The government forms a ministerial committee to study the draft economic rescue plan and resubmit it within two weeks

The Yemeni Council of Ministers announced, on Thursday, the formation of a ministerial committee headed by the Minister of Finance to study the draft economic rescue plan, absorb the comments submitted on it, and resubmit it to the Council within two weeks.

This came during an extraordinary meeting held today, Thursday, in the interim capital, Aden, headed by Prime Minister Dr. Ahmed Awad bin Mubarak, according to the Yemeni News Agency "Saba".

The meeting was devoted to discussing economic, financial, monetary, service and living developments, most notably exchange rate fluctuations, challenges related to electricity, and evaluating the level of government plans to deal with them.

The Council reviewed the draft economic rescue plan, to enrich it with discussions and comments to develop it and align it with the government programs and policies currently being implemented in the field of reforms, in preparation for its approval and submission to the Presidential Leadership Council.

The Council of Ministers held an extensive discussion to evaluate the plan, which in a number of its aspects is consistent with the main paths of the government’s priorities, namely completing the restoration of the state, ending the coup, achieving peace, combating corruption, enhancing transparency and accountability, in addition to financial and administrative reform, developing economic resources, and optimally employing foreign aid and grants and directing them according to government needs and priorities.

The Council approved the formation of a ministerial committee headed by the Minister of Finance and including the Ministers of Planning and International Cooperation, Industry and Trade, Electricity and Energy, Transport, Civil Service and Insurance, Oil and Minerals, the Central Bank of Yemen, the General Secretariat of the Council of Ministers, and the Prime Minister’s Office, to study the plan, absorb the comments submitted on it, and resubmit it to the Council within two weeks from its date for discussion and taking the necessary action.

He tasked the committee with harmonizing the plan with the government’s program, the reform matrix, the economic recovery plan, the sectoral plans of the ministries, and other policies that the government is working on, determining priorities, what has been achieved, and the requirements for implementing the plan, and producing a unified economic document that will be relied upon in the work of the state and government according to urgent priorities.

The Council of Ministers stressed the need to identify challenges in line with reality and changes, and ways to address them in an appropriate manner, as well as the shared responsibility and duties between the government and the Presidential Leadership Council.

The Council members' discussions focused on the importance of the plan taking into account the causes of the catastrophic economic situation exacerbated by the terrorist Houthi militia's attacks on oil facilities and international shipping lines, and identifying the aspects of support required from Yemen's development partners from donor countries and organizations.

The ministers stressed the need to identify the policies that have been implemented and are being worked on, which were included in the plan, the challenges and obstacles that prevented the implementation of some of them, and proposals for treatment.

The Council of Ministers reviewed reports from the concerned ministers on the existing problems in supplying power stations with fuel in the interim capital, Aden, the efforts made to overcome them, and the urgent measures taken to develop solutions to achieve relative stability in electricity service and the continuity of water supplies to citizens.

In this regard, it was confirmed that emergency quantities would be provided to power stations and that work is underway to secure additional quantities to ensure stability of the service. The Council directed the Ministers of Water and Electricity to coordinate to secure the needs of operating water wells, from electricity and fuel necessary to continue pumping, and to avoid stopping water supplies to citizens in Aden.

The Council of Ministers listened to briefings on the results of the campaigns to seize violating exchange shops and currency speculators in Aden and the liberated governorates, and to control the prices of goods and price manipulators to mitigate the repercussions on the livelihood and lives of citizens, stressing the continuation of the campaigns and coordination between the security agencies and the competent judicial authorities in this regard.