Saudi claims helping Yemen.. what about the losses it caused  for Yemeni economy

By: Zakria Al-Shar’abi

The Kingdom of Saudi Arabia’s ambassador to Yemen, Mohammed Saeed Al Jaber, claimed that the total value of his country’s assistance to Yemen amounted to about $ 17 billion, while his country is fighting a devastating war for more than 5 years against Yemen and caused the worst humanitarian tragedy in the world.

Al Jaber said that his country is the largest supporter of Yemen and it has provided direct support to Yemen since 2012 with $ 7.8 billion, while the value of other projects reached to 10 billion dollars.

Al Jaber’s talk about his country’s assistance to Yemen has raised a lot of irony among the Yemenis. Saudi Arabia While confirming on what Al Jaber said they destroyed everything beautiful in Yemen, and turned the country into hell.

According to independent economic statistics, the direct losses of the Yemeni economy in five years amounted to $ 100 billion, that means six times on what Al-Jabir mentioned that his country presented it to Yemen within eight years.

Away of human losses and the blockade, which has caused a severe humanitarian crisis, described as the worst in the world.

Tomorrow, Saudi Arabia will host a humanitarian conference in the name of helping Yemenis but while hosting this conference, it continues to besiege Yemenis, and to this day, it holds more than 20 food and fuel ships, which Yemenis have imported from their own money.

Detailed statistics of the most prominent losses in Yemeni economy during the Saudi war on Yemen:

  • The deterioration of the national currency exchange rate by 186%
  • Inflation increased to more than 45%
  • Family income rate decreased to 55%,
  • 1.2 million employees represent 22% of workforce deprived, they support about 4.7 million people.
  • Real GDP decreased between 2015 and 2019 to 46.2%, and imports decreased over the same period to the same level.
  • Real income per capita decreased during the period 2015-2019 to 52%.

The decline in the total actual public revenues of the state reached to 71%. The state budget losses in four years exceeded 40 billion dollars. Foreign national income from foreign exchange decreased during 2015-2019, from $ 18.6 billion to $ 8 billion in 2019 by 57%.

The national economy needs more than ten years to rehabilitate it. The value of the GDP losses during the years of the Saudi war amounted to 71 billion dollars.

The opportunity cost in gross domestic product at constant prices for 2010 was about 49.8 billion between 2015 and 2019.

The fishery sector incurred more than $ 5.6 billion in infrastructure losses. The construction sector contracted due to the war by 59.2%, and its losses were estimated at 2.5 million dollars.

The movement of the wholesale and retail sector, which represents 17% of the output, decreased by 47%, and its direct losses were estimated at $ 6.9 billion. The telecommunications sector shrank by 53%.  Its losses estimated to 1.2 billion dollars. The transportation sector shrank by 64%, with losses amounting to 6 billion dollars.

The direct and indirect damages incurred by the agricultural sector in five years reached 16 billion dollars, a decline of 40%.

Oil revenues are supplied by Hadi government to the National Bank of Saudi Arabia, with an estimated a billion dollars annually.

The air strikes destroyed more than 300,000 homes, in addition, thousands of public facilities such as schools, institutes, gyms, hospitals, and various types of infrastructure.

And if these are the losses of the Yemeni economy due to the Saudi war, Yemen remains poor as  reports, testimonies and historical studies confirm because of Saudi guardianship for decades on Yemen and impede its development, supporting the influence tools and corrupt elites to control the decision, because of this, it prevented Yemen from exploiting its natural resources or developing its resources.

Read also: https://www.dailyyemen.net/2020/05/30/ksa-expends-us300-bn-to-bomb-yemen-how-much-did-it-spend-to-save-it-from-epidemics/