Economy 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. […] June 8, 2023
Transport 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 […] June 1, 2023
Economy 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 […] May 17, 2023
Economy 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 […] April 13, 2023
Banking & Finance 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 […] February 20, 2023
Economy 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, […] February 16, 2023
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) […] January 26, 2023
Energy 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 […] January 18, 2023
Economy 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, […] January 13, 2023
Aviation 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 […] January 3, 2023
Analysis Tourism Diversification is key to Tunisian tourism recovery Tunisia must diversify its tourism offerings, according to experts, as the country continues to chart a course of recovery from the effects of the coronavirus pandemic. The number of foreign visitors to the North African nation in 2022 is forecast to reach over 6 million, as revealed by Lofti Mani, central director of promotion at […] January 2, 2023
Economy Tunisia looks to boost trade with African neighbours Tunisia is looking to increase trade with its African neighbours, particularly sub-Saharan countries, amid an expected slowdown in business with Europe. Geopolitical tensions arising from the Russian invasion of Ukraine have fuelled international inflation levels, which could impact levels of trade between Tunisia and its European partners, according to Mélanie Laloum, lead economist, global policy, […] December 17, 2022
Opinion Economy Tunisia’s president must strike balance between unions and IMF Distrust in the Tunisian government and its commitment to reform has hampered negotiations with the IMF over the size of the requested loan November 8, 2022
Trade UK drinks firms raise glass to Morocco and Tunisia trade deal British drinks companies have raised a glass after the UK removed trade barriers that deterred alcohol sales to Morocco and Tunisia. The changes in the countries, which extends to Argentina and Angola as well, will help the UK’s products to reach millions of new potential customers and boost alcohol exports, which reached £6.5 billion last […] October 17, 2022
Economy Tunisia’s annual inflation rises to 8.6% in August 2022 Tunisia’s annual inflation jumped to 8.6 percent in August 2022 from 8.2 percent in July 2022, Agence Tunis Afrique Presse reported, citing the National Statistics Institute. Food prices went up 11.9 percent in August year-on-year, mainly due to the price rise of eggs, poultry, edible oils, fresh fruits and vegetables. The core inflation rate, excluding […] September 6, 2022
Economy Rising tax revenues helps shrink Tunisia’s H1 2022 budget deficit Tunisia’s budget deficit improved to TND470.8 million ($147.92 million) in H1 2022 from TND1.9 billion in the same period last year, state news agency TAP reported, citing the finance ministry. This lower deficit is mainly driven by higher budgetary resources, which grew to TND19.3 billion in June 2022 from TND15.8 billion in June 2021 as […] September 1, 2022
