Tunisia Economic Outlook
June 7, 2022Although annual growth rose in Q1 thanks to a favorable base effect, quarter-on-quarter growth weakened slightly, largely due to reduced agricultural and service sector activity. The agricultural sector was negatively affected by general economic uncertainty, which led to a reduction in investment by farmers, while the service sector was hit by weak private consumption in the face of rising inflation. However, growth was supported by the industrial and public sectors. In Q2, the country remains on the precipice of a balance-of-payments and political crisis. International reserves have dwindled to fewer than four months import cover amid rising energy prices. An IMF deal is urgently required, but it is being blocked by the main trade union, which has called for a strike for 16 June to protest IMF demands for public spending cuts.
Tunisia Economic GrowthGDP growth will be among the weakest in the region this year. Rising energy and food prices will dent private spending, as well as the fiscal and external balances, offsetting the positive effect of diminishing Covid-19 restrictions and a recovery in tourism. The outlook hinges on an IMF deal, with the political situation and volatile commodity prices posing downside risks. FocusEconomics panelists foresee GDP growing 2.6% in 2022, which is down 0.2 percentage points from last month’s forecast, and expanding 2.9% in 2023.
Tunisia Economy Data
5 years of Tunisia economic forecasts for more than 30 economic indicators.
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|Bond Yield||7.45||0.0 %||Sep 15|
|Exchange Rate||2.78||-0.27 %||Jan 01|
|Stock Market||0.2||0.05 %||Jan 07|
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