Month: September 2023

Tunis will host the first IFRIQUIA ENERGY HUB from September 18 to 20, 2023, at the City of Culture. This major event, which will bring together the energy community in Tunisia and Africa, is organised by the Tunisian Energy Professionals Association (TENS, Tunisia Energy Society) with the support of several institutional partners such as the Entreprise Tunisienne des Activités Pétrolières (E. T.A.P.), the Agence Nationale pour la Maitrise de l’Energie(A.N.M.E.), AGIL Energy, the Green Hydrogen Organization (GH2), the Association Tunisienne du Pétrole et du Gaz (A.T.P.G.), the Societe Tunisienne de…

Tunisia’s fiscal deficit is expected to narrow to 5.8% of GDP in 2023, with the surplus reported in 1H23 unlikely to be sustained, Fitch Ratings said believing some costs relating to subsidies and transfers over the period have not yet been captured in the budget numbers. Tunisia posted a budget surplus of TND58.8 million (around 0.4% of GDP) in 1H23, influenced by lower-than-expected spending which reached only 38% of the full-year budgeted level. Subsidies and transfer expenditure in 1H23 was just 27% of the annual budget. We expect energy and…

Inflation rose to 9.3% in August 2023 after five consecutive months of decline, compared with 9.1% in July 2023 and 9.3% in June 2023, the National Statistics Institute (INS) announced on Tuesday. This rise in inflation is due to an acceleration in the rate of price increases between August and July of this year compared with the same period last year, particularly in the “Food” group, where the year-on-year increase in prices rose from 14.2% to 15.3%, the “Alcoholic beverages and tobacco” group (from 1.8% to 4.6%) and the “Hotels…

The Arab Authority for Agricultural Investment and Development (AAAID) will support agricultural development projects in the governorate of Sidi Bouzid as part of the “Central Production Market Platform Project”, which covers 70ha at a total cost of TND 116 million. This project was the focus of a meeting held on Tuesday between the Minister for the Economy and Planning, Samir Said, and the Chairman of AAAID, Mohammed bin Obaid Al Mazrooei. AAAID will contribute TND 22.3 million to the capital of the company managing this project. The two parties also…

A delegation from the Pakistani company TARIQ GLASS INDUSTRIES LTD, comprising Mr Mohamed Baig, Deputy Managing Director, and Mr Mustafa Baig, Technical Director, visited FIPA-Tunisia on September 1, 2023. TARIQ GLASS INDUSTRIES LTD is the leading glass manufacturer in Pakistan. It has grown from a family business established in 1982 to a company listed on the Pakistan Stock Exchange. It produces over 1,500 tonnes of float glass, glass for tableware and containers (opal and pharmaceutical glass). The company exports to 50 countries. According to FIPA, during the meeting, the company’s…