UN General Assembly
1996

balance and stability in the economy as a whole and to 20 activate the role of the private sector on the basis of a market economy and free competition, while taking into account the importance of improving basic essential social services, building a modern State and improving the standard of living of citizens. Efforts by the Yemeni Government to implement this programme have yielded improvements and have had notable success, especially in preventing the collapse of the local currency, reducing the rate of inflation and achieving a positive growth rate. However, it has proved difficult to alleviate suffering in the social sphere. These difficulties have been compounded by the disastrous floods which plagued Yemen last June, causing extensive, grave losses of life and property. These affected some parts of the infrastructure and harmed many people. Agricultural land was eroded and livestock was destroyed. Houses, roads, bridges, health centres, sources of drinking water and schools in many areas of the Republic of Yemen were all destroyed. These losses and damages were a major disaster and economic setback for Yemen.