A report from the Studies and Economic Media Center (SEMC) has revealed that basic commodity prices surged by 25% during the first quarter of 2016 compared to the same period last year. The report, ” Yemen : Economic Indicator .. First quarter of 2016 ” issued By SEMC , highlighted that Taiz topped the list of Yemeni governorates in terms of price hikes that averaged 45% , followed by Hodeida at 27%, then Aden , Hadhramout, Mareb and Sana’a. It noted that the blockade imposed on Taiz since 2015 has left tragic impacts on the city, indicating that some 10,000 families living in the metropolis do survive on two meals a day. 800,000 people in Taiz are suffering from a lack of fresh, healthy water, with 95% of the city’s hospitals out of service, according to the report. It indicated that many banks and exchange firms didn’t honor the agreement signed with the Central Bank of Yemen (CBY), maintaining that businessmen still purchase much-needed hard currencies from the black market. It pointed out the crippling dollar crisis coupled with the erosion of cash reserve, with expatriate remittances serving as the sole source of foreign cash. It explained that as many as 31 companies, factories and hospitals were targeted during the first quarter of the year by Arab coalition air strikes, or heavy shelling by Houthi and pro-Saleh forces. The production of local pharmaceutical companies has also dwindled by 5% , and Some 800 contracting companies ceased their operations, with about 1,500,000 workers losing their jobs, it underlined. It further indicated that International organizations which were in receipt of 1.89 billion dollars have become unable to reach out to war-affected residents in the governorates of Taiz, Sa’ada, Hajja, and Al-Baydha. The distribution of aid delivered by international aid agencies was marred by corruption and favoritism, and was totally controlled by de facto authority of the Houthis, SEMC report concluded. The full report from Her
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