Tunisia’s economy starts to rebound but structural issues persist – IMF

IMF approved $249m loan to Tunisia in July as part of four-year reform plan. Tunisia’s economy is displaying signs of economic recovery following difficult years since the Arab Spring, but remains dependent on consumption and imports, with weak investment and high levels of unemployment, prompting calls from the International Monetary Fund to cut its fiscal deficit and stabilise public debt. “There are some encouraging signs that economic activity is picking up,” said Björn Rother, IMF economist and head of staff for Tunisia, in a note on Friday following a visit…

Tunisian industrialist should enjoy tax benefit as part of 2019 finance bill (Tarek Cherif)

The Tunisian industrialist who does not have any advantage will benefit, as part of the finance for the 2019 financial year, from a tax advantage or a bonus of 2 to 3% of the interest rate applied on bank credits, said Tarek Cherif, president of the Confederation of Tunisian Citizen Enterprises,(CONECT). In a statement to TAP, the official recalled that the Tunisian industrialist who faces several problems (heavy administrative management, funding problems, personnel management …) and traders should not be subject to the same tax regulations. The President of CONECT also…

Tunisair Adding Tozeur – Lyon Service from October

From an anticipated date of October 01, Tunisair is adding a Tozeur – Lyon route. A Boeing B737-600 aircraft is scheduled to operate this route once a week, on Mondays. Tozeur is an oasis and a city in south west Tunisia, located north-west of Chott el Djerid, in between this Chott and the smaller Chott el Gharsa. Lyon, the capital city in France’s Auvergne-Rhône-Alpes region, sits at the junction of the Rhône and Saône rivers. Its centre reflects 2,000 years of history including the Roman Amphithéâtre des Trois Gaules and…

Central Bank of Tunisia keeps key interest rate unchanged at 6.75 pct

The Central Bank of Tunisia (BCT) kept its key interest rate unchanged at 6.75 percent on Thursday, the bank said. Annual inflation rate eased to 7.5 percent in July from 7.8 percent in June, official data showed. In May the central bank raised the key interest rate by 100 basis points to 6.75 percent, the second hike in three months, to tackle inflation. The BCT board of Directors noted during its meeting the ongoing inflationary pressures despite the slight improvement in the inflation rate recorded in July, which reached 7.5%…

Tunisia: SFBT reaches $1.45 billion of market capitalization

On August 27, 2018, Société de fabrication des boissons de Tunisie (SFBT) became the first company listed on Tunis stock exchange to reach TND4 billion (about $1.45 billion) of market capitalization. This level capitalization was reached when the local subsidiary of Castel group ‘s shares was listed at TND24.300 each. While Tunisia’s economy is slowly growing after lean years, due to the political and security turmoils that followed the revolution of 2011, the brewery is showing a really strong financial health. Indeed, the company announced that during Q1, 2018, its net profit grew by…

Tunisia sees 2019 economic growth rising to 3.5 pct

Tunisia expects economic growth to accelerate to 3.5 percent of next year from the 2.9 percent expected in 2018, driven by a recovery of the tourism industry and an expanding agricultural sector, a minister told Reuters on Wednesday. Minister of Reforms Taoufik Rajhi also said the government planned to reduce the budget deficit to 3.9 percent next year from the 4.9 percent forecast for 2018. The key tourism sector has begun to recover three years after two militant attacks which killed scored of foreigners. Tunisia expects to receive eight million…

Over 5 Million Tourists Visit Tunisia in 8 Months

The nuber of tourist reached 5.15 million in Tunisia since the start of the year as of August 20, a 17.5% leap  on the same period in 2017, the head of the Tunisian tourism ministry’s cabinet, Nabil Bziouech, said. He pointed out  that this number led to a 44% increase in the sector’s revenue on the same period last year. The Tunisian government has forecast in 2018 the arrival of 8 million tourists given the improvement of the general situation of security in the country and the gradual return of…

Tunisia gets offers in soft wheat, barley tender

The lowest offer in the international tender from Tunisia’s state grains agency to buy up to 50,000 tonnes of soft wheat is $238.25 a tonne  The lowest offer in the international tender from Tunisia’s state grains agency on Friday to buy up to 50,000 tonnes of soft wheat is $238.25 a tonne c&f, European traders said. No purchase has yet been made and results are expected later on Friday, they said.  This was followed by other offers for the soft wheat including $238.60 a tonne c&f and $239.50 a tonne.…

Tunisia : Telnet Holding to soon establish a subsidiary in the United States

Telnet Holding, a Tunisian Computer systems design services company, has just been granted all the required authorizations to establish a subsidiary in the United States. Baptised Telnet Corporation, this new subsidiary falls within the framework of the group’s strategic direction which is focused on diversifying its international market. Let’s remind that Telnet Holding has already established subsidiaries in France, Germany and the United Arab Emirates. Apart from its IT engineering and consultancy services, the company listed on Tunis stock exchange also creates telecommunication, automobile, avionics, security, defense and electronic software…

UN-AU Conference Showcases ICT Innovations to Attract Youth to Agriculture

-Discussing the role of ICTs in making the rural sector more attractive for young people, FAO Director-General José Graziano da Silva noted the need to “think beyond farm jobs,” and explore employment opportunities across entire agri-food value chains. -In a related initiative, FAO and its partners are supporting a series of #HackagainstHunger events to engage young people from different countries in Africa to find innovative solutions that address challenges in food and agriculture. A two-day conference on youth employment in agriculture has highlighted opportunities to tap the potential of Africa’s…