President of the Finance Committee of the Assembly of People’s Representatives (ARP), Issam Chouchene, has declared that the investment climate in Tunisia will change radically in 2025 and that it is necessary to speed up the publication of the foreign exchange code.
In an exclusive interview with AfricanManager, the MP said that “the investment climate in Tunisia will change completely in 2025 (…) When we talk about the investment climate, we are talking about creating wealth, reducing unemployment, improving the purchasing power of citizens and increasing the stock of foreign currency (…) And within the framework of the 2025 finance law, many funds have been created in various areas, but the main pillar remains the revitalization of investment,” he explained.
He went on to say that “we believe that the way out of the current economic situation is to stimulate investment, and this can only be done through concrete measures that will encourage investment at home and abroad (…) We have called for the promulgation of a foreign exchange code; we have sent an official letter to the Minister of Finance on this matter, and she has confirmed that the foreign exchange code will be presented immediately after the approval of the Finance Law”.
Chouchene went on to say that “the Finance Bill for 2025 does not contain any major shortcomings compared to the previous year… It reflects the State’s overall approach, in which the policy of autonomy is seen as a strategic option aimed at achieving financial equilibrium without recourse to external borrowing.”
The MP explained that the general orientation of state policy is based on autonomy, stressing that the Parliament considers that the solution to continue with this option is to stimulate investment by achieving fiscal stability and without resorting to borrowing from the Central Bank of Tunisia.
Green economy and investment as drivers of growth
On another front, Chouchene believes that today’s global trend focuses on the importance of promoting the green and circular economy and boosting investment, particularly in alternative and renewable energy and everything related to scientific and technological development (…).
“Positive indicators are emerging from Cabinet meetings for the promotion of investment, and their results can be assessed from 2025 onwards, after the official publication of the Finance Law… I would also like to stress that, without fiscal stability, the hoped-for investments cannot be made…”
He added: “Fiscal stability is not only a financial issue, but rather a key factor in strengthening the trust between investors and the state, helping to stimulate major investments and improve Tunisia’s position as an investment destination”.
Foreign exchange code: An overhaul that helps overcome challenges
Indeed, the revision of the foreign exchange code could, among other things, solve the problem of the black market in foreign currency, which is growing as a result of the restrictions imposed on foreign exchange.
By relaxing the rules, the revision could reduce the attractiveness of the black market, thereby improving the integrity of the financial system and strengthening the country’s tax base.
Tunisia’s current foreign exchange law, rooted in a relatively old regulatory framework, faces several challenges that limit the country’s efficiency and economic dynamism. These challenges, and how an overhaul might address them, are crucial to understanding the importance of this reform.
One of the main challenges is the rigidity of the foreign exchange regime. The current framework imposes severe restrictions on foreign exchange transactions, hampering the ability of Tunisian companies to conduct international transactions efficiently.
