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A senior Yemeni banking official has said that the country’s income from oil sales dropped by over 50% in 2009.
Reuters reported that Ibrahim Al Nahari, sub-governor for foreign banking operations said that income from oil was US$2 billion last year, down from $4.4 billion in 2008.
However, Nahari stated that increased income from liquefied natural gas (LNG) imports would keep the country’s economy stable.
Oil revenues account for 75% of Yemen’s state budget.
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