Parliament approves 2012 general budget

SANA'A, April 16 (Saba) - The parliament approved on Monday the State's general budget for the fiscal year 2012.

In its session chaired by parliament speaker Yhaya al-Rae'i and in the presence of the prime minister and government's members, the parliament voted in favor of the 2012 general budget of over YR 2.1 trillion.

The parliament made various recommendations, which the government has committed to implement.

The government finalized budget's draft and submitted to the parliament on March 06.

The approved general budget estimated at YR 2,111,129,453,000, with a deficit expected to reach over YR 0.5 trillion (nearly YR 561,611,320,000).

Yemen's general budget for 2011 was amounting to over YR 1.5 trillion with a deficit estimated at YR 316.4 billion.

Moreover, the parliament agreed to form a joint committee form the parliament and the government to study the diesel price.

The government announced on April 04 new prices for oil derivatives in the Yemeni local market, increasing the diesel and kerosene's prices up to YR 100 per liter, while the gasoline liter price was cut to YR 175.