The Central Bank’s Undersecretary for local banking operations in Sana’a, Ali Al-Shamahi on Thursday said: “It is possible to establish a temporary revenue fund and specify the participation rates of each party in it to pay the state employees’ salaries.”
Al-Shamahi pointed out that the entitlement to the salaries of state employees could be met if the other party removed its hand from oil, gas and ports revenues.
He stressed that the other party did not fulfill the Sweden agreement and repudiated the obligation to cover the salary gap, while the revenues collected by the Salvation Government are not sufficient.
The Minister of Finance in the Sana’a government, Dr. Rashid Abu Lahoum, confirmed that Sana’a has complied with the Sweden agreement and worked to open a special account for salaries, and all revenues of oil derivatives were deposited into it.
“Sana’a worked to disburse half of the salary to the state employees, albeit intermittently, from the amounts supplied to the salary account after the other party disavowed covering the salary entitlement gap,” Abu Lahoum said.
He pointed out that crude oil sales are currently estimated at $300 million per month, and these revenues cover the salary bill, not for this year, but for the next three years.