Riyadh, February 11, 2024, In adherence to the directives of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al-Saud, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, and in recognition of the profound fraternal bonds between the Kingdom of Saudi Arabia and the Republic of Yemen, the Yemeni government has received a substantial sum of $250 million as the second tranche of budget deficit assistance from Saudi Arabia.
This financial aid underscores Saudi Arabia's unwavering commitment to fostering security, stability, and prosperity for the Yemeni populace. The primary objective of this support is to fortify the Yemeni government's fiscal framework, elevate the purchasing power of its citizens, and catalyze economic recuperation in Yemen. In response to Yemen's request for economic aid in August 2023 to address its fiscal shortfall and ensure food security, Saudi Arabia pledged its assistance, totaling $1.2 billion. These funds will be allocated towards sustaining salaries, operational costs, and overall economic resilience in Yemen.
Over the period spanning from 2012 to 2023, the Kingdom has extended approximately $11.2 billion in direct economic and developmental assistance. The provision of budget deficit support has yielded substantial economic dividends, including the enhancement of living standards for Yemeni citizens, reinforcement of the Yemeni government's capacity, implementation of economic reform initiatives, and the bolstering of the Central Bank of Yemen through the activation of monetary policy instruments.
