Study: 87% of Yemeni families are burdened with debt
English - Monday 03 April 2023 الساعة 09:56 pm
Aden, NewsYemen, exclusive:
A new economic study said that about 87% of Yemeni families are burdened with debt, with the continued economic decline and difficult humanitarian conditions, and the poverty rate rising to rates of more than 80% in 2022, compared to 48% in 2014.
The "Poverty in Yemen" study confirmed that more than 80% of Yemenis are unable to secure basic food and non-food needs, and basic non-food needs related to housing, clothing, education, health and transportation.
The study, issued by the Ministry of Planning and International Cooperation and funded by UNICEF, indicated that borrowing was much higher among the displaced, as 91% of the displaced families had to pay off some debts, which illustrates the long suffering of these poor families.
It indicated that due to low income levels and sources of income, many families adopt negative coping strategies, as three out of four families reported that they adopted negative coping strategies.
The most common coping strategy was that 81% of families resorted to buying food on credit, and 57% of families reduced spending on other basic needs.
In addition to eating strategies with other families due to lack of food at home, spending savings, selling local assets and needed productivity, begging is also a coping strategy.
The study argues that austerity measures will hurt children the most, push more of them into poverty, and make it more difficult for families who are already struggling.
It said that poverty affects the process of educating children deeply, and according to the assessment of multi-sector sites in October 2022, poverty affects children's enrollment in schools, as more than 90% of parents reported that they could not afford the expenses of educating their children.
Two-thirds added transportation costs that were too high for them to bear, and a similar percentage, 66 percent, stated that their children were working to support their families, including child labor and involving children in housework.
The study indicated that living in poverty affects the decision-making process in the long term, as research has shown that disadvantaged young men direct their attention to immediate needs, which leads to short-sighted decisions, impatience and a lack of risk.
