BCT keeps rates unchanged on stable inflation

The executive board of the Central Bank of Tunisia (BCT) kept interest rates unchanged after a meeting held Monday, as inflation proved stable. Interest rates have remained at 6.75% since June. The central bank has increased the key policy rate by 175 basis points in 2018 in a bid to tackle inflation, falling reserves and the depreciation of the dinar. Prices rose year-on-year by 7.4% in November and inflation has been recorded at that level for three consecutive months. TunisianMonitorOnline   Share1+1TweetShare1 Shares

HPR approves 2019 budget

The Tunisian House of the People’s Representatives (HPR) on Monday approved the 2019 budget which will impose no new taxes on citizens and will cut the tax burden for some sectors, after years of tax hikes that have stoked public anger and sometimes violent protests. The budget showed a deficit falling to 3.9 % of gross domestic product (GDP) in 2019, from about 5 %  expected this year. Next year budget expects Tunisia’s economy to improve in 2019 by 3.1 %, up from an estimated 2.6 %  this year. The government will impose…

Third round of negotiations with EU on DCFTA starts

Tunisia started Monday, in Brussels, Belgium, the third round of negotiations with the European Union (EU) on the draft agreement of the Deep and Comprehensive Free Trade Areas (DCFTA). Great hopes are expected to reach exceptional measures by the Europeans in favour of strategic sectors. Chief negotiator of the DCFTA and Minister of Transport Hichem Ben Ahmed underlined, at the opening of the negotiations held on December 10-14, 2018, with attendance President of the European group negotiator Ignacio Garcia Berciro, that Tunisia’s interest in the development of negotiations that have made good…

Ministry of Industry launches call for tender to build solar plant and wind farm in Tunisia

The Ministry of Industry has launched a call for tender to build and manage a solar plant and wind farm in Tunisia. According to the Ministry, 16 companies and consortiums were pre-selected to contend for the bid to provide and manage a 500-megawatt solar plant, and 12 companies were pre-selected to compete in the bid for building and managing a 300-megawatt wind farm. The Italian energy giant Enel is vying for the solar plant project along with other companies including international energy giants such as Saudi Arabia’s ACWA Power, the…

“Doing business”: WB makes available to Tunisia human and financial resources to improve its ranking

The International Finance Corporation (IFC), a member of the World Bank (WB) Group, provides Tunisia with all the necessary financial and human resources to help it ranks 50th globally and third in the Arab World and Africa in the 2020 Doing Business report, said its Resident Representative in Tunisia, Georges Joseph Ghorra. The institution will form work teams to determine the indicators related to this report that Tunisia could easily develop and improve, he added at a conference in Tunis for the presentation of the work strategy agreed to improve…

EBRD Supports Microfinance in Tunisia (The Financial)

The EBRD is strengthening access to local currency loans for micro, small and medium-sized enterprises (MSMEs) by signing a credit line with Enda Tamweel, the largest microfinance institution in Tunisia, the Financial reports. The Bank’s MSME credit line of €5 million (TND17 million) will increase the availability of financing for Tunisian small businesses. In a country with a population of 11 million people, the SME sector plays an integral role in the Tunisian economy. However, only 15 per cent of MSMEs in the country have bank loans, while 58 per…

Tunisia’s inflation stable at 7.4 % in November

Tunisia’s inflation rate remained at 7.4 % in November, the third consecutive month at that figure, official data showed on Wednesday, according to Reuters. Inflation has fallen from 7.5 % in August and 7.8 % in June, Reuters added. In May, Tunisia’s central bank raised its key interest rate by 100 basis points to 6.75 %, the second hike in three months, to tackle inflation. TunisianMonitorOnline     Share2+1TweetShare2 Shares

Tourism revenues up by 40.5% (late  November 2018)

The tourism sector indicators improved clearly in terms of revenues to reach nearly 3.7 billion dinars by late November 2018, up 40,5% compared to the same period of 2017, said Minister of Tourism and Handicrafts Rene Trabelsi. At a plenary session in the House of People’s Representatives on Wednesday on the draft budget of the Ministry of Tourism and Handicrafts for 2019, Trabelsi said that the number of tourists has posted a 17.2% rise to the end of November 2018, compared to last year, reaching 7.5 million tourists. This leap…

Tunisian-South African joint business council to be created

A joint Tunisian-South African business council will be created soon, announced Abdessalem Loued, member of The Tunisian Confederation of Industry, Trade and Handicrafts (UTICA) national bureau, and Bulelani Magwanishe, South African vice-minister of Trade and Industry, at a meeting held on Tuesday in Tunis, “Both sides agreed on the creation of this Joint Business Council and a Tunisian business mission to South Africa during the year 2019” is scheduled, according to a statement issued Wednesday by UTICA. The two leaders also discussed at this meeting, the areas of activity available…

Two USAID-funded projects inaugurated in Sidi Bouzid

Two projects funded by the United States Agency for International Development (USAID) were inaugurated Tuesday in Sidi Bouzid, according to TAP news agency. They concern an urban park project in Ouled Chebli in the delegation of Sidi Bouzid and the project of the redevelopment of the youth centre in the delegation of Souk Jedidi. These projects are part of the Programme “Sharekna”, a project to Support Youth and Empower Local Communities”, conducted by Family Health International “FHI 360” in Tunis, Sidi Bouzid, El Kef, Manouba and Ariana, TAP reports. The…