Business & Economy

Tunisian expectations of the 2020 budget deficit

Tunisian government sources announced that the authorities expect the Corona virus crisis to push its budget deficit to 14% of GDP this year, double the original target and the highest level in nearly four decades.

According to the sources, Tunisia aims to reduce the deficit to 7.3% in 2021, while the country’s borrowing needs in the next year are estimated at 19.5 billion dinars, of which six billion are foreign loans.

Tunisia plans to reduce corporate taxes to 18% next year, 20% and 25% now, to help companies overcome the crisis and boost investment.

Tunisia’s tourism-dependent economy shrank 21.6% in the second quarter of 2020, compared to its level a year ago, as it was severely affected by the travel ban imposed to curb the spread of Corona.

Tunisia had expected to borrow 12 billion dinars (4.36 billion dollars) in 2020, but its needs have increased dramatically due to the Corona virus crisis. The volume of new borrowing for the current year is not yet known, but officials’ expectations say it will exceed 21 billion dinars.



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