82903
Tunisia Forex Reserves Fall
Tunisia Forex Reserves Fall

Tunisia Forex Reserves Fall

Tunisia Forex Reserves Fall

Tunisia’s central bank has said that the country’s foreign exchange reserves fell to 11.3 billion Tunisian dinars ($4.6 billion), Asharq Al-Awsat reported. The figure does not include more than 80 days’ worth of the country’s imports, it said. The bank attributed the decline to the country’s need to use foreign exchange funds at the beginning of each year to provide the necessary stocks of energy, food and industrial raw materials, in addition to servicing foreign debt. Tunisia is also suffering from a worsening trade deficit, which reached a record level of 15.5 billion dinars at the end of last year. The Central Bank of Tunisia expects foreign currency reserves to rise soon due to expected revenues from the sale of olive oil and dates, as well as the steady recovery of the tourism sector and the improvement of the European economy, a major market for the country’s exports. Tourism revenues have recently begun to recover after a decline due to terror attacks in the country. The government expects tourism revenues to grow this year by about 25% compared to last year.

 

Short URL : https://goo.gl/hTxek5
  1. https://goo.gl/UGjFVc
  • https://goo.gl/iAVEPM
  • https://goo.gl/PvJrrL
  • https://goo.gl/JHzX6Z
  • https://goo.gl/2vswLh

You can also read ...

Indonesia’s interest rate rise highlights need for urgent defensive action.
Argentina's return to financial chaos might seem remote to...
Kazakhstan Doing Better Than 5 Central Asian Peers
Despite starting from similar points upon the collapse of the...
Pakistan Retains Stable Rating
Moody’s Investors Service said that Pakistan’s (B3 stable)...
Goldman Says US in Dire Straits
Goldman Sachs’ analysts delivered a weekend note on the United...
Taiwan Economic Sentiment Weakens
Sentiment toward Taiwan’s economy weakened in May after the...
Bruno Le Maire
The stability of the eurozone will be at stake if a populist...
Investments by state enterprise rose 11.5% from a year earlier.
Thailand produced its fastest economic growth in five years in...
Chan Chun Sing (L) and CEO of the Singapore Business Federation Ho Meng Kit,  at The Business Times Leaders Forum on Monday.
With the rise in unilateralism and protectionism, the...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus