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Last updated: 11:48:52 PM GMT(+03) Sunday, 20, January, 2013
 
 

Yemen's 2013 Budget Is Approved By Parliament

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Despite previous reservations the Parliament approved on Saturday Yemen's 2013 budget, making state officials breath a sigh of relief.

The budget , which was passed by the Cabinet last month - December - stands now at $12.9 billion - YER2.77 trillion - and will focus on getting Yemen out of its current economic crisis by pouring funds into development programs and the stabilization of its institutions.


Parliamentarians initially rejected the Cabinet's proposal by arguing the transition government was driving Yemen into a financial abyss with a projected deficit of YER682 billion - $300 million - Politicians however dismissed the Parliament's concerns over Yemen's financial solvability saying the General People's Congress - which still holds the majority at Parliament - was only trying to punish the transitional government by roadblocking every single of its move, perverting the rule of law.


On Wednesday January 16th, 2013 President Abdo Rabbo Mansour Hadi called on an extraordinary meeting with Parliamentarians and Cabinet members urging all parties to put aside political divisions for the sake of the nation, calling on all to resolve Yemen's issues united.


Officials close to the matter told the Yemen Post President Hadi wanted to avoid a repeat of last year's debacle when Yemen 2012 budget's approval by Parliament was delayed well into April 2012.

 

 

 

 

 

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