In-Depth Analysis
Tunisia
As a fairly developed country, Tunisia is exposed to the economic shocks relating to Covid-19, which has resulted in the worst recession since the country’s independence in 1956. Low inflation, countercyclical fiscal policies, robust international support and a stable exchange rate still provide support, while good institutions, deep ties with Europe, and a diversified economy are expected to underpin recovery.
Real GDP growth disappointed in Q3 and the unemployment rate now exceeds that at the onslaught of the pandemic in 2020. Tunisia is facing multiple socio-economic challenges. The government has resumed talks with the IMF to secure a $4bn loan and is attempting to balance economic reforms required by the IMF with demands put forward by local bodies such as the UGTT. The president took the first step towards reducing the colossal government wage bill, but remains unyielding on strict price regulations. (Source: Tunisia Quarterly Update, published December 2021)
Macroeconomic Data
(2020)
|
Fiscal Balance (as a % of GDP) |
-9.9 |
|
Consumer Price Index (% change y-o-y, avg) |
5.6 |
|
Current Account Balance (as a % of GDP) |
-6.0 |
|
Real GDP (annual % change) |
-9.4 |
|
GDP per Capita, US$ |
3,544.6 |
|
Import Cover (months) |
5.7 |
|
Population, million |
11.8 |
| Total External Debt (as a % of GDP) |
98.0 |