Saudi Arabia provides SR224 million in new budget support to Yemen

RIYADH — Saudi Arabia has allocated more than SR224 million in fresh budget support to Yemen's government. This financial assistance, delivered through the Saudi Development and Reconstruction Program for Yemen (SDRPY), aims to stabilize operational expenditures and salary payments. The initiative, driven by Saudi leadership, seeks to ensure consistent government revenues and staff remuneration while enhancing fiscal policy efficiency.

The funding is anticipated to bolster economic and social development by augmenting purchasing power, thereby ensuring families receive a more predictable income. This, in turn, is intended to stimulate commercial activity. Over the period from 2012 to 2026, Saudi Arabia has committed over $12.6 billion in development and economic aid to Yemen, including deposits and grants to the Central Bank of Yemen. These funds are designed to bolster fiscal equilibrium and overall macroeconomic stability.

In addition to the financial aid, the Saudi Kingdom has concentrated on empowering Yemeni institutions to sustain essential services and alleviate economic and social strains. Under the SDRPY, Saudi Arabia has executed 300 development projects and initiatives across eight key sectors in Yemen. These initiatives have concentrated on enhancing infrastructure and vital services, elevating the skills of Yemeni professionals, and generating employment opportunities.

The overarching objective of these endeavors is to foster sustainable and holistic development in Yemen.