New report reveals government's priorities during 2009, 2010

SANA'A, Jan.11 (Saba) - A new economic report issued by Ministry of
Planning and International Cooperation revealed government's
determination to implement a package of proceedings and treatments
aiming to motivate and increase the rates of economic growth during
2009 and 2010.

The report stressed on availing from the potential opportunities in
the non-petroleum economic sectors, speeding up in finishing donors'
commitments for the development projects and starting process of
implementation which will represent a priority in the government's
work agenda during this year and upcoming year as well as
encouraging works of exploration and extraction in fields of oil
and minerals in new areas and promoting for investments in the areas
which the initial geology surveys proved the existence of commercial
quantities of oil there .

The report also pointed that the government is to prepare for
implementing a national strategy for availing from the local
economic opportunities, particularly Aden Free Zone, other economic
sources and improving the infrastructure which serve the economic
and investment activities .

The report indicated that the most highlighted governmental
treatments which the government determine to apply for confronting
the sharp decline in the oil prices globally are represented in
applying a backing financial policy to reduce prices in Yemen
through controlling the local cash on hand by Central Bank of Yemen
(CBY) and reducing rates of cash offering so as to serve the growth
of local real income .

It also pointed to improving machineries of the financial policy and
developing foreign currencies market, upgrading the internal
payments system, revising the current financial policy in its
different directions so as to motivate investments and production as
well as balancing between the investment and operational expenses
and reducing the need to open extra credit in the general budget .