Yemeni economist Mohammad Al-Afandi revealed that poverty in Yemen has raised to 70 percent and unemployment to 40 percent, pointing out the GDP growth rate declined to approximately zero and the reserves of foreign currency fell to $ 4.5 billion.
In a seminar held by the Preparation Commission of the National Dialogue under the title "Economic Indications of the Presidential Elections, Al-Afandi said the wrong polices of the former regime brought the Yemeni economy to the brink of the abyss.
He pointed out that a third of Yemen's population suffer from food shortages amid warnings from plunging a large segment of Yemeni people into hunger.
Al-Afandi, a former minister of commerce and economy, made clear that the reform of the economy depends on political reform and change, dubbing the early presidential elections scheduled for February 21 as the starting point to conduct inclusive reforms inside the state.
He shed light on features of the current economic situation and expectations of the future, stressing that there are positives sings of significant economic recovery.
Meanwhile, professor of economics in Sana'a University Mohammad Jubran cited that the election of a new president would save the state economy, affirming that the economy would boost in light of real democracy and peaceful transfer of power.
He further criticized the role of Yemen's private sector, hinting that it largely raise prices, evade payment of taxes, calling the Yemeni traders to cope with the changes resulted by the Yemeni revolution.
Yemen remains the poorest country in the Arab world, with a per-capita income of $1,300; almost half of the population lives on less than $2 a day.
Yemeni economists expect that the donor conference on Yemen to be held in March in Riyadh, would enable the government overcome economic challenges.