New Saudi Support for Yemen: 1.3 Billion Riyals to Stabilize Salaries and Wages
The Yemeni government signed a new financial support agreement yesterday, Sunday, in the Saudi capital Riyadh, with the Saudi Program for Development and Reconstruction of Yemen worth 1 billion300 million Saudi Riyals (approximately 346 million dollars), in a move aimed at covering the public budget deficit and financing the salaries of state employees.
The agreement was signed concurrently with the announcement by the internationally recognized Yemeni government of the approval of the budget for the year 2026, which is the first of its kind in years, giving the step a notable economic and political dimension amid the challenges facing the country.
The Yemeni side was represented in the signing by Minister of Finance Marwan bin Ghanem, while the Saudi side was signed by Ambassador Mohammed Al Jaber.
The Yemeni Minister of Finance confirmed that the new support represents an extension of Saudi Arabia's supportive positions towards Yemen, noting that it will directly contribute to the regular payment of salaries for both central and local authorities and economic units, thereby enhancing financial stability and improving government performance.
He also emphasized that the government is proceeding with the implementation of a comprehensive economic reform program aimed at improving revenue efficiency and enhancing financial discipline, achieving greater sustainability in the management of public resources.
For his part, Saudi Ambassador Mohammed Al Jaber affirmed the Kingdom's keenness to continue supporting Yemen to achieve economic stability and development, explaining that this support comes through the Saudi Program for Development and Reconstruction of Yemen to alleviate humanitarian suffering and support the path of national recovery.
This grant reflects the ongoing economic partnership between the two countries, at a time when the Yemeni government seeks to stabilize financial conditions and ensure the regular payment of salaries, considering this one of the key factors for economic and social calm in the current phase.
