22 March 2019

Tunisia: BCT Concerned About Level of Trade Balance Deficit in 1st Two Months of 2019

Tunis/Tunisia — The Central Bank of Tunisia (BCT) Executive Board is concerned about the level of the trade balance deficit during the first two months of 2019 (January and February), at a time when the net assets in foreign currency reached until March 19, nearly 14,585 million dinars (MD), covering 86 days of imports against 13.974 MD (84 days of imports at the end of 2018).

During its regular meeting on Thursday, the Board pointed out that the current account deficit dropped in the first two months of 2019, to 1. 642 MD and 1.4% of GDP against 1.802 MD and 1.7% during the same period last year, according to the data published on the BCT's website.

Tunisia, on the other hand, recorded a noteworthy improvement in the growth rate of economic activity reaching 2.5% in 2018, compared to 1.9% a year earlier, taking advantage of the good agricultural season and the good performance of the services sector, although the industrial sector is still affected by the decline in the hydrocarbon and mining production.

The Board adopted during its meeting, the Bank's audited financial statements after reviewing the auditors' reports on the audit of the BCT's financial statements for 2018, as well as on the internal audit procedures, laying emphasis on the recommendations issued from the standing audit committee.

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