Tunisia expects growth of 2.5% in 2016

Tunisia expects growth of 2.5% in 2016

Tunisia expects growth of 2.5% in 2016

Tunisia expects growth of 2.5% in 2016

Tunisia expects growth of 2.5% in 2016

Tunisian Finance Minister Salim Shakir said that his country’s prospects for economic growth next year to 2.5% this year, compared to half a percentage point.

Shaker said – in a statement to the official news agency – that Tunisia intends to carry out reforms in the banking sector, along with tax reforms to curb the flight of foreign investment from the country.

The Tunisia has lowered the expected economic growth for the current year from 3% to half a percentage point after armed attacks on tourist facilities caused great damage to the tourism sector, in addition to strikes and labor protests in the phosphate sector disrupted vital sector exports. The country recorded a growth in gross domestic product by about 2.3% last year.

Tunisian government expects to shrink the budget from 5.8% in last year’s deficit to 5% in the current year. The country is facing pressure from international lenders to cut public spending, including support for basic foodstuffs, fuel and wages.

Tunisia and lives in recent years, significant financial difficulties resulting from the significant decline in the state treasury revenues, especially from hard currency derived from the struggling tourism sector, and foreign investment sector, which due to the deterioration of security tensions and strikes.

Tunisia’s public debt has reached 53% of GDP compared to 38% in 2010, the external debt accounts for 61% of the public debt, which represents 30% of GDP.

And Tunisia is preparing to enter into new negotiations with the International Monetary Fund to obtain a new loan of $ 1.74 billion in installments along the lines of the loan it received in 2013.