Tunisia: Covid-19 - Fallout Will Be Noticeable From March 2020 (Bct)

Tunis/Tunisia — The Central Bank of Tunisia (BCT) said that the fallout from the health crisis caused by coronavirus COVID-19 would be perceptible at the level of economic, monetary and financial indicators from March 2020.

The BCT added in a note on economic and financial developments (March 2020), published on its website, that this new context leads to a significant revision of the initial scenario of economic growth as well as that of global economic balances, in light of the magnitude of the crisis which suggests, in perspective, a negative inflection of economic indicators.

The Tunisian economy, whose economic cycle is fundamentally synchronised with that of the euro zone, is expected to be heavily affected by the decline in activity at the level of the main trading partners.

"The BCT would remain vigilant and would closely monitor the development of the economic situation as well as the situation of the banking sector in the coming days, and would not hesitate to take additional measures if it deems it necessary," the note said.

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