ECONOMY

Yemen’s Houthi bastions near economic collapse as militia imposes levies

Money collected by the Houthis from merchants and citizens have led to economic collapse. (File photo: Reuters)

Minister of Industry and Trade in Yemen’s coup government Abdu Bishr acknowledged that the money collected by the Houthis from merchants and citizens have led to near economic collapse and greatly raised prices in Sanaa and other Houthi strongholds.

A leaked letter that he had addressed to Saleh al-Samad, the leader of the Supreme Political Council, and the coup government’s Prime Minister Abdel-Aziz bin Habtour, showed that some of the Houthis’ wrong decisions, such as collecting money under the excuse of “military efforts” and customs at ports, increased the prices of essential products, gas and oil.

Bishr admitted in the letter that prices “repeatedly” increased for “unjustified reasons,” adding that oil derivatives, gas and food were sold for great prices to “new influential” men in reference to Houthi commanders.

He also accused the Houthi Movement, which he is a part of, of contributing to the deterioration of exchange prices as financial matters related to revenues were “absurdly managed by random people and not by the bank.”

“Serious consequences resulted from the insane, illogical and unjustified increase of prices especially as citizens’ purchasing power has increased,” he also said and warned of a “real famine.”

 

SHOW MORE
Last Update: Monday, 5 February 2018 KSA 09:13 - GMT 06:13
Top
BREAKING NEWS

Send to a friend

Close
Yemen’s Houthi bastions near economic collapse as militia imposes levies
Friend's name:
Friend's Email:
Sender's name:
Sender's Email:
Captcha Code
How are we doing?
X

How are we doing?

Name Name *
Email Email *
Country Country
Message Message *
Maximum 550 words allowed