Tunisia's Current Account Deficit Narrows on Tourism Boost-Cenbank GovernorSource: www.export-egypt.com 2/7/2020, Location: Africa |
|
|
|
|
|
Tunisia’s current account deficit has narrowed compared to a year ago, the central bank governor said , citing more tourism revenue and a stronger dinar.
In televised comments to parliament, Marouane el Abassi said the deficit had narrowed to 8.8% of gross domestic product in the year-to-date from 11% in the previous 12 months. “Tourism revenue growth of about 35% in 2019 contributed to reducing the current deficit and improving the currency,” Abassi said. The dinar strengthened by 8-9% over the past six months against both the euro and the dollar following years of depreciation that had cut its value by 20%, he said. “The IMF was in favour of the dinar sliding to support exports, but our view was different, that the falling dinar would raise inflation,” he said, adding that the stronger currency was helping to reduce the trade deficit. However, declining production of phosphates, long a mainstay of the Tunisian economy, had cost the country $6.7 billion over the past six years, he added. Phosphate output has declined since the 2011 revolution, hit by numerous labour strikes and road blockages by local people demanding jobs. |
|
|
Financials and Investment News in Tunisia >> |
 |
|||||
|
Egypt >> 9/19/2024 - Egypt is having a special participation at the IFTM-Top Resa exhibition, which lasts until Sept.19 in Paris.
Egypt’s pavilion has more than... |
Egypt >> 9/18/2024 - On his first visit around the region since his appointment, Jalel Trabelsi, the Special Envoy of the African Development Bank (AfDB), praised Egypt's ...
|
|
Egypt >> 9/18/2024 - On his first visit around the region since his appointment, Jalel Trabelsi, the Special Envoy of the African Development Bank (AfDB), praised Egypt's ...
|
Egypt >> 9/18/2024 - Benchmark index EGX 30 was up 0.61 percent to 30,342.46 points, with the Shariah index climbing by 0.20 percent to reach 2,879.64 points.
E... |
|
Egypt >> 9/18/2024 - The British company Globeleq is set to collaborate with the Egyptian government in establishing a substantial project for green hydrogen production, a...
|
Egypt >> 9/18/2024 - Deputy Prime Minister and Minister of Health and Population Khaled Abdel Ghaffar asserted the importance of cooperating with South Africa in the field...
|
| Tunisia Oil & Gas 1 >> 2 | |
