During his meeting with the economic team… President Al-Zubaidi: Our economic battle is fateful, and no different from battle against Houthi militias
SMA NEWS – RIYADH
The President of the Southern Transitional Council (STC), Deputy Head of the Presidential Leadership Council (PLC), Chairman of the Supreme Committee for Financial Resources (SCFR), President Aidarous Qassem Al-Zubaidi, on Sunday, at his residence in the Saudi capital, Riyadh, held an important meeting with the economic team, headed by Mr. Husam Al-Shargabi.
In the meeting, President Al-Zubaidi affirmed that the PLC and the power-sharing government, supported by the official brothers in the countries of the Arab coalition, have engaged in a crucial battle to revive the economy, stressing on redoubling efforts to assist the PLC in finding quick resolutions to the deteriorating economy and collapsing value of the local currency.
President Al-Zubaidi indicated that the PLC’s battle to revive the economy is fateful and with no less importance than the battle against the Iran-backed Houthi militias.
President Al-Zubaidi directed the economic team to work within two tracks: a fast track to stop the collapse of the exchange rate of the local currency, by boosting revenues, rationalizing spending, developing financial and administrative systems, qualifying their cadres, activating supervisory bodies, enhancing transparency, combating corruption, developing financial and banking policies, controlling and intensifying supervision over exchange companies, and the track of sustainable solutions by working to launch major investment projects in vital economic sectors, and preparing profound strategic studies that contribute to create a real economic recovery.
President Al-Zubaidi got briefed on the workflow of the team and efforts made to receive the pledges of the official brothers to support the national economy, in addition to endeavours exerted to mobilize needed assistance from donor countries, and the preparation of required studies and consultations for the economic recovery.
In turn, the head and members of the team expressed their thanks for the great support provided by the PLC, and the keenness to ease the encountered difficulties, affirming that the team relies a lot on President Al-Zubaidi’s assistance as the Chairman of the Supreme Committee for Financial Resources (SCFR).
