Neutralize Yemeni Economy from War and Conflicts
(Not Edited) At the seminar organized by Economic Observatory for Studies & Consultancy in cooperation with Chamber of Commerce and Industry in Sana’a and the General Union of Chambers of Commerce and Industry today, professor Yahya Almutawakel chairman of Economic Observatory confirmed the responsibility for maintaining the Yemeni society from collapse and the continuum of its flowing is one of the basic functions of the civil society organizations and the private sector and therefore the need to look for ways to limit the downturn faced by the Yemeni economy and its current risks.
He added that the aim of the seminar is to provide realistic approaches to adapt Yemeni economy with the economical war requirements and maintain a minimum sustainability of the national production system and provide the necessary conditions for that, in addition to the adoption of procedures and measures for economic (fiscal aspects, monetary policy and the banking sector, and internal and external trade) so that Yemen's economy maintain its balance between the civilian routine expenses and the developmental requirements, as well as to ensure terms of sustainability of the national production to its minimum.
In seminar six presentations were presented, the first presentation included the concept and the entrance to economy under conflicts presented by economics professor at Sana’a University Dr. Taha Alfusail, while the second display estimates the economic and social losses of the war and conflicts during the period 2011-2015 which was reviewed by the economist Mr. Nabil Al-Tairi, the third presentation discussed the "Monetary policies under the current economic situation” presented by, Mr. Ahmed Hajar Assistant Undersecretary for planning and Statistics, on the Ministry of Finance.
Fourth presentation presented by Mr. Abdulmajeed Al-Batuly which was about neutral fiscal policy, while the fifth presentation included the implications of war on foreign trade by economic researcher Mr. Kamal Al-Khameri. The last topic has focused on the humanitarian situation and the effect of neutralizing the economy and its main role to its recovery, which was introduced by Ms. Eiman Sharian.
All presentations showed the size of war damage on national economy and analyzing the key indicators before and after the war and made several proposals in the financial, monetary and productive aspects.
It also provided a definition for the concept of economical war, main issues and matters covered regarding the situation in Yemen, with an assessment of expected economic losses (both direct and indirect, soft and hard) because of war in Yemen and the recommended procedures and practical measures in the aspects of: public finance, monetary policy, the banking sector and internal and external trade.
- Mar 02, 2016