“The current account deficit narrowed to TND 1.581 billion (or -0.9% of the GDP) by the end of May 2024, against TND 3.596 billion (or -2.3% of the GDP) last year,” the Central Bank of Tunisia (BCT) said in a press release issued Friday following an Executive Board meeting.
“This is due notably to the continuous drop in the trade deficit which stood at TND 6.413 billion (against TND 8.101 billion last May 2023), along with a good performance of the olive sector,” the BCT added.
“The current account would have been in surplus, had it not been for the continued widening of the energy deficit, whose share of the trade deficit rose from 57.8% in the first 5 months of 2023 to 77.6% in the same period of 2024,” the press release reads.
The foreign currency reserves were also up to TND 23.620 billion (or 108 days of imports) on June 19, against TND 22.728 billion (or 98 days of imports) last year, the BCT added.
