DUBAI: Yemen’s government faces challenges due to a 10 percent decline in the country’s gross domestic product over the past year, as well as the deterioration of state revenues by more than 65 percent, Yemen’s ambassador to Washington has said, according to Saudi state news agency SPA.
The statement was made during a meeting organized by the Yemeni embassy in the US, where Ambassador Ahmed Awad bin Mubarak reviewed the latest economic and humanitarian developments in the country.
Mubarak pointed out that the steps taken by the government to address these challenges and economic imbalances will come through reform packages, which include allowing the import of petroleum products, liberating the exchange rate, and signing a number of economic agreements with the World Bank, Saudi Arabia, and several other countries.
The Yemeni ambassador explained the government’s efforts to address imbalances in the financial sector and stimulate the private sector through measures that will raise government resources and support the country’s basic imports.
Yemen’s ambassador to Washington says country faces challenges due to low GDP
Yemen’s ambassador to Washington says country faces challenges due to low GDP
Morocco’s energy ministry puts gas pipeline project on hold
- The country’s natural gas demand is expected to rise to 8 billion cubic meters in 2027 from around 1 bcm currently, according to ministry estimates
RABAT: Morocco’s energy ministry said on Monday it has paused a tender launched last month for a gas pipeline project, without giving details on the reasons for the suspension.
The tender sought bids to build a pipeline linking a future gas terminal at the Nador West Med port on the Mediterranean to an existing pipeline that allows Morocco to import LNG through Spanish terminals and supply two power plants.
It also covered a section that would connect the existing pipeline to industrial zones on the Atlantic in Mohammedia and Kenitra.
“Due to new parameters and assumptions related to this project... the ministry of energy transition and sustainable development is postponing the receipt of applications and the opening of bids received as of today,” the ministry said in a statement.
Morocco is looking to expand its use of natural gas to diversify away from coal as it also accelerates its renewable energy plan, which aims for renewables to account for 52 percent of installed capacity by 2030, up from 45 percent now.
The country’s natural gas demand is expected to rise to 8 billion cubic meters in 2027 from around 1 bcm currently, according to ministry estimates.
