Economic Report by SEMC: Prices Escalate as the Rial Slightly Improves

Economic Report by SEMC: Prices Escalate as the Rial Slightly Improves

Prices of basic commodities in Yemen increased by 2% even as the Rial  slight improves.

The Yemen Economy Indicators Report, March 2019 issued by SEMC shows that the Yemeni capital Sana’a witnessed the highest price increase of 5%, followed by Hodeida, Aden and Marib (3%), and Taiz. Hadramout was the only governorate where prices fell (-1%).

The report underscores the ironic discrepancy of commodity prices increase in spite of the  slight improvement of the Yemeni rial in the exchange market. The Report also presents the economic developments in Yemen in March, especially the policies and measures taken by the CBY- Aden, the donors’ conference held in Geneva and commodity price developments.

The report points out the challenges faced by local banks in Sana’a due to some decisions which aim at restricting opening documentary credits in Sana’a and the demands of the Association of Banks to neutralize the banking sector from the conflict.

SEMC monitors the economic and humanitarian developments in Yemen by tracing developments and updating information on commodity and fuel prices, exchange rate, and the humanitarian situation in the context of the war.

SEMC is one of the most prominent Yemeni NGOs that works on, and spreads awareness of economic issues, in addition to buttressing good governance and public engagement in decision making, and working towards the creation of professional media