Yemen Cabinet Approves 2013 Budget With 682 Billion-Rial Deficit

Dec. 23 (Bloomberg) -- Yemen’s cabinet approved today a budget for 2013 with a deficit of 682 billion rials ($3.17 billion), the state Yemen News Agency Saba reported.

Expenditures for next year are 2.77 trillion rials compared with revenue of 2.08 trillion rials, Saba reported, citing a cabinet decision.

Parliament must vote on the budget before it is enacted, the official news service said.

To contact the reporter on this story: Mohammed Hatem in Dubai at mhatem1@bloomberg.net

To contact the editor responsible for this story: Maher Chmaytelli at mchmaytelli@bloomberg.net