Yemeni GDP to reach 7.6 % in 2010

Annual Economic Report Draft–2009 predicted on Saturday the Yemeni Gross Domestic Product (GDP) at constant prices will reach nearly 7.6 percent in 2010 due to a full operation of Liquefied Natural Gas (LNG).

The draft report issued by the Ministry of Planning and International Cooperation indicated that the economic growth in Yemen will witness a significant improvement in 2010.

The statistical forecasts showed that non-oil economic sectors’ contributions to the Real GDP will reach 85.4 percent in 2010 – 2012, while the contributions of the oil and gas sectors will drop 1.7 percent down to 14.6 percent, according to the report.

During launching the draft report, Deputy Prime Minister for Economic Affairs and Minister of Planning and International Cooperation Abdul-Karim al-Arhabi accented the government’s keenness on improving the quality of the evaluation reports on economic developments in Yemen issued by the ministry.

He also pointed to the importance of the effectual reaction of private sector and Civil Society Organizations (CSOs) with the ministry’s economic evaluation reports.

The 2009 draft report has presented an inclusive and detailed presentation for the future trends for Yemeni economy in the lights of the current and expectant changes to assist in making suitable economic policies, al-Arhabi said.