Macroeconomic Forecast Yemen

With unrest at the start of 2011 gathering momentum everywhere in MENA, including some oil-exporting Gulf states, Yemen's growth outlook has been undermined, which led us to revise our real GDP growth forecast to 2.2% in 2011 down from 2.8% previously. Although escalating tensions will result in a ramp up of government spending, household expenditure will remain the chief driver of growth for the foreseeable future.

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