Yemen's economy continues to face significant hurdles as ongoing conflict and regional tensions exacerbate the nation's economic and humanitarian crises, according to the latest World Bank Yemen Economic Monitor. The report said Yemen's GDP is projected to contract by 1.0% in 2024, following a 2.0% contraction in 2023 and a modest growth of 1.5% in 2022.Between 2015 and 2023, Yemen experienced a 54% decline in real GDP per capita, leaving the majority of Yemenis in poverty. It also showed that food insecurity affects half the population, and youth mortality rates have surged. The Internationally Recognized Government's (IRG) fiscal situation deteriorated significantly in 2023. "Yemen's economic and humanitarian challenges are intensifying, yet the potential for recovery remains with the right support and strategies," said Dina Abu-Ghaida, World Bank Country Manager for Yemen.
The US Central Command (CENTCOM) reported on Friday that its forces destroyed seven Iranian-backed Houthi uncrewed aerial vehicles (UAVs) and one ground control station vehicle in Yemeni areas under Houthi control. "It was determined the UAVs and the ground control station presented an imminent threat to US, coalition forces, and merchant vessels in the region," CENTCOM statement published on X read. "This continued malign and reckless behavior by the Iranian-backed Houthis threatens regional stability and endangers the lives of mariners across the Red Sea and Gulf of Aden," it added. Yemen's Houthis intensified its attacks in recent weeks, coinciding with ongoing Israeli operations.
Yemen's Houthis on Friday claimed responsibility for attacking a Liberia-flagged vessel in the Red Sea that a maritime agency said had survived five missiles while also saying they targeted three other vessels, including two in the Mediterranean. The Iran-aligned Houthis say their attacks on shipping lanes are in solidarity with Palestinians in the ongoing war in Gaza, sparked by Hamas's October 7 massacre in southern Israel. Yahya Saree, the Houthi military spokesperson, said in a televised statement that the group launched ballistic missiles at the Delonix, an oil tanker and that it took a "direct hit."
A senior official of the Gaza-based Hamas, Osama Hamdan, said on Saturday there had been no progress in ceasefire talks with Israel over the Gaza war. The Palestinian group is still ready to "deal positively" with any ceasefire proposal that ends the war, Hamdan told a news conference in Beirut. Hamas says any deal must end the war and bring full Israeli withdrawal from Gaza, while Israel says it will accept only temporary pauses in fighting until Hamas, which has ruled Gaza since 2007, is eradicated. The Israeli war on Gaza has so far killed nearly 38,000 people, according to the Gaza health ministry, and has left the heavily built-up coastal enclave in ruins.
