Republic of Yemen: Staff Report for the 2004 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2005 Issue 111

Publication date: March 2005

ISBN: 9781451840803

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Labor , Economics- Macroeconomics , Public Finance , Industries - Energy , ISCR , CR , exchange rate , government , GDP , U , S , dollar , Yemeni authorities , fuel price subsidy , appreciation to the staff , government's attention , liquefied petroleum gas price , Oil , Oil prices , Fiscal stance , Middle East

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Summary

This 2004 Article IV Consultation highlights that economic growth in Yemen slowed in 2004 owing to a sharp contraction in the oil sector. Oil production declined by 5.9 percent, reflecting diminishing recovery from aging large oil fields as well as the absence of significant new discoveries. Some progress has been made in structural reforms. The revised General Sales Tax law submitted to parliament in late 2004 included several improvements designed to protect the integrity and simplicity of this tax.