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 slowed to just 1.1% y-o-y in 2019 Q1 compared to an expansion of 2.1% y-o-y in the previous quarter. Unfortunately, the outlook is also not particularly encouraging, prompting a sharp downward revision of our GDP growth forecast for 2019. Downside growth drivers include persistent protests in the lead up to the elections, rising global trade tensions adversely affecting demand for Tunisia’s exports, in addition to agriculture entering a natural contraction cycle. Demand-side activity, in contrast, should strengthen this year, supported by lower inflation and higher wages. (Source: Tunisia Quarterly Update, published May 2019)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
-4.6 |
|
Consumer Price Index (% change y-o-y, avg) |
7.3 |
|
Current Account Balance (as a % of GDP) |
-4.0 |
|
Real GDP (annual % change) |
2.6 |
|
GDP per Capita, US$ |
3,448.3 |
|
Import Cover (months) |
3.2 |
|
Population, million |
11.7 |
| Total External Debt (as a % of GDP) |
84.7 |