16 January 2013

Tunisia: World Bank Predicts Rise in Tunisia's Growth Rate for Next 3 Years

Tunis — The World Bank (WB) predicts a rise in the growth rate of Tunisia for the three coming years, i.e. from 3.2% in 2013 to 4.5% in 2014 and 4.8% in 2015.

In its report of the world economic outlook published Tuesday in Washington, the WB said "Tunisia's GDP is believed to have developed by 2.4% in 2012, notably thanks to the earnings achieved in tourist activity, despite the fact that it has not recovered its 2010 level."

According to the report, Tunisia's growth rate is expected to reach 4.8% in 2015, compared with the 4.3% expected in Algeria, 5.1% in Morocco and Libya and 4.7% in Egypt.

At the regional level, the WB reported a political uncertainty which still continues to affect economic activity in several countries of the Middle East and North Africa (MENA) region in 2012.

This extended political fragility and local unrest represent a "key risk" for growth prospects in the region, the WB report reads.

Nevertheless, the MENA region's growth rate recovered, last year, its level of 2010, with a rise in GDP estimated at 3.8% in 2012, compared with the 2.4% recorded in 2011.

According to the WB, regional GDP growth will supposedly slow down to 3.4% in 2013, and then rise to reach 4.3% by 2015, assuming an improvement in the political climate, consolidation of the tourism sector and recovery of exportation activities.

The WB also pointed out that "resumption of tensions in the Euro zone would particularly affect oil importers in the region, given the role of Europe as a trading partner and source of investment, tourism and expatriate savings."

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