Tunisia's real GDP growth cooled to 2.4% y/y in the third quarter of the year from 3.2% in Q2, the statistics office INS said in a flash statement on November 19 without disclosing further details. The INS will likely issue a detailed breakdown soon. Tunisia’s GDP growth averaged 2.8% in the first three quarters of 2013, the INS said. The Q3 GDP reading is below the 2.7% y/y estimate announced by central bank governor Chedly Ayari earlier in October.
Political and security developments in Tunisia will continue to weigh on the economic outlook and the pace of fiscal, financial, and structural reforms, according to the IMF. Tunisia’s GDP growth will slow to 3.0% in 2013 from 3.6% the year before, the IMF said in its October World Economic Outlook. The EBRD also recently revised down its 2013 GDP growth forecast for Tunisia to 3.2% from its previous projection of 3.8% in May.
The economic activity will likely not recover before 2015 as the transition period has taken much longer time, according to central banker Ayari.
Lebanon has become the fifth member country from the Southern and Eastern Mediterranean (SEMED) region to join the European Bank for Reconstruction and Development (EBRD), becoming a shareholder with ... more
Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more
Passengers boarding an early morning July 5 Turkish Airlines (THY) flight to John F Kennedy International Airport in New York were allowed to include laptops and electronic devices larger than a ... more