News - Yemen: President of the Supreme Political Council, Mahdi Al-Mashat, congratulated the male and female workers in Yemen on the occasion of the International Labor Day of May and the blessed Eid Al-Fitr.

"The suffering that Yemeni people is experiencing today, including the expanding of poverty, unemployment and the decline in economic activity, is a direct result of the economic war waged by the US-Saudi aggression" He said.

He pointed out that the US-Saudi aggression set its sights on the destruction of Yemen's national industries to turn the country into a consumer market, indicating that it destroyed hundreds of factories, while thousands of workers fell as martyrs at production sites while performing their sacred duty.

President Al-Mashat added that the US-Saudi aggression, with its aggression, siege and comprehensive economic war, targeted many basic labor rights and gains, foremost of which are the right to fair salaries and incentives.

He explained that the workers of Yemen are able to overcome current challenges and that they will achieve many victories in the battle of construction, similar to what was achieved in the battle of steadfastness.

He also called for reliance on Allah and the help of the heroic workers of Yemen for their confidence that they will overcome the siege by cultivating the land and moving towards developing civil industries.

Earlier, 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.