Saudi Arabia Commits USD368M to Aid Yemen’s Crumbling Economy
(MENAFN) Yemen’s Presidential Leadership Council (PLC) on Saturday welcomed a fresh financial lifeline from Saudi Arabia, totaling 1.38 billion riyals (approximately $368 million), aimed at stabilizing the nation’s crumbling economy and supporting critical reforms.
In a statement shared on social media platform X, PLC President Rashad Al-Alimi said the Saudi grant underscores the Kingdom’s "strong commitment to the Yemeni people and their aspirations for stability, peace, and development," adding that a portion of the funds will finance operations at the Prince Mohammed bin Salman Hospital in Aden.
Yemeni Prime Minister Salem bin Buraik also endorsed the aid package, emphasizing its role in strengthening the economy and preserving the gains made through recent government reforms.
According to Saudi Arabia’s foreign ministry, the funding—channeled through the Saudi Program for the Development and Reconstruction of Yemen (SPDRY)—will be directed toward government budget support, fuel subsidies, and the sustainment of vital public services.
The announcement follows mounting unrest in Aden and other government-held areas in southern Yemen, where tens of thousands of civil servants have reportedly gone without pay for over three months.
Yemen’s economic outlook remains dire. Since the civil war erupted in 2014, real GDP per capita has plummeted by more than half, poverty levels have surged, and the national currency has sharply devalued. The ongoing conflict has fractured the country into rival political zones and left millions dependent on humanitarian assistance.
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