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Tunisian economy to get back on track this year

Tunisian economy to get back on track this year
  • Comments   -   Thursday, 20 April 2017 - 17:04

(Ecofin Agency) - Six years after the Arab spring which significantly impaired economic growth in Tunisia, the country should get back on the right track this year. This trend will be mainly supported by the revival of tourism and phosphate production, said Prime Minister Youssef Chahed on TV last Sunday.

“Tourism is doing better and should record a 30% growth this year. As for phosphate production, it has re-started and we are expecting a good agricultural season,” said Chahed.

In terms of reforms towards fiscal consolidation, the official said tax revenues surged 14% in Q1 2017. However, he believes the performance to be weak. Tunisia forecast a growth of about 2.5% this year, slighty above last year’s forecast of 2.3% by the World Bank in its quarterly report on MENA.

The government is pressured by financial institutions to insure that its economic and financial reforms cut public expenditures and reduce deficit. In the framework of these reforms, the State should sell its stakes in three public banks and lay off 10,000 jobs in public sector and most importantly promote private sector.

Fiacre E. Kakpo

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