Yemen is facing its most severe crisis in two decades as the rise of the Houthis (a Zaydi Shia movement), now the dominant force in the capital, Sanaa, has led to the resignation of the government and a dangerous power vacuum.
Yemen's public finances have been unbalanced for years and are facing a crisis in 2015 given low oil prices and a likely fell in grants and tax revenue. We expect a peak deficit of 9.6% of GDP in 2015, easing to 54% in 2016-19.
Inflation is ticking up again and will be driven by crisis-induced shortages and the depreciation of the Yemeni riyal (currently pegged to the US dollar) from mid-2015. We forecast that inflation will average 9% in 2015-19.

Highlights 7

Political outlook 8

Democracy index 10

Economic policy outlook 12

Economic forecast 13

Annual data and forecast 16

Quarterly data 17

Monthly data 18

Annual trends charts 19

Monthly trends charts 20

Comparative economic indicators 21

Basic data 22

Political structure 23

Politics 24

Economy 38

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