Yemen’s Economy suffers $1.13 trillion losses due to Saudi-US blockade

SANAA, Aug. 02 (YPA) – The Sanaa-based Ministry of Economy, Industry and Investment has announced that losses to Yemen’s economy as a result of the Saudi-US blockade have exceeded $1.13 trillion.

During a press conference and photo exhibition held at Sanaa University, acting economy minister, Sam Al-Bashiri, highlighted the extensive damage inflicted on various economic sectors over the past 12 years.

He said the losses affected multiple sectors, including $111 billion in foreign trade, $82.5 billion in industry, $111 billion in agriculture and livestock, and $57 billion in oil and mineral resources, in addition to major losses in transportation, energy, tourism, fisheries, telecommunications, health, and water sectors.

Al-Bashiri added that the damage extended to airports, ports, roads, factories, power stations, water facilities, health and education institutions, and telecommunications infrastructure, resulting in disrupted production, higher transportation and trade costs, declining investment, and the loss of hundreds of thousands of jobs.

According to the ministry, these repercussions have severely affected living conditions, with more than 31 million Yemenis facing the risk of famine.

AA