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FINANCIAL NEWS
Yemen on the verge of economic disaster: Minister
14 May 2011
(MENAFN) Yemen’s oil minister, Amir al-Aidarous, said that the country, which is undergoing widespread protests is on the verge of economic disaster, reported Reuters.
Al-Aidarous said that the unrest which led to attacks on oil pipelines, including one on an oil export pipeline in Maarib province east of Sanaa, took its toll in the economy and on the confidence of foreign investors.
The minister added that more than one oil company shut operations in Yemen. In addition, foreign oil workers fled the country.
The minister elaborated saying that if the problem persists, the government will be unable to meet the minimum needs of the citizens.
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