Tunisia’s total debt (TD) continued to slow in 2024 for the fourth consecutive year, increasing by only 4% (compared with +5.2% in 2023 and +7.9% in 2022), reaching 247.5 billion dinars.
According to data from the Central Bank of Tunisia (BCT), this slowdown is the result of the continued contraction of outstanding external debt (-6.8% compared with -0.4% in 2023), which was more than offset by the acceleration of domestic debt (+9.5% compared with +8.3% a year earlier).
Thus, the gradual restructuring of the economy’s sources of financing in favor of local resources was reflected in the predominance of domestic debt as the main source of financing, accounting for 70% of total debt in 2024.
By beneficiary, state debt, which accounted for 48% of the total, slowed in 2024 (+6.1% compared with +9.4% in 2023 and +9% in 2022), while the debt of other non-financial economic agents posted a modest increase over the past two years (+2.2% compared with +1.7% in 2023), relative to 2022 (+7%).
The ratio of total debt to GDP at current prices fell in 2024, standing at 148.9% compared with 155.9% a year earlier.
This development was mainly due to the sharp decline in the external debt ratio, which dropped from 52.3% to 44.7% year-on-year, while domestic debt recorded a slight increase, reaching 104.2% (compared with 103.6% in 2023).
