Additional deficit of 2016 State budget due to decline in phosphate production, crisis in tourism sector and low investment (Zribi) | Tunisia News Gazette

Additional deficit of 2016 State budget due to decline in phosphate production, crisis in tourism sector and low investment (Zribi)

According to preliminary forecasts, the additional deficit of the State budget for the financial year 2016 is due to the decline in economic activity, notably in the production of phosphate, the crisis in the tourism sector and decrease in Investment, said Finance Minister Lamia Zribi.

Answering the questions of the deputies on the 2016 supplementary budget bill, in a plenary session held Tuesday in the House of the People’s Representatives (HPR), the minister stressed that the draft law provides for the revision of assumptions about the rate of growth, the price of hydrocarbons and the exchange rate.

She added that the implementation of the budget showed a decrease in resources of 1,219 million dinars and an increase in expenditure compared with the forecast of the 2016 budget.

Zribi also said that the use of complementary finance laws depends on the evolution of the juncture and is based on precise forecasts of the economic situation.

In the last period, the minister added, neighboring and European countries have used complementary financial laws annually, in the light of economic changes at the global and national levels.

Regarding the tax benefits bill, Zribi reminded that it has been presented to the HPR since last May and has not yet been debated.

Source: TAP news Agency

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