News Column

Yemen seeks EU, WB support to maintain fiscal sustainability

June 24, 2014



 

SANA'A, June 24 (Saba) - Finance Minister Mohammed Zemam discussed here on Tuesday with European Union's (EU) ambassador to Yemen Bettina Muscheidt aspects of EU support to Yemen.



The discussion focused on the assistances the EU provides to Yemen in the institutional, financial and economic reforms and to cover the gap in the State's budget.



The Minister hailed the EU's support for Yemen's economy in various fields, expressing hopes that the EU would increase its support to maintain the fiscal and monetary stability in the country in the light of the current economic challenges.



He also reviewed the financial situation and difficulties of maintaining the fiscal sustainability as well as the measures adopted by the Ministry to cover the public budget's gap.



On the other hand, the Finance Minister held talks with World Bank's Country Manager for Yemen Wael Zakout over the bilateral cooperation, particularly with regard to the institutional reforms and fiscal and monetary stability.



Zemam reviewed the government's difficulties in the economic and financial areas, expressing the Finance Ministry's priorities and trends to achieve the fiscal sustainability through redressing the existing imbalances between budget's resources and expenditure.



He stressed the Ministry's keenness to benefit from the WB's experiences in carrying out the institutional reforms to achieve the highest possible competence in using and developing the state's public resources.



HA/AF

Saba


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Source: Yemen News Agency


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