Supreme Economic Committee discusses crisis of the deterioration of local currency exchange rate

SMA NEWS – ADEN the Capital

The Supreme Economic Committee of the Southern Transitional Council held its periodic meeting, on Thursday, under the chairmanship of Dr. Mohammad Nasher, head of the committee, and in the presence of the heads of the sub-committees working within the committee.

The meeting reviewed a report evaluating the committee’s activity during the past period, and what has been accomplished in light of price fluctuations in the currency market and the deterioration in the local currency’s value against foreign currencies and its negative effects on the deterioration of the economy, and the resulted increase in products prices, that led to poverty of community members.

The meeting discussed the committee’s vision to activate investment and its role in preparing economic studies for competitive investment opportunities and providing participation opportunities for investment capital.

At the end of the meeting, the committee approved a number of recommendations necessary to resolve the issues discussed in the meeting.