News - Yemen: International reports speak of frightening numbers about the worsening economic losses since 2015 until now, as a result of the war and the siege on Yemen.

The war that Yemen has been subjected to for more than six and a half years has had dire consequences on the country's economy, causing a drop in its gross domestic product from $35.7 billion in 2014 to $20.1 billion in 2019.

Reports evaluating the impact of the war on Yemen issued by the United Nations Development Program expected the country’s gross domestic product to reach $100.3 billion in 2030.

During the first five years of the war on Yemen 2015-2019, the losses amounted to 15.6 billion dollars, bringing the GDP in that year to 20.1 billion dollars.

Reports confirm that the per capita GDP growth rate has begun to improve since 2014, the year during which Yemen witnessed the outbreak of the September 21 revolution.

The economic effects of the war and the blockade imposed on Yemen also included the so-called economic output losses, which amounted to $88.8 billion during 2019.

As a result of the war and siege, the Yemeni economy lost nearly $90 billion during the period from 2014 to 2020, as it lost a large part of the capital for the public and private sectors, which represents the summary of work and economic achievements over the past decades.

Expectations indicate that the economy of Yemen, which is going through very critical conditions, after the rates of cumulative decline in macroeconomic indicators reached their worst stage, will continue to decline as long as the war and siege continue.

Preliminary estimates of the World Bank indicate that the financing requirements necessary for the recovery of the Yemeni economy are estimated at 88 billion dollars, at 17.6 billion dollars annually for a period of 5 years.

The real GDP of Yemen shrank by about 46 percent during the period 2015-2020, and the cumulative losses in the real GDP amounted to about $49.8 billion during the same period.

The World Bank estimated that between 71 to 78 percent of Yemenis, representing 21 million people, were included below the poverty line at the end of 2019.

The economic war waged by the countries of the coalition of aggression against the Yemeni people has caused a rise in the prices of basic foodstuffs and social services, which has led to an increase in poverty and the risk of starvation for millions of people.