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The Yemeni Ministry of Planning said in a report issued in cooperation with the UNICEF country office, that Yemen's GDP losses is expected to reach about 50 billion dollars by the end of 2018, as a result of the war taking place in the country for nearly three years.
The ministry predicted that the economy will continue to suffer losses because of the war unless urgent and sustainable peace is achieved and the economy is neutralized from the conflict.
According to the report, cumulative losses in real GDP are projected to increase to $ 49.9 billion (excluding material losses) by the end of 2018. Noting that after three years of conflict, cumulative losses in GDP ranged from 6 to 15 percent in the region compared to between 4 and 9% in the world, while in Yemen it was estimated at 47.1% in 2015 and 2017.
The report attributed the high economic losses in Yemen to the faltering production and export of oil and gas, which are the lifeline of the national economy, in addition to the closure of some air and land ports and restricting the movement of foreign trade by the coalition.