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Finance Minister Calls for Tightening Belts to Face Crisis
  Written By:  Fuad Rajeh (YEMEN POST STAFF) 
  Article Date:
December 29, 2008



Minister of Finance Noman Al-Suhaibi mentioned that the measures being followed by the government over the last few days including cutting the estimated expenditures in state budget by 50 percent for 2009 will include all public facilities and economic units as well as the independent and supplement budgets of units.

Al-Suhaibi further mentioned that this cut will cover the presidency office, cabinet, Shoura and parliament councils, judicial authority apparatuses and ministries of defense and interior, security apparatuses, allocations of tribes' affairs and the investment program.

He added that this cut will also cover the allocations and projects of the local authorities which receive central funds and the sums allocated for provinces as well as the monthly pledges. 

In this regard, Al-Suhaibi called on all state apparatuses, at both centralized and decentralized levels, to act positively with the government decisions an and to work for following strict austerity measures in all fields of spending, instead of wasting money at a time of crisis.

He also stressed the importance of coordinating the efforts due to central or local authorities and to work for developing income sources within the applicable laws so the country can stand in the face of the world's financial crisis.

It could be thought of as a call for tightening belts to reduce the burdens of the world financial and economic crisis on the national economy resulting mainly from the drop of oil prices.