In 2023, Tunisia reduced its financing needs to 1.3 billion dinars, compared to 9.1 billion the previous year, according to the Central Bank of Tunisia, thus highlighting an economic improvement despite a difficult international context marked by tensions geopolitics and inflation.
Tunisia's financial account showed a financing need of 1.3 billion dinars (387 million euros) in 2023, compared to 9.1 billion dinars (2.71 billion euros) in 2022, according to a report from the Central Bank of Tunisia (BCT).
The Tunisian economy is going through a recovery phase in 2023, despite an international context marked by geopolitical tensions and inflationary pressures.
The current account also recorded a reduced deficit, reaching 2.3% of GDP compared to 8.8% a year earlier.
This decline is mainly explained by the drop in the debit balance of portfolio investments and other investments (-2.4 billion dinars, or approximately 715 million euros, compared to -6.8 billion dinars, or 2 billion euros, in 2022).
Furthermore, net assets in foreign currencies consolidated at 26.4 billion dinars (7.87 billion euros), or the equivalent of 120 days of imports, against 22.9 billion dinars (6.83 billion euros) and 100 days at the end of 2022.
In an international context marked by geopolitical tensions and inflationary pressures, Tunisia has benefited from the improvement of its food balance, thanks to the increase in olive oil exports.
At the same time, tourism and transfers from Tunisians living abroad supported foreign exchange flows, helping to reduce the current account deficit to a level not seen since 2007.
SL/ac/Sf/APA
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