Tunisia: GDP growth to reach 2.2% in 2020
Saturday, 01 11 2020, Category: Economy, Country: Tunisia
Tunisia's Gross Domestic Product (GDP) growth will reach 2.2% in 2020 and 2.6% in 2021 and 2022, according to new World Bank (WB) forecasts.
These rates will be achieved thanks, in particular, to political reforms and the resilience of tourism, the international financial institution said in its report "Global Economic Prospects: Slow Growth, Policy Challenges" which has just been published.
However, the World Bank believes that the fragility of the banking sector and high indebtedness severely hamper growth in small oil-importing countries (such as Tunisia).
In previous reports, the bank has predicted that the economy will grow at a faster rate than in the past.
Tunisia's GDP growth rate is expected to be 3.4% in 2020 and 3.6% in 2021.
As regards national forecasts, the draft economic budget for the year 2020 expects GDP growth at constant prices of 2.7%, while growth reached 1.1% during the first nine months of 2019, according to the National Institute of Statistics (INS).