(Ecofin Agency) - In 2017, Tunisia’s public debt increased to 69.9% of GDP, the finance ministry revealed on Saturday, March 3. According to the statement relayed by Xinhua, the debt stood at TND68, 073.7 million (about $28, 378.2 million) in 2017. This figure, which reflects a deterioration in the country’s public finance situation, represents a significant increase compared to 2016 when the debt was 61.9% of GDP.

The document also indicated that the largest part of this debt was constituted of external debt with TND46, 785.1 million ($19, 466.9 million) while the domestic debt stood at TND21, 288.6 million ($8, 885.5 million) in the period under review.

It should be noted that in the same period, foreign borrowing doubled to about TND8, 644.5 million ($3, 584.2 million) against TND4, 013.5 ($1, 661.1 million) in 2016. Meanwhile, domestic borrowing dropped from TND3, 888.6 million ($ 1,614.8 million) in 2016 to 2, 680.6 million dinars ($ 1,109.8 million) in 2017. For the record, last February 23, Tunisia recorded a historic decline in foreign exchange reserves, posing a potential threat to the country's capacity to payback its debts.

Moutiou Adjibi Nourou (intern)