Tunis — The volume of the state budget for 2014 will reach 28 billion 300 million Tunisian dinars (MTD), i.e a rise of 2.2% compared to 2013 (26 billion 792 MTD), Finance Minister Elyes Fakhfakh said.
After a cabinet meeting, held on Saturday in Tunis, and devoted to the examination of 2014 budget, Mr. Fakhfakh underlined that the 2014 finance law will include several new measures including notably the exemption of weak-income social categories (less than 5,000 a year) from taxation.
The Minister also underlined that among the new provisions of the finance law for 2014 figures notably submission of individuals with an annual income higher than 40,000 Tunisian dinars (TD) to an imposition of 35% (a measure applied earlier to income higher than 50,000 TD).
He said that it will be progressively proceeded to the reduction of the direct monetary transactions of amounts higher than 20,000 TD and their replacement by bank and postal checks or bank transfer, to give further transparency to the financial transactions.
Fakhfakh added that this measure will applied in 2015, to amount more than 10,000 TD, and 2016 to more than 5,000 TD.
As regards the need of the management budget, "Tunisia is still going through a difficult period because of the rise of the volume of compensation and wages," the Minister underlined.
He went on saying that during the year 2014, the government will strive to increase the development projects in addition to structural reforms, under achievement, and boosting of tax revenues.
The budget deficit will be maintained at about 6.5% against 7.5% in 2013 (5,500 MTD according to the last updating), Mr. Fakhfakh specified adding that the debt ratio could reach 49%.
In this connection, he reminded that the first part of the standby credit granted by the International Monetary Fund (IMF), signed in June 2013, will be released in 2014, announcing that the government is negotiating with the European Union (EU) for the granting of a credit from 300 to 500 million euros.
Evoking the budget resources for 2014, the Minister underlined that the United States voiced readiness to grant a loan guarantee to Tunisia.
"We will request a guarantee from the French market in case of need of additional resources," he underlined.