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.
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