29 June 2016
The deficit of the current account balance has widened in Q1 2016 (1,758 MTD or 1.9% of GDP against 1,368 MTD or 1.6% of GDP in the same period 2015), and this despite the net decrease in the energy bill, according to the Central Bank of Tunisia.

This under-performance reflects essentially developments relating to the sharp drop in tourism revenues to 282 MTD against 583 MTD (Q1 2015), i.e. a decrease of 51.7% and the worrying decline in labour income by 13.7% compared with Q1 2015 to 772 MTD from 895 MTD.

The deterioration of the current account deficit coupled with the weakening of the FDI and the sharp deterioration of the general balance of loans and borrowings has greatly affected the overall balance of payments, thus inducing a decline in foreign exchange reserves, the BCT analysed.

It said in conclusion that the continuation of the current deficit at high levels since 2012 (over 8% of GDP) can only fuel the pressures on the exchange rate of the dinar against major currencies.

© Tunis-Afrique Presse 2016