The Times: War on Yemen forced Saudi regime to borrowing

SANAA, July 8 (YPA) – Saudi Arabia’s war on Yemen prompted the Saudi government to borrow, including its public debt on the local stock exchange, stressing that the cost of the war paid by Riyadh is $200 million per day over the past three Years, the Times British Magazine reported.

According to the British magazine, the cost of the war is 72 billion dollars a year and 216 billion dollars in three years, and other sources indicate that the amount much larger and estimated by Foreign Policy at $ 725 billion in the first six months alone, including military deals.

In this context, Saudi reports indicate that the cost of war-fighting aircraft amounts to some $230 million per month, including operation, ammunition, and maintenance, or more than $8 billion only in three years.

The Saudi financial market Company (Tadawul), a local exchange operator, has announced the inclusion of government debt instruments with a total value of 3.1 billion riyals (827 million dollars) as a result of the High war bill on Yemen.

The Saudi debt constituted 17 percent in 2017and 13.1 percent in 2016. Experts say that the Saudi war on Yemen which has entered its fourth years, has cost the economy a huge price.

E.M