Al-Zindani reveals details of the new Saudi support and its impact on the Yemeni economy
Yemeni Foreign Minister and Minister of Expatriate Affairs, Dr. Shaya Mohsen al-Zindani, affirmed that the new Saudi support represents a fundamental pillar for strengthening the performance of the Yemeni government and enabling it to fulfill its obligations to citizens under the exceptional circumstances the country is experiencing. In statements to the Asharq Al-Awsat newspaper, al-Zindani explained that this support is not limited to the financial aspect, but also carries profound political implications, confirming the Kingdom of Saudi Arabia's continued support for the legitimate Yemeni government and the Presidential Leadership Council.
This statement comes at a time when the Yemeni economy is facing unprecedented challenges, resulting from the halt in crude oil exports, the main artery of the state budget, following attacks by Houthi militias on export terminals in Hadramawt and Shabwa. This situation has placed immense pressure on public finances and led to a rapid decline in the value of the national currency (the Yemeni rial) against foreign currencies, negatively impacting citizens' purchasing power and the prices of basic commodities.
In the context of the historical relationship, Saudi Arabia has long been Yemen's primary supporter. Over the years, it has provided a series of financial deposits to the Central Bank of Yemen in Aden, which have directly contributed to curbing inflation and preventing the complete collapse of the currency. In addition to these deposits, the Saudi Development and Reconstruction Program for Yemen plays a pivotal role in improving infrastructure by implementing vital projects in the health, education, energy, water, and transportation sectors, projects that directly address the daily needs of Yemeni citizens.
This step is of paramount importance both locally and regionally. Locally, the new support will enable the government to secure the fuel needed to operate power plants, pay public sector salaries, and ensure the continuity of essential services. Regionally and internationally, this support sends a reassuring message to the international community and donors that the Yemeni government has strong backing that enables it to withstand economic and political challenges, thus enhancing the prospects for peace and stability in the region.
Al-Zindani concluded his remarks by emphasizing that the strategic partnership between Yemen and the Kingdom is the safety valve for restoring the state and its institutions, noting that the government is working diligently to translate this support into tangible reforms that citizens can feel in the various liberated governorates, thus contributing to alleviating the humanitarian suffering left by the long years of war.
