Tunisia’s GDP growth slows to 2.4% y/y in Q3 2013

By bne IntelliNews November 19, 2013

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. 

Related Articles

Survival of Iran nuclear deal appears far less likely under US Secretary of State Mike Pompeo

The odds on the Trump administration attempting to kill the Iran nuclear deal substantially shortened on March 13 with the firing-by-tweet of US Secretary of State Rex Tillerson and his replacement ... more

Billion-dollar petrochemical facility to be built in Turkey by Algeria's Sonatrach

Algerian national energy company Sonatrach has struck a deal with Turkey's Ronesans and Bayegan to build a petrochemical plant worth $1bn in Turkey, Turkish President Recep Tayyip Erdogan said on ... more

Romania’s Hidroconstructia starts overseas push with $115mn Jordan contract

Romanian civil engineering company Hidroconstructia has won a $115mn contract with Jordan’s Arab Potash Company, the world’s eighth largest potash producer. Hidroconstructia was founded in ... more