Olive oil export revenues increase 30% since campaign beginning

(TAP) – Exports of olive oil have reached 1,941 million dinars (MD) since the beginning of the campaign (November 2021/August 2022), up 30.1%, compared to the same period of the previous campaign (2020-2021), according to data from the National Observatory of Agriculture (ONAGRI), published on Friday.

 

The average price of olive oil has increased 38%, from 7.66 dinars per kg, to 10.57 dinars per kg.

 

In terms of quantity, exports have dropped 5.7% to reach 184,000 tonnes, against 194.8 thousand tonnes recorded during the 2020/2021 campaign.

 

Source: TAP News Agency

Tunisia’s wage agreement raises likelihood of IMF deal (Fitch Ratings)

(TAP) – Fitch Ratings said Thursday that it believes the reported agreement between the government and The Tunisian General Labour Union (UGTT) on public-sector wages removes a key hurdle to an International Monetary Fund (IMF) lending programme. Fitch Ratings views this programme «as key to Tunisia’s external liquidity and credit rating,» according to the statement.

 

“Tunisia will continue to benefit from international support, in our view. Our forecasts assume the country will secure an IMF deal in the second half of the current year, unlocking additional financing from official creditors in November-December,» the rating agency said.

 

The government and the UGTT, on Thursday, inked an agreement on a 5% increase in gross wages in the public sector over the period 2023-2025, after months of negotiations.

 

The agreement comes after Tunisia’s underlying budget performance improved in the first half of the year, although the reported low deficit figure was flattered by delays in subsidy compensation payments.

 

According to FR, the government made headway in managing the underlying fiscal position in the first half of 2022, even if tight liquidity may have played a role. Revenue collection was strong, while wage expenditure appears to be tracking close to budgeted levels for 2022 and will likely be contained over the medium term as a result of the deal with the unions.

 

«The government reported a budget deficit of TND471 million in the first half of 2022, equivalent to 0.3% of our forecast for full-year nominal GDP in 2022,» the agency said.

 

Substantial new funding committed or accelerated by official creditors since March has already enabled Tunisia to start catching up on delayed subsidy compensation payments, FR added.

 

«The Grain Office, in charge of buying food products on international markets and distributing them at lower prices in Tunisia, did not receive new transfers from the government to cover subsidy costs between March and June and resorted to borrowing from public banks with a government guarantee.»

 

«The central government also delayed some subsidy compensation payments to STEG, which provides subsidised electricity and gas. Arrears accumulated during the second quarter of 2022 amounted to at least TND800 million, or 0.6% of GDP.»

 

The rating agency expects that overall subsidy spending in 2022 will be equivalent to 8.2% of GDP, compared to the 1.5% reported in June for the first half of 2022. This, along with a rise in capex in the second half of the year, will underpin a much wider fiscal deficit at the end of the year. The agency estimates that if spending on subsidies had been equal to its 2021 level, the full-year 2022 deficit would be closer to 4.5% of GDP, compared to forecasts of 8.5%, and the 7.1% recorded in 2021.

 

Although it expects the agreement between Tunisia and the IMF to be signed in November-December, Fitch Ratings points out that its baseline scenario carries risks.

 

“Further delays in agreeing on a deal with the IMF or in implementing reforms, causing a further worsening of Tunisia’s debt sustainability metrics, could lead the IMF to require Tunisia to restructure its debt,» FR mentioned.

 

«Signs that a default was becoming more probable could result in a downgrade to Tunisia’s ‘CCC’ rating.»

 

Source: TAP News Agency

Agricultural produce: Tunisia not fully using up preferential export quotas granted by EU

(TAP)- Tunisia is not fully using up the preferential export quotas granted by the European Union in connection to thirteen agricultural products, it emerges from a study entitled “How to Improve Food Security in Tunisia: Step up Mutual Trade and Investment Links with the EU.”

 

The study, recently published by German foundation Bertelsmann Stiftung, was conducted by economists Houssem Eddine Chebbi and Markus Overdiek. Tunisia needs additional EU short-term support to boost agricultural investments and tackle Russia-Ukraine conflict induced challenges, the authors underlined.

 

Agricultural produce with strong export opportunities while not meeting the real potential include olive oil (export opportunities: US$534 million, real exports: US$407 million), dates (export opportunities: US$249 million, real exports: US$129 million), fresh tomatoes (export opportunities: US$44 million, real exports: US$41 million).

 

Tunisia needs to make a thorough analysis, based on up-to-date and accurate statistics, of its agricultural production to develop its future strategies for target products.

 

One of the main objectives would be to “engage in talks with the European bloc and increase export quotas for strategic products such as olive oil. This would have a positive impact on the national economy and consequently the country’s stability.”

 

Source: TAP News Agency

Number of attacks against journalists down in August 2022 (SNJT)

(TAP) – The number of journalists who were victims of physical assault dropped considerably in August 2022 compared to July of the same year, from 48 to 15, the Monitoring Unit of the National Union of Tunisian Journalists (SNJT) said Friday in its latest report.

 

The attacks were committed against 28 journalists (14 men and 14 women) operating in 15 public and private media,” the monitoring unit pointed out.

 

Eight radio stations, two TV channels, two websites and three news agencies were listed by the unit.

 

In the report, which was posted on the SNJT’s website on Friday, the Monitoring Unit denounced the continued attacks against journalists and warned against more violence on social networks.

 

The report indicates that the attacks were perpetrated mainly in Tunis (8 cases), Kairouan (3), Gabes (1), Sfax (1), Sousse (1) and Medenine (1).

 

Source: TAP News Agency

Interior Spokesperson stresses concern to apply law to all without exception (press briefing)

(TAP) – Interior Ministry spokesperson Fadhila Khelifi, on Friday, stressed the department’s concern to apply the law and respect its provisions, referring to the latest arrests related to terrorism and sending young people to conflict zones.

 

Speaking at a press briefing, she noted that the department’s missions in the investigation of these cases are carried out on the orders of the prosecutor’s office and in perfect coordination with the judicial authorities.

 

«The department is committed to applying the law and investigating any suspicious person.»

 

Referring to the complementarity between security and justice work, the spokesperson said two wanted warrants were issued against a prominent official and his son-in-law, who were on the run abroad. They would be heard in a case of corruption within the Tunisian customs service, amounting to billions of dinars.

 

Moreover, the Interior Minister had previously spoken of the possible involvement of this official in this corruption case.

 

On another level, she denied the existence of tensions within the department in connection with police unions. According to her, the decisions taken by the minister, who had in previous statements criticised the security unions, had not divided the members of the institution. The ministry always listens to all its employees, she stressed.

 

Khelifi stressed the respect of the trade union right, and the commitment to apply the law to all without exception, including members of the security institution if they commit offences.

 

Source: TAP News Agency

ISIE starts preparations for December 17 legislative elections (Bouasker)

(TAP) – President of the Independent High Authority for Elections (ISIE) Farouk Bouasker said Friday in Hammamet that the electoral authority, currently made up of five members, has officially started preparations for the December 17 legislative elections, after the promulgation of the decree-law amending the electoral law and the decree convening voters.

 

He was speaking to TAP on the margins of the opening of a two-day working session in Hammamet, on the evaluation of the conduct of the July 25 referendum and preparations for the legislative elections.

 

Bouasker said this decree-law was issued after coordination with the ISIE; indeed the body has consulted with the Presidency of the Republic and the legislative services of the Prime Ministry for the promulgation of this text, he assured.

 

The decree-law on elections was promulgated based on the proposals made by the ISIE, stressed the electoral authority president, adding the text meets the electoral standards.

 

Referring to calls to boycott the legislative elections, Bouasker said this decree-law does not exclude any party, adding that participation or not in the elections «remains a purely political issue.»

 

Reviewing the conditions of eligibility as set out in this new text, Bouasker cited the absence of a criminal record.

 

Regarding the electoral calendar, he said that the deadlines have not been changed; the vote will take place on December 17 inside the country and on December 15, 16 and 17 for Tunisians living abroad.

 

However, he said that the number of electoral districts abroad has increased from 6 to 10.

 

The electoral campaign will start 21 days before the December 17 date, i.e. at the end of November. The ISIE will first focus on updating the electoral register adopted during the July 25 referendum (7.2 million voters registered by choice or systematically).

 

The president of ISIE called on voters who wish to run for the next legislative elections to prepare their candidacy in advance so as to have all the time necessary to prepare their documents.

 

As for the changes made to the distribution of electoral districts in the country (151 in total), the president of the body explained that the ISIE has 27 local bodies, which will be reinforced by coordinations (local coordinator of the ISIE at the level of each district).

 

On another level, Bouasker said that the electoral body is currently working on filling the vacancy after two members of its council left.

 

Source: TAP News Agency