Tunisia records widening trade deficit

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Tunisia’s trade deficit has widened by about 20 per cent year on year in the first eight months of 2018 to $4.39 billion.

The development is considered to be a new record for the country, according to official data.

In the same period last year, the deficit was 10.1 billion dinars.

According to the State Statistics Institute, the deficit widened after imports rose by 20.4 per cent.

To curb the trade deficit, the country’s central bank ordered local lenders to stop financing imports of about 220 products- ranging from fish to perfumes.

Some inland regions in Tunisia remain impoverished and unemployment is high among the youth.

To cut the deficit, international lenders have demanded reforms. One suggestion is that spending be reduced on a bloated public sector.

Source: Footprint to Africa

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