Economy of Tunisia

Tunisia's economic growth historically has depended on oil, phosphates, agri-food products, car parts manufacturing, and tourism.

The government liberalized prices, reduced tariffs, lowered debt-service-to-exports and debt-to-GDP ratios, and extended the average maturity of its $10 billion foreign debt.

The national dialogue platform, brokered by key civil society organizations, played a crucial role in gathering all major political parties.

US$ nominal) In 1992, Tunisia re-entered the private international capital market for the first time in 6 years, securing a $10-million line of credit for balance-of-payments support.

The World Economic Forum 2002-03 ranked Tunisia 34th in the Global Competitiveness Index Ratings (two places behind South Africa, the continent's leader).

More than 1,600 export-oriented joint venture firms operate in Tunisia to take advantage of relatively low labor costs and preferential access to nearby European markets.

On 29 and 30 November, Tunisia held an investment conference with country chiefs from all around the world with pledges that have reached $30 billion to finance new public projects.

As a result, the government announced in December 2022 that they expect to reduce its fiscal deficit to 5.5% in 2023 from a forecast 7.7% this year, driven by austerity measures that could pave the way for a final deal with the International Monetary Fund on a rescue package.

[30] Source:[31] On 20 April 2012, U.S. Treasury Secretary[32] and Tunisian Finance Minister Houcine Dimassi signed a declaration of intent[33] to move forward on a U.S. loan guarantee for Tunisia.

In the weeks ahead, both governments intend to make progress on a loan guarantee agreement that would allow Tunisia to move forward with a debt issuance.

The ceremony took place at the World Bank immediately following the meeting of Finance Ministers of the Deauville Partnership with Arab Countries in Transition.

[34][35] Enda Tamweel has made over 3 million microloans to over 900,000 people in the 30 years since its inception, infusing more than €1.6 billion into the local economy.

[36] In 2017, the breakdown by economic sector is as follows: Agriculture - products: olives, grain, tomatoes, citrus fruit, sugar beets, dates, almonds.

Olive grove in Sfax , Tunisia
Tunisian exports in 2006