Yemen..Economic journalist warns of rising inflation rates and calls on the government to limit its repercussions

A Yemeni journalist specializing in economic affairs warned of the high rates of inflation in the country and its effects on the lives and livelihoods of citizens, calling for urgent government intervention to limit its repercussions.

Economic journalist Wafiq Saleh said, “The national currency crisis leads to high inflation rates, which in turn erodes savings, wages and salaries, eliminates citizens’ purchasing power, weakens markets and doubles poverty and unemployment rates.”

In a post on the X platform, monitored by the editor of "Yemeni Youth Net", he stressed the need to reduce the level of inflation as a top priority for the government and monetary and financial policy makers in the country.

The national currency crisis leads to high rates of inflation, which in turn erodes savings, wages and salaries, eliminates citizens’ purchasing power, weakens markets and doubles poverty and unemployment rates.

Therefore, reducing the level of inflation should be a top priority for the government and monetary policy makers…

— Wafeeq Saleh (@wafeeqpress) September 8, 2024

Saleh expressed his surprise at the Presidential Council's inability to stop the deterioration of the national currency for such a long period, and the failure to put in place any solutions or practical measures to address the problem of the currency's collapse and achieve economic and living stability.

He added: "Do the members of the Presidential Council and the government feel the effects of inflation on the lives of citizens, the instability of the prices of goods and services, and the undermining of the stability of living in the country in general?"

The country is experiencing a difficult humanitarian and living crisis, with the collapse of the national currency, which has reached record levels against foreign currencies for several months, amid the government’s inability to develop economic solutions to stop this collapse and achieve economic stability.