Economy
There was little industrial output, or mineral wealth exploitation, in South Yemen, until the mid-1980s, following the discovery of significant petroleum reserves in the central regions near Shibam and Mukalla. The main sources of income were agriculture, mostly fruit, cereal crops, cattle and sheep, fishing and later, oil exports.
The national budget was 13.43 million dinars in 1976, and the gross national product was USD $150 million. The total national debt was $52.4 million.
Read more about this topic: South Yemen
Famous quotes containing the word economy:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)