OPPOSITE TRENDS CHARACTERISE TUNISIA'S ECONOMY IN EARLY 2018, SAYS IMF | Tunisia News Gazette

OPPOSITE TRENDS CHARACTERISE TUNISIA’S ECONOMY IN EARLY 2018, SAYS IMF

TUNIS, Tunisia- The Tunisian economy is characterised by opposite trends in early 2018, and risks to macroeconomic stability have also risen, though economic growth is picking up, said the International Monetary Fund (IMF), on Friday.

“Opposite trends continue to characterise the Tunisian economy in early 2018. Economic growth is picking up, led by a good agricultural season, increases in investment and an early recovery in exports,” IMF said.

“On the other hand, risks to macroeconomic stability have risen: inflation has risen rapidly to 7.6 percent, in Mar, international reserves remain below 90 days of import cover, and public and external debts have reached 71 percent and 80 percent of GDP, respectively,” the IMF mission also said.

The IMF mission paid a visit to Tunisia on Apr 4-11, to discuss the country’s recent economic developments and its economic reform programme, supported by a four-year IMF Extended Fund Facility arrangement, by which a country can borrow money to address its structural problems, typically over a three- to four-year period.

The IMF mission warned that, any further increase in the public-sector wage, which is quite large currently, would risk being uncontrollable “unless growth surprises on the upside.”

In early Apr, Tunisian Prime Minister, Youssef Chahed, launched a series of major reforms in the coming two years, which focus on four main aspects, namely, the social fund, public enterprises, the civil service, as well as, the compensation system.

The prime minister also prioritised plans regarding tax reform, administration modernisation, financing of the economy and the fight against corruption.

Source: NAM NEWS NETWORK

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