On August 26, ratings agency Fitch Ratings has confirmed Tunisia’s ratings for long-term sovereign credit in foreign and currency at “BB-”, with negative outlook.

The agency said its decision was driven by the country’s low economic growth and high security risks that dealt a blow to its tourism sector, which is one of its main sources of revenues.

Fitch also mentioned actual political conflicts within the Nidaâ Tounes party that brought down the government’s capacity to adopt economic reforms and pushed the President of Tunisia to call for the formation of a national union government, the sixth since 2011’s revolution.

In addition, Fitch Ratings said that the country’s public finances were still a source of concern. Indeed, deficit of current account should reach close to 9% of GDP by the end of 2016 fiscal year when foreign exchange reserves fell to three months of import only at the end of July.

Now the agency expects Tunisia’s economy to grow by 1.2% in 2016 against 4.5% in 2010. The low forecast is mainly due to a slowdown of the tourism sector, a lower agricultural production in 2015 and the dinar weakening to foreign currencies.