The economic budget for 2012, passed by the National Constituent Assembly predicts a growth rate of 4.5% in 2012 compared to an estimated growth of 0.2% in 2011.
According to the document drawn up by the Tunisian Ministry of Regional Development and Planning, the Government also expects the creation of 75 thousand jobs and a 7% growth at constant prices of exports of goods and services, against a decline of 2.4% in 2011.
To achieve the targets set, the State relies on the expected restart of some vital sectors and the ongoing dynamics marking the sectors of mechanical and electrical industries (+15%) and textile and leather (+ 8%)
An investment rate of 24% of the GDP is also expected with an intensification of public sector investments in basic infrastructure in inland regions. The development scheme also targets an increase in household consumption by 4.5% and the price index by 3.6%.
Current deficit will be kept at a high level, i.e. 5.4% and the budget deficit will be limited to 6%.
This will bring about an increase in the country’s financing needs, particularly external funding, according to the document.
The Government relies, to this effect, on foreign direct investments and easy-terms financing.
With regard to debt, the draft budget seeks to keep its rates within reasonable limits. It, thus, predicts a debt rate of 38.8% compared to 38.2% in 2011 and 36.9% in 2010. On reforms, the economic budget mentions the revision of the investment incentive system and private initiative, reinforcement of promoters’ guidance, improvement of the banking sector through introduction of necessary reforms and promotion of exports.
The budget also plans to adapt the sectoral strategies to the requirements of the next stage and give priority in this context to inland regions.
In terms of human resources, emphasis will be placed on improvement of living conditions of citizens through a new vision based on social promotion and fight against poverty and marginalization.
The new economic budget also predicts a speeding up in the development pace in poorer regions and reduction of regional disparities.