Tunisia anticipates economic improvement in the medium term.
23 August 2011
Read by 1336 persons
Tunisia has reviewed its economic situation: security stability, loans from international credit organizations, and a development plan suggest a new economic dynamic for the coming years.
The Minister of Planning and International Cooperation, Abdelhamid Triki, stated that the first quarter of 2011 recorded negative growth, limited to 3.3%, while in the second quarter growth fell to less than 3%, according to initial estimates.
He specified that several indicators seemed to show a return to economic dynamism during the month of June, particularly the growth of value-added taxes to 80 and 100 million dinars and the improvement in the activities of certain economic sectors.
Furthermore, he indicated that the improvement of the national economy is closely correlated with security stability and the end of sit-ins and strikes in several public and private industrial units. He insisted that the supplementary Finance Act for the year 2011 includes a series of important projects and programs.
He even added that the second semester will certainly be better than the first, if and only if political and security stability is in place. Experts estimate the growth rate at 0.2%.
Mr. Triki mentioned the intervention of international credit organizations through the granting of loans worth 1,850 million dinars, distributed between the World Bank (700 MDT), the African Development Bank (700 MDT), the French Development Agency (370 MDT) and the European Union Commission (90 MDT).
"Until August 3, 2011, Tunisia received 1.6 billion dinars, including 500 million dinars from the AfDB and 85 million euros from the AFD during last July. On August 1 and 3, we reciprocally received the amount of 250 million dinars," he specified.
This aid from the AFD is explained by the strategy of its director Dov Zerah, who is keen to focus part of the aid on sub-Saharan Africa and the Mediterranean rim, countries with the greatest needs. Previous decisions by the leaders focused on projects related to education, improving interest rates, agriculture, and supporting SMEs in countries such as Togo, Tanzania, Uganda, Mauritania, Ghana, Guinea, and Senegal.
The minister welcomed the fact that Tunisia was able to obtain loans in a very short time, while ordinary procedures took 3 to 4 years. He stated that the terms of these loans are very advantageous because they include a grace period of up to five years and repayment over 30 years.
Finally, the minister detailed the stages of the medium-term development plan currently under preparation: A first stage (2011-2012) will consist of containing the negative repercussions of the post-revolution period. A second stage (2012-2013) will be a period of economic transition. A third stage (2014-2016) will focus on improving living conditions and achieving growth.
The cost of this plan is estimated at between 100 and 125 billion dinars over five years. Priority will first be given to public investment to resolve difficulties encountered on certain projects related to basic infrastructure and the link between regions and the development of new industrial zones. In addition, it is planned that the private sector's participation in investment will exceed 60% from 2014 to reach 70% and 80% in the following years.
The forecasts anticipate the creation of 500,000 jobs over the next five years, with an average of 80,000 and 85,000 jobs during the first two years. The minister indicated that this plan will be presented to political parties and components of civil society.
Paulou.
Published August 22, 2011.
Posted online August 23, 2011.
LesEchos.fr
The Minister of Planning and International Cooperation, Abdelhamid Triki, stated that the first quarter of 2011 recorded negative growth, limited to 3.3%, while in the second quarter growth fell to less than 3%, according to initial estimates.
He specified that several indicators seemed to show a return to economic dynamism during the month of June, particularly the growth of value-added taxes to 80 and 100 million dinars and the improvement in the activities of certain economic sectors.
Furthermore, he indicated that the improvement of the national economy is closely correlated with security stability and the end of sit-ins and strikes in several public and private industrial units. He insisted that the supplementary Finance Act for the year 2011 includes a series of important projects and programs.
He even added that the second semester will certainly be better than the first, if and only if political and security stability is in place. Experts estimate the growth rate at 0.2%.
Mr. Triki mentioned the intervention of international credit organizations through the granting of loans worth 1,850 million dinars, distributed between the World Bank (700 MDT), the African Development Bank (700 MDT), the French Development Agency (370 MDT) and the European Union Commission (90 MDT).
"Until August 3, 2011, Tunisia received 1.6 billion dinars, including 500 million dinars from the AfDB and 85 million euros from the AFD during last July. On August 1 and 3, we reciprocally received the amount of 250 million dinars," he specified.
This aid from the AFD is explained by the strategy of its director Dov Zerah, who is keen to focus part of the aid on sub-Saharan Africa and the Mediterranean rim, countries with the greatest needs. Previous decisions by the leaders focused on projects related to education, improving interest rates, agriculture, and supporting SMEs in countries such as Togo, Tanzania, Uganda, Mauritania, Ghana, Guinea, and Senegal.
The minister welcomed the fact that Tunisia was able to obtain loans in a very short time, while ordinary procedures took 3 to 4 years. He stated that the terms of these loans are very advantageous because they include a grace period of up to five years and repayment over 30 years.
Finally, the minister detailed the stages of the medium-term development plan currently under preparation: A first stage (2011-2012) will consist of containing the negative repercussions of the post-revolution period. A second stage (2012-2013) will be a period of economic transition. A third stage (2014-2016) will focus on improving living conditions and achieving growth.
The cost of this plan is estimated at between 100 and 125 billion dinars over five years. Priority will first be given to public investment to resolve difficulties encountered on certain projects related to basic infrastructure and the link between regions and the development of new industrial zones. In addition, it is planned that the private sector's participation in investment will exceed 60% from 2014 to reach 70% and 80% in the following years.
The forecasts anticipate the creation of 500,000 jobs over the next five years, with an average of 80,000 and 85,000 jobs during the first two years. The minister indicated that this plan will be presented to political parties and components of civil society.
Paulou.
Published August 22, 2011.
Posted online August 23, 2011.
LesEchos.fr
