Purchasing power declines by 80% for Yemeni people
English - Monday 06 May 2019 الساعة 02:43 pm
Sana'a – NewsYemen.net
Retail and wholesale traders in the capital Sana'a and other areas under the control of the Houthi militias complain of declining demand for their goods among citizens, especially during the fasting month of Ramadan which is witnessing an increase in demand for consumer goods.
Zakaria al-Amiri, a wholesaler in the capital Sana'a told Newsyemen that the buying demand in this Ramadan almost no different from the past two days or two earlier two years.
Previous years, on the contrary, Ramadan was a season of sale and profit as well, Now, things are different , the People's situation are deteriorated, al-Amiri added.
The markets are experiencing severe recession with the reluctance of citizens to buy, and the rise in prices, reflecting the continuing difficulties of living for large classes of the population, especially with the suspension of salaries, the depletion of savings and the scarcity of incomes, and the collapse of purchasing power over the years of war.
According to the economic survey data in 2018 issued by the Economic Studies and Prospects Sector at the Ministry of Planning and International Cooperation, the average cost of food basket rises by 127% compared to pre-war.
"The purchasing power of more than 80 percent of Yemenis has fallen, forcing the proportion of Yemenis to reduce their food needs, whether in Ramadan or else, as well as their inability to access food," says economist Amer Sheryan which will also lead to another disaster of malnutrition in children.
