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A woman shops at a fruit and vegetable market in Tunis. In June Tunisia was given a rating of CCC-, which is seven levels below investment grade

Tunisia repays 74% of debt to ease default fears

Tunisia has repaid 74 percent of its cumulative external debt due this year, defying predictions that the country is heading towards a default. As of September 10, the amount of debt repaid was TND6.6 billion ($2 billion), compared with TND8.9 billion forecast for the year in the 2023 budget, as reported by Agence Tunis Afrique […]

Tunisian President Kais Saied meets with Saudi minister of finance Mohammed al Jadaan.

Tunisia teeters on the edge over mounting debt

Saddled with mounting levels of debt and dwindling foreign reserves, Tunisia is intensifying concerns over its deteriorating public finances. Bailout talks with the International Monetary Fund have stalled since last October when a preliminary agreement for a 48-month loan worth close to $2 billion was reached. Tunisian president Kais Saied’s government refused to accept the […]

The Mdhilla phosphate production plant in Tunisia. The industry contributes 4% of Tunisia's GDP

Tunisia to scale up phosphate production

Tunisia’s state-owned phosphate company is getting ready to ramp up production as part of its TD235 million ($76 million) investment programme. Next month the Gafsa Phosphate Company (CPG) will receive the first batch of machinery, including equipment to increase its capacity to transport raw phosphate and extract commercial phosphate. It will also take delivery of […]

A Bako electric car in Sidi Bou Said, Tunisia. Clean transport is one of the many sectors that can benefit from HSBC's $1bn fund

Tunisia’s energy production drops as trade deficit widens

Total energy production in Tunisia dropped by 8 percent at the end of June to 8,470 gigawatt hours as the country’s energy trade deficit increased. Production intended for the local market was also down 5 percent, according to a report released by the National Observatory of Energy and Mines. Electricity purchases from Algeria and Libya […]

Tunisia President Kais Saied

Tunisia approves $87m loan to safeguard food supplies

Tunisia has approved a TND268 million ($87 million) loan from the African Development Bank (AfDB) to safeguard sustainable food production in the country. The Assembly of People’s Representatives (APR) gave the loan the green light. It will be used to fund the Cereal Sector Inclusive and Sustainable Support Project (Padific), a body aimed at improving […]

An olive harvester at work in Gafsa, Tunisia. Exports to the EU are expected to increase this year

North Africa to the rescue as Europe’s olive oil dries up

A caesar salad may be the ideal light meal on a summer’s day, but you might have noticed it is weighing heavier on your wallet. That is because the price of olive oil is at an all-time high. Prices have jumped by nearly 80 percent in just one year, according to data from YCharts.  European […]

Tunisia market

Saudi Arabia to give Tunisia $500m as soft loan and grant

Saudi Arabia has agreed to provide Tunisia with a $500 million package of financial assistance as the country faces a mounting financial crisis. The Gulf state will give the North African country $400 million as a soft loan and $100 million as a grant, the Saudi Press Agency reported on Thursday. The agreement was signed […]

Tunisair headquarters

Tunisair’s turbulence a ‘toxic mix of circumstances’

Tunisia’s national carrier Tunisair is facing a “toxic mix of circumstances” as it battles for survival, according to a leading aviation expert. The North African country’s president Kaïs Saïed, minister of transport Rabii Mejidi, and Tunisair’s CEO Khaled Chelli met recently to discuss a rescue plan for the airline, which is seeking a restructure to […]

Emirates' latest deal with a Tunisian sports club grows its global portfolio in football

Sponsorship deal grows Emirates’ presence in Africa

Emirates airline is to sponsor a Tunisian sports club, as the Dubai carrier looks to increase its revenues in Africa. The airline will sponsor Etoile Sportive du Sahel, which has teams across a number of sports including football, basketball, volleyball and handball.  Emirates’ branding will be on the teams’ jerseys and training kits, as well […]

Saudi Arabia IMF GDP

Tunisia tells IMF conditions risk civil unrest

Tunisia’s President Kais Saied told the International Monetary Fund’s (IMF) managing director that the fund’s conditions to provide financial support to the North African country risks sparking civil unrest, the Tunisian presidency said. “The president of the Republic made it clear that the International Monetary Fund’s conditions for providing financial support to Tunisia are unacceptable […]

Ursula von der Leyen and other EU leaders met Tunisia's President Kais Saied on June 11

EU offers Tunisia $1bn loan – if it accepts IMF reforms

The European Union has offered Tunisia a €1 billion ($1.07 billion) loan to prop up its economy and tighten border controls. Under the proposal, Tunis must agree to sweeping economic reforms, said European Commission president Ursula von der Leyen. The International Monetary Fund agreed a $1.9 billion bailout for Tunisia last September, but it has […]

Tunisia economy forecast

Tunisia likely to see slower economic growth

The World Bank has forecast that Tunisia’s economy will grow by around 2.3 percent this year, slightly ahead of the 2.2 percent growth predicted for the wider Mena region. The Tunisian economy will grow by 3 percent in 2024 and remain at the same level the following year, according to its Global Economic Prospects report. […]

Tunisia electric vehicles EVs

Tunisia offers cash bonus to switch to electric vehicles

Motorists in Tunisia are being offered bonuses of TD10,000 ($3,200) per car to make the switch to electric vehicles as the government looks to accelerate its sustainability efforts. A survey carried out by Tunisia’s Environment Ministry said that reaching 50,000 electric vehicles (EVs) by 2025 and 130,000 by 2030 will save 2.2 million tonnes of […]

Bab El Bhar Tunis Tunisia

Hospitality helps Tunisian economy grow 2% in Q1

The Tunisian economy grew by 2.1 percent in the first quarter of this year, although unemployment hit 16.1 percent, according to data from the National Institute of Statistics (INS). The year-on-year growth was driven by increased revenues from the communications, transport and hotels, restaurants and coffee shops sectors, which grew 4.8 percent, 5.3 percent and […]

Tunisian president Kais Saied

Questions raised over Tunisia plan to tempt investors

Tunisia’s latest move to reassure foreign investors is good news “on paper”, a leading analyst has said, but not enough to offset concerns about the North African country’s economy. James Swanston, Mena economist at Capital Economics, pointed to Tunisia’s recent membership talks with the African Trade Insurance Agency, which provides trade-credit and political risk insurance […]

Ferid Belhaj, World Bank vice president for the Middle East and North Africa

Tunisia debt default could cost country’s banks billions

A sovereign debt default by Tunisia could cost the country’s banking system billions of dollars, experts say. Tunisia is suffering a financial crisis that led to it seeking a $1.9 billion loan from the International Monetary Fund (IMF) in exchange for unpopular reforms, including cutting food and energy subsidies. S&P Global Ratings credit analyst Mohamed […]

People, Person, Woman, man, Shop

Tunisia’s economy grows 2.4% amid continued financial concerns

Tunisia’s economy grew 2.4 percent in 2022, according to its National Institute of Statistics, down from the 4.3 percent growth registered in 2021. Growth in the fourth quarter was 1.6 percent year-on-year. Manufacturing was up 6.6 percent on 2021 and services 2.6 percent, although the latter slowed in comparison to previous quarterly growth of 3, […]

Esports and gaming is big business across the world

Egyptian gaming startup acquires Tunisian rival Galactech

Egyptian startup GBarena, an esports platform operating across the Middle East, has acquired Tunisian rival Galactech in a share swap valued at $15 million. The deal comes as GBarena prepares to close its Series A funding later this year, with participation from investors in the US, Singapore and the Middle East and North Africa (Mena) […]

Worker, Person, Solar Panels

Tunisia steps up solar ambitions with launch of new tenders

Tunisia has released tenders for two solar power projects as the North African country seeks to deliver 35 percent of its energy needs through renewables by the end of the decade. The Ministry of Industry, Mines and Energy is seeking companies to implement the solar photovoltaic (PV) independent power projects (IPPs). Both will have capacity […]


Record deficit: Tunisia’s trade deals in numbers

Tunisia posted a record 55 percent increase in its trade deficit in 2022, reaching TND 25.2 billion ($8.18 billion), according to figures released by the National Institute of Statistics. As the North African country battles an economic crisis, the deficit increase was attributed largely to the loss of trade with several key countries, including China, […]

A Nouvelair plane on the tarmac at Lyon-Saint Exupéry airport in France. The airline carried 1.3m passengers in the year to November

Tunisian government to sell its 24% stake in Nouvelair

Tunisia’s state-owned investment company, Al Karama Holding, plans to sell its shares in Nouvelair and Nouvelair Handling this month, according to national press agency Tunis Afrique Presse. The move comes as the Tunisian government attempts to raise 656 million dinar ($210.2 million) through privatisation and the sale of companies confiscated from establishment figures after the […]