Yemeni Businessmen Club Launches first Annual Economic Report

Yemeni Businessmen Club Launches first Annual Economic Report

SANA'A- Feb 23, 2011- The Yemeni Businessmen Club launched on Wednesday the economic report 2010 at a press conference in the capital Sana'a.

_­At the conference, chairman of the Club's board of directors Ahmed BaZarah said the report was the first annual report by the Club and came as a follow-up to the economic essays issued in 2009.

The objective of the report was an objective analysis including the viewpoint of the Club towards the economic and investment environment through presenting issues and suggesting solutions to problems, he said.

Furthermore, the report reviewed big challenges facing the national economy and proposed solutions that can help overcome these challenges within the comprehensive national reform agenda, added BaZarah.

"The report highlighted the most important future trends for Yemen's continuous participation in drawing up policies and proposing solutions to different problems topped by economic challenges," he said.

"It also presented a detailed vision of the situation of external trade and investment in Yemen as well as the cash and banking situation, with a special focus on free trade zones on which Yemen pins hope to achieve sustainable economic and social development."

In addition, the report highlighted challenges that faced Yemen's economy in the last year topped by oil depletion, expanding expenditures, the state budget deficit, soaring rates of unemployment and poverty, the population growth and water dwindling and scarcity, he concluded.

Source: Saba