Almost half of Yemenis live on less than $2 a day

Poverty level makes it one of the poorest countries in the world, says World Bank

(Photo for illustrative purposes only)

(Photo for illustrative purposes only)

Nearly half of Yemen’s population, about 47 percent, lives on less than $2 a day while the poverty level in the country makes it one of the poorest in the world.

Rural poverty levels in the country are estimated at about 50 percent, according to the World Bank, which estimates that Yemen’s population will more than double to 50m people by 2035.

 The country, which has seen a wave of attacks by militants on its oil pipelines, will probably run out of oil in about 11 years at its current production levels.

Oil accounts for about a third of the country’s gross domestic product and makes up about 75 percent of the government’s revenue and 90 percent of the country’s exports.

The country’s economy is expected to grow about 4.1 percent this year after contracting 1.9 percent in 2012 while inflation is forecast to drop to 12.7 percent from 15 percent a year earlier, according to International Monetary Fund figures.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

NOTE: Comments posted on arabianbusiness.com may be printed in the magazine Arabian Business

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
WEF has a plan, but it is up to the Middle East to make it happen

WEF has a plan, but it is up to the Middle East to make it happen

Organisation knows what the GCC has to do to meet the challenges...

Saudi shake-up strengthens king's powerful son

Saudi shake-up strengthens king's powerful son

Royal decrees saw a number of allies of Deputy Crown Prince Mohammed...

1
Filipino expats in Gulf look to hardman Duterte

Filipino expats in Gulf look to hardman Duterte

President on tour of region as more than a million Filipino workers...

Most Popular
Most Discussed
sponsoredTracking