Tunisia: 2012 Article IV Consultation; Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Tunisia

Author: International Monetary Fund

Volume/Issue: Volume 2012 Issue 255

Publication date: September 2012

ISBN: 9781475505832

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Topics covered in this book

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Banks and Banking , Exports and Imports , Finance , Economics- Macroeconomics , Public Finance , ISCR , CR , authority , exchange rate , government , Tunisia , Tunisian authorities , liquidity injection , authorities' intention , banking system liquidity , Tunisian authority , Fiscal stimulus , Public investment spending , Public investment and public-private partnerships (PPP) , Europe , Global

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Summary

This 2012 Article IV Consultation highlights that Tunisia experienced a severe recession in 2011 amid domestic and regional turmoil. Real GDP contracted by 1.8 percent, reflecting a sharp decline in tourism and foreign direct inflows. As a result of the economic downturn and the return of Tunisian workers from Libya, unemployment soared to 19 percent in 2011, with youth unemployment at 42 percent. Tunisia’s medium-term economic growth potential remains favorable, but unleashing it requires a comprehensive package of structural reforms to foster private investment.