HomeFeatured NewsTourism sector faces 4.204 billion dinars in bank debts

Tourism sector faces 4.204 billion dinars in bank debts

The indebtedness of Tunisian tourist establishments to banks reached 4.204 billion dinars at the end of September 2024, said Tourism Minister Sofiane Tekaya, referring to data published by the Central Bank of Tunisia (BCT), adding that outstanding and disputed loans amounted to more than 1 billion dinars.

Responding to questions from MPs at a joint plenary session of the Assembly of People’s Representatives (ARP) and the National Council of Regions and Districts (CNRD) at the Bardo Palace, the minister said that his department was working to find solutions to the debt problem in order to allow the reopening of closed hotels.

It has also been decided to set up a working group, chaired by the Ministry of Finance and including representatives of the Tourism, Justice, Economy and BCT Ministries, to draw up a report on the indebtedness of hotels, which will be presented to a Council of Ministers in the coming weeks,” he stressed.

A series of restructuring measures underway

Tekaya also announced that his department had studied all possible measures for the financial restructuring of tourist establishments, with a view to facilitating investors’ access to credit.

In addition, a strategic study has been launched on the redevelopment of tourist areas,” he said, adding that “administrative investigations have been launched in certain tourist areas due to abuses that have hampered the implementation of several projects, such as those identified in the El Kantaoui tourist area and in Mahdia.

He stressed that efforts would also be made to revise the legal framework for rural lodgings and guest houses in order to strengthen their role.

He also announced the launch of the Sidi Founkhal tourist zone project in Kerkennah (Sfax governorate), covering an area of 72 hectares, adding that “there are also plans to create a new tourist zone in the Zouaraa region, in Béja, covering an area of 100 hectares”.

Tourism receipts up

According to monetary and financial indicators published by the Central Bank of Tunisia, tourism receipts rose by 7.2% to 5.1 billion dinars between January 1 and September 10, 2024 compared to the same period in 2023.

Similarly, total earned income increased by 3.1% to 5.5 billion dinars, compared with 5.3 billion dinars a year earlier.

External debt service went up by 46.6%, from 7 billion dinars in September 2023 to almost 10.3 billion dinars today.

Net foreign exchange reserves fell slightly to 25.7 billion dinars (equivalent to 116 days of imports) on September 20, compared with 26.3 billion dinars on the same date last year.

Finally, the BCT reported that the total volume of refinancing up to September 20 fell by 10.5% to 12.5 billion dinars.

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