The Ambassador of the Custodian of the Two Holy Mosques to Yemen and General Supervisor of the Saudi Program for the Development and Reconstruction of Yemen, Ambassador Mohammed Al Jaber, announced that the Kingdom of Saudi Arabia will provide a new and direct support package to the Yemeni government's budget. This step comes under the generous directives of the Saudi leadership – may God support them – and is a continuation of the Kingdom's firm commitment to standing by the brotherly Yemeni people in all circumstances and crises.
Details of the new financial support
Ambassador Al Jaber explained that the new support is earmarked for covering the salaries of civil servants across all sectors, which will directly contribute to easing the financial burden on thousands of Yemeni families who rely on government salaries as their primary source of income. He noted that this support is not limited to direct financial assistance but also coincides with a package of recently announced development projects and initiatives encompassing several vital sectors.
Supporting military and security forces
In a related context, regarding the enhancement of security and stability, the Saudi ambassador affirmed that support will also include the disbursement of salaries for all military and security forces affiliated with the Supreme Military Committee. The disbursement process will be implemented through the Coalition Command, led by the Kingdom, with procedures scheduled to begin next Sunday. This step is a fundamental pillar for ensuring the cohesion of the military and security institutions and enabling them to fulfill their duties in maintaining security and stability in the liberated governorates.
Supporting the energy and economic sector
In addition to salaries, the Saudi package included providing the necessary petroleum derivatives to operate power plants in Yemeni governorates. This step is of paramount importance to ensuring the continuity of essential services for citizens, especially given the challenges facing the energy sector. This comprehensive support aims to bolster the Yemeni government's efforts in implementing its comprehensive economic reform program, thereby enhancing the prospects for achieving financial and monetary stability and mitigating the depreciation of the local currency.
Economic context and the importance of timing
This support comes at a critical time when the Yemeni economy is facing numerous challenges, most notably inflation and the fluctuating exchange rate of the Yemeni rial against foreign currencies. This financial influx is expected to have a tangible positive impact on the economic cycle within Yemen, as the injection of cash through salaries will stimulate markets and increase citizens' purchasing power. This support also reflects the Kingdom of Saudi Arabia's commitment to supporting Yemeni state institutions and preventing their collapse, sending reassuring messages to the international community and donors about the seriousness of efforts to achieve economic stability as an integral part of a comprehensive solution to the Yemeni crisis.
