In-Depth Analysis
Tunisia
GDP growth has picked up gradually in line with a rebound in tourism revenues and the implementation of reforms that form part of an IMF support programme, but labour protests continue to present risks to the outlook as high unemployment, rising inflation, and poor working conditions fuel social tensions and slow the pace of further reforms.
Real GDP growth ticked slightly higher from 1.1% y-o-y in 2019 Q1 to 1.2% y-o-y in 2019 Q2, due to marginal gains in the agricultural and services sectors. Manufacturing and industry remain weak as external headwinds, relating to the US-China trade war, continue to suppress global economic growth, battering local industry and demand for manufactured goods. Overall, economic growth is forecast to decline from 2.5% in 2018 to 1.3% in 2019. Following Tunisia’s elections, no party came close to winning a majority in Parliament. The presidential election delivered the victory to Kaïs Saïed, an austere and anti-establishment figure. (Source: Tunisia Quarterly Update, published November 2019)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
-4.4 |
|
Consumer Price Index (% change y-o-y, avg) |
7.3 |
|
Current Account Balance (as a % of GDP) |
-11.1 |
|
Real GDP (annual % change) |
2.5 |
|
GDP per Capita, US$ |
3,447.6 |
|
Import Cover (months) |
2.7 |
|
Population, million |
11.6 |
| Total External Debt (as a % of GDP) |
87.0 |