Tunisia's Growth Rate to Reach 3% in 2014, Says BCT Governor
6 May 2014
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Chedly Ayari, governor of the Central Bank of Tunisia (BCT), believes that Tunisia will achieve a growth rate of around 3% in 2014. The World Bank's (WB) latest report on global economic prospects forecasts a growth rate of around 2.5% for Tunisia.
In a statement to the TAP agency, on the sidelines of his participation in the Tunisia-Gulf Countries Investment Forum, Mr. Ayari specified that while acceptable, this rate remains insufficient to meet the demand for jobs.
He acknowledges that achieving such a rate (3%) is not easy given the difficult economic situation facing the country, adding that the current economic situation remains very difficult due to a lack of liquidity.
However, the governor also believes that one cannot speak of a state bankruptcy, as only companies can go bankrupt, not states.
"The government has embarked on a rationalization policy, not an austerity policy," said Mr. Ayari, calling on all Tunisians to realize that the country is in crisis and that it is imperative to show initiative to produce and create wealth.
This difficult situation in public finances will continue until the end of 2015, he also announced.
Regarding the growth rate for the first quarter of 2014, Mr. Ayari indicated that it is impossible to set it until after all the data has been collected (mid-May), stressing that all economic indicators for the months of January and February are in the red despite an improvement recorded during the month of March 2014.
Webmanagercenter.com
Published May 5, 2014.
Posted online May 6, 2014.
In a statement to the TAP agency, on the sidelines of his participation in the Tunisia-Gulf Countries Investment Forum, Mr. Ayari specified that while acceptable, this rate remains insufficient to meet the demand for jobs.
He acknowledges that achieving such a rate (3%) is not easy given the difficult economic situation facing the country, adding that the current economic situation remains very difficult due to a lack of liquidity.
However, the governor also believes that one cannot speak of a state bankruptcy, as only companies can go bankrupt, not states.
"The government has embarked on a rationalization policy, not an austerity policy," said Mr. Ayari, calling on all Tunisians to realize that the country is in crisis and that it is imperative to show initiative to produce and create wealth.
This difficult situation in public finances will continue until the end of 2015, he also announced.
Regarding the growth rate for the first quarter of 2014, Mr. Ayari indicated that it is impossible to set it until after all the data has been collected (mid-May), stressing that all economic indicators for the months of January and February are in the red despite an improvement recorded during the month of March 2014.
Webmanagercenter.com
Published May 5, 2014.
Posted online May 6, 2014.
