister Abdullah
al-Mukhlafi affirmed on Thursday that Yemen has not much effected by
the international global financial crisis that hit Europe and
America.

In a statement to the 26 September website, al-Mukhlafi made it
clear that the limited U.S. investments in Yemen and lack of a stock
market would make the negative consequences on Yemen are very
limited.

Dropping the oil prices in the global market and depreciation of the
dollar internationally might impact the Yemeni economy with little
damage as Yemen depends basically on oil exports (90 to 95%).

Al-Mukhlafi called upon the concerned authorities in the Finance
Ministry and the Central Bank of Yemen (CBY) to conduct studies to
know potential consequences of the international financial crisis on
the Yemeni economy in the coming period.