Yemen war cost Saudi $5.3bn: Minister
Saudi Arabia says the increase in the kingdom’s military spending in 2015 was almost entirely due to its aggression against Yemen as Riyadh struggles with a rising annual budget deficit.
Economy Minister Adel Fakeih said Monday that Saudi Arabia’s expenditure in 2015 increased by 13 percent to hit 975 billion riyals (USD 260 billion), adding that about 20 billion riyals (USD 5.3 billion) of that figure was in military and security, which he attributed to the war on Yemen.
Since launching its attacks on Yemen on March 26, Riyadh has been resisting calls for disclosing the costs of the war, which largely consists of airstrikes.
More than 7,500 people have been killed in Yemen over the past months. Riyadh says the campaign was meant to undermine the Houthi Ansarullah movement and restore power to the fugitive former president, Abd Rabbuh Mansour Hadi. The United Nations says more than 2,500 of the fatalities have been civilians.
The Reuters news agency estimated earlier this year that Saudi Arabia would spend approximately USD 175 million per month to support its campaign, adding that a further USD 500 million will be allocated to a potential ground invasion.
The significant increase in the military spending comes against the backdrop of falling oil prices in the international markets which has badly affected Saudi Arabia as the country relies on oil for roughly 90 percent of its revenue.
The Saudi economy minister posted a 98-billion-dollar budget deficit for 2015, adding that the kingdom will face a deficit of USD 87 billion for the next year. To make up for the heavy expenditures of the Yemen war and its rising deficits, Riyadh has adopted a series of austerity measures at home by increasing the cost of fuel and some services up to 80 percent. That has already triggered a nationwide dissatisfaction with many urging the rulers to stop the aggression against Yemen in order to avoid further economic woes.
A budget plan released by the Saudi Finance Ministry on Monday said Riyadh is to allocate 213 billion riyals (some USD 57 billion) to the military and security services in 2016, roughly a quarter of the kingdom’s total budget.
War on Yemen part of US, UK scenario to reshape region: Houthi
Yemen warns will target Saudi Arabia if Riyadh colludes with US against Sana'a
Saudi Arabia executes 7 men in largest execution since 2022
April 17: ‘Axis of Resistance’ operations against Israeli occupation
UN Security Council to vote on full Palestinian UN membership on Friday
Palestinians across Gaza face 'man-made famine’: UNRWA
UK, Italy call on Israel to refrain from escalating tensions in region
VIDEO | Toronto activists block Canada-US rail line in support of Gaza
FM: Iran informed US of retaliatory strikes against Israel
VIDEO | Press TV's news headlines
VIDEO | London demonstration calls for UK to stop exporting arms to Israel
This makes it easy to access the Press TV website
