(Ecofin Agency) - The Tunisian chamber of deputies has finally approved the issuance of an $800 million Eurobond. This was announced by the deputy Rim Mahjoub on May 22, 2019.

On May 2, 2019, the said institution’s finance committee rejected this Eurobond, asking the government to avoid a significant rise of foreign debt by limiting the size of the operation to $500 million.

The issuance is aimed at funding Tunisia’s budget deficit, which should reach 3.9% of GDP this year. The country whose public debt has reached 74% of GDP has forecasted its foreign funding needs to be $2.5 billion this year.