Publication: Yemen Economic Monitor, Fall 2023: Peace on the Horizon?
Loading...
Other Files
98 downloads
Date
2023-11-08
ISSN
Published
2023-11-08
Author(s)
Editor(s)
Abstract
The Yemen Economic Monitor provides an update on key economic developments and policies over the past six months. It also presents findings from recent World Bank work on Yemen. The Monitor places these developments, policies, and findings in a longer-term and global context and assesses their implications for Yemen’s outlook. Its coverage ranges from the macro economy to financial markets to human welfare and development indicators. It is intended for a wide audience, including policy makers, development partners, business leaders, financial market participants, and the community of analysts and professionals engaged in Yemen.
Link to Data Set
Citation
“World Bank. 2023. Yemen Economic Monitor, Fall 2023: Peace on the Horizon?. © World Bank. http://hdl.handle.net/10986/40591 License: CC BY-NC 3.0 IGO.”
Associated URLs
Associated content
Other publications in this report series
Journal
Journal Volume
Journal Issue
Related items
Showing items related by metadata.
Publication Benin Economic Update, Fall 2014(2014-10)Benin has made substantial progress over the past decade in reinforcing macroeconomic stability, which has laid the foundation for modest but accelerating growth. After averaging less than 3.7 percent from 2007-2011, GDP growth rose to 5.4 percent in 2012 and reached 5.6 percent in 2013. Growth is expected to remain strong at 5.5 percent in 2014. Benin s enhanced growth performance has been supported by ongoing efficiency improvements at the Port of Cotonou, a vital regional trade hub, which have boosted traffic and cut marginal shipping costs. These developments have been complemented by stronger cotton and non-cotton agricultural production, which have been bolstered by favorable weather conditions and relatively effective management of recent cotton campaigns. The weak connectivity between macroeconomic growth and poverty reduction arises largely from the very modest growth of per capita income. In addition, the highly informal nature of the economy, low and declining productivity, particularly in agriculture, and a lack of economic diversification all contribute to the persistence of poverty in Benin. Agricultural growth has been driven by the expansion of cultivated land rather than by increased productivity. Similarly, the increasing size of the national labor force has made a far larger contribution to GDP than have increases in labor productivity. Growth in the formal, salaried labor market remains constrained, and few high productivity/high wage jobs are being created. Strengthening the links between growth and poverty reduction will require boosting productivity, enhancing the business and investment climate, and promoting formalization. In this context, the Benin Economic Update is designed to provide timely analysis of recent developments and contribute to the ongoing dialogue on sound macroeconomic management and effective poverty reduction.Publication South East Europe Regular Economic Report, No. 8, Fall 2015(World Bank, Washington, DC, 2015-09)Economic activity in the six South East European countries (SEE6) is picking up speed, and growth in the region is expected to average 1.8 percent for 2015. The highest growth rates projected are 3.4 percent for Montenegro and 3.2 percent for FYR Macedonia; the lowest is Serbia’s 0.5 percent. Although they trail the rest of the SEE6 region, Serbia and Bosnia and Herzegovina, which were hit heavily by floods in mid-2014, are recovering faster than expected. As 2015 progresses, a recovery in domestic demand is stimulating economic growth throughout the region. Private investment has become the main driver of growth. Developments in the global economy have also helped, especially lower oil prices and a pick-up in demand in the European Union (EU), a major market for the region.Publication Yemen : Economic Monitoring Report(Washington, DC, 2005-04)Decelerating Gross Domestic Product, or GDP growth widening primary non-oil fiscal deficit persisting double digit inflation and rapidly dwindling current account surpluses characterize the weaknesses in the Yemeni economy. Decline in oil production is proving to be an important turning point in Yemen s economic development. With the annual growth of GDP projected around percent for the second year in a row Yemen s per capita GDP is set to decline again in 2005. Underlying primary non-oil fiscal deficit continued to widen to 27 percent of GDP in 2004, reflecting the poor resource mobilization efforts. Inflation has persisted near 12 percent annual rate in the last two years and the inevitable revisions to petroleum prices and introduction of general sales tax will call for tighter monetary management to contain inflation in 2005. The buffer of foreign exchange reserves that the government has built to US $ 5 billion from high oil prices by end 2004 (some months of imports equivalent), could only provide a temporary cushion against erosion of current account balance.Publication EU Regular Economic Report, Fall 2015(World Bank, Washington, DC, 2015-09-01)The European Union (EU) Regular Economic Report (RER), is a semiannual publication of the World Bank Group and covers economic developments, prospects, and economic policies in the European Union. The report uses four sub-groups that share broadly similar development patterns EU : Central Europe comprises Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Slovak Republic and Slovenia; Northern Europe comprises Denmark, Estonia, Finland, Latvia, Lithuania and Sweden; Southern Europe comprises Cyprus, Greece, Italy, Portugal and Spain; Western Europe comprises Austria, Belgium, France, Germany, Ireland, Luxembourg, the Netherlands and the United Kingdom. While the report covers the European Union, it provides additional information on European countries which had historically a stronger operational engagement with the World Bank Group, in particular, Bulgaria, Croatia, Poland and Romania. The focus note of this RER covers “Welfare States and the Protection of the Poor in the European Union”.Publication Yemen Economic Monitoring Note, Fall 2012(World Bank, Washington, DC, 2012)After almost a year of political, economic, and security upheaval, Yemen has now embarked on a new political path based on an agreement brokered by the Gulf Cooperation Council (GCC) and overseen by the United Nations, or UN and the international community. The agreement was signed on November 23, 2011, after former President Saleh, the ruling party (GPC), and the opposition parties agreed to a political transition, dialogue, and political reforms. A transitional government of national unity was formed and confirmed by the Parliament in early December 2011. The transition President Hadi was elected on February, 21 2012, for the period spanning to the planned next general elections in the first half of 2014. In an environment of political tensions, the President made progress in reforming the security institutional set-up, in reducing the influence of Al-Qaeda forces, and in preparing for a national dialogue.
Users also downloaded
Showing related downloaded files
Publication Supporting Youth at Risk(World Bank, Washington, DC, 2008)The World Bank has produced this policy Toolkit in response to a growing demand from our government clients and partners for advice on how to create and implement effective policies for at-risk youth. The author has highlighted 22 policies (six core policies, nine promising policies, and seven general policies) that have been effective in addressing the following five key risk areas for young people around the world: (i) youth unemployment, underemployment, and lack of formal sector employment; (ii) early school leaving; (iii) risky sexual behavior leading to early childbearing and HIV/AIDS; (iv) crime and violence; and (v) substance abuse. The objective of this Toolkit is to serve as a practical guide for policy makers in middle-income countries as well as professionals working within the area of youth development on how to develop and implement an effective policy portfolio to foster healthy and positive youth development.Publication Europe and Central Asia Economic Update, Fall 2024: Better Education for Stronger Growth(Washington, DC: World Bank, 2024-10-17)Economic growth in Europe and Central Asia (ECA) is likely to moderate from 3.5 percent in 2023 to 3.3 percent this year. This is significantly weaker than the 4.1 percent average growth in 2000-19. Growth this year is driven by expansionary fiscal policies and strong private consumption. External demand is less favorable because of weak economic expansion in major trading partners, like the European Union. Growth is likely to slow further in 2025, mostly because of the easing of expansion in the Russian Federation and Turkiye. This Europe and Central Asia Economic Update calls for a major overhaul of education systems across the region, particularly higher education, to unleash the talent needed to reinvigorate growth and boost convergence with high-income countries. Universities in the region suffer from poor management, outdated curricula, and inadequate funding and infrastructure. A mismatch between graduates' skills and the skills employers are seeking leads to wasted potential and contributes to the region's brain drain. Reversing the decline in the quality of education will require prioritizing improvements in teacher training, updated curricula, and investment in educational infrastructure. In higher education, reforms are needed to consolidate university systems, integrate them with research centers, and provide reskilling opportunities for adult workers.Publication Growth in the Middle East and North Africa(Washington, DC: World Bank, 2024-10-16)This issue of the MENA Economic Update presents a summary of recent macroeconomic trends, including an update of the conflict centered in Gaza and its regional spillovers, alongside an analysis of factors that shape the long-term growth potential of the region, with special attention to the persistent effects of conflicts. A modest uptick in growth is forecast for 2024, which nonetheless masks important disparities within the region. The acceleration is driven by the high-income oil exporters, while growth is expected to decelerate among developing MENA countries, both developing oil exporters and developing oil importers. Despite current challenges, the region can dramatically boost growth by better allocating talent in the labor market, leveraging its strategic location, and promoting innovation. Closing the gender employment gap, rethinking the footprint of the public sector, and facilitating technology transfers through trade under enhanced data quality and transparency can help the region leap toward the frontier. Peace is a pre-condition for catching up to the frontier, as conflict can undo decades of progress, delaying economic development by generations.Publication Global Economic Prospects, June 2023(Washington, DC: World Bank, 2023-06-06)Global growth is projected to slow significantly in the second half of this year, with weakness continuing in 2024. Inflation pressures persist, and tight monetary policy is expected to weigh substantially on activity. The possibility of more widespread bank turmoil and tighter monetary policy could result in even weaker global growth. Rising borrowing costs in advanced economies could lead to financial dislocations in the more vulnerable emerging market and developing economies (EMDEs). In low-income countries, in particular, fiscal positions are increasingly precarious. Comprehensive policy action is needed at the global and national levels to foster macroeconomic and financial stability. Among many EMDEs, and especially in low-income countries, bolstering fiscal sustainability will require generating higher revenues, making spending more efficient, and improving debt management practices. Continued international cooperation is also necessary to tackle climate change, support populations affected by crises and hunger, and provide debt relief where needed. In the longer term, reversing a projected decline in EMDE potential growth will require reforms to bolster physical and human capital and labor-supply growth.Publication World Development Report 2014(Washington, DC, 2013-10-06)The past 25 years have witnessed unprecedented changes around the world—many of them for the better. Across the continents, many countries have embarked on a path of international integration, economic reform, technological modernization, and democratic participation. As a result, economies that had been stagnant for decades are growing, people whose families had suffered deprivation for generations are escaping poverty, and hundreds of millions are enjoying the benefits of improved living standards and scientific and cultural sharing across nations. As the world changes, a host of opportunities arise constantly. With them, however, appear old and new risks, from the possibility of job loss and disease to the potential for social unrest and environmental damage. If ignored, these risks can turn into crises that reverse hard-won gains and endanger the social and economic reforms that produced these gains. The World Development Report 2014 (WDR 2014), Risk and Opportunity: Managing Risk for Development, contends that the solution is not to reject change in order to avoid risk but to prepare for the opportunities and risks that change entails. Managing risks responsibly and effectively has the potential to bring about security and a means of progress for people in developing countries and beyond. Although individuals’ own efforts, initiative, and responsibility are essential for managing risk, their success will be limited without a supportive social environment—especially when risks are large or systemic in nature. The WDR 2014 argues that people can successfully confront risks that are beyond their means by sharing their risk management with others. This can be done through naturally occurring social and economic systems that enable people to overcome the obstacles that individuals and groups face, including lack of resources and information, cognitive and behavioral failures, missing markets and public goods, and social externalities and exclusion. These systems—from the household and the community to the state and the international community—have the potential to support people’s risk management in different yet complementary ways. The Report focuses on some of the most pressing questions policy makers are asking. What role should the state take in helping people manage risks? When should this role consist of direct interventions, and when should it consist of providing an enabling environment? How can governments improve their own risk management, and what happens when they fail or lack capacity, as in many fragile and conflict-affected states? Through what mechanisms can risk management be mainstreamed into the development agenda? And how can collective action failures to manage systemic risks be addressed, especially those with irreversible consequences? The WDR 2014 provides policy makers with insights and recommendations to address these difficult questions. It should serve to guide the dialogue, operations, and contributions from key development actors—from civil society and national governments to the donor community and international development organizations.