Tunisia Economic Outlook
November 27, 2018
Economic growth slightly softened in the third quarter, largely due to a sharp downturn in the oil and chemicals sectors. Meanwhile, the country’s political crisis worsened in recent weeks, boding poorly for growth in Q4 and beyond. Amid growing tensions with President Essebsi, on 5 November Prime Minister Youssef Chahed reshuffled his cabinet. Two weeks later, on 22 November, 650,000 public workers went on strike to protest the government’s refusal to raise wages. The decision followed pressure by the IMF and threats to cut Tunisia’s funding, which could have dealt a crippling blow given the country’s rapidly depleting foreign reserves.Tunisia Economic Growth
Growth should be steady next year, supported by the revival of the tourism industry—although a recent suicide bombing could dent the long-awaited recovery. However, the country’s elevated fiscal and trade deficits, high youth unemployment, public unrest and growing political instability all present downside risks to its economic outlook. FocusEconomics panelists expect GDP growth of 2.6% in 2019, unchanged from last month’s forecast, and 3.1% in 2020.Tunisia Economy Data
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Tunisia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 6.97 | 0.0 % | Mar 15 |
| Exchange Rate | 2.96 | -0.27 % | Dec 10 |
| Stock Market | 0.1 | 0.05 % | Dec 04 |
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