A delegation of European rating agency “Fitch Ratings,” is currently in Tunis as part of preparations for the annual updating of the sovereign rating of Tunisia.
The delegation was briefed during a meeting held Tuesday with Acting Minister of Finance, Slim Besbes, on the status of the execution of the State budget for 2012 and the development of the 2013 budget and the State contribution to the consolidation and restructuring of the banking sector.
“Fitch Ratings” said in a report published in early October 2012 that “the lack of visibility on the political and economic levels keeps Tunisia’s rating under pressure.”
Since March 2011, the agency downgraded the rating of Tunisia to “BBB” with a negative outlook before confirming it in February 2012.
Based on reports on the economic situation in the country, the agency will make its decision regarding the negative outlook whether by revising the rating upward, keeping or lowering it.
The Acting Minister of Finance briefed the delegation on the components of the finance law for the next year (2013), indicating that emphasis will be mainly placed on the control of equalization through structural reforms and by targeting the population that needs it.
He also stressed the desire to reduce the budget deficit to less than 5.9%, to strengthen fiscal resources and preserve development investments in 2012.
According to Mr. Besbes, revenues from sale operations are estimated at 900 million dinars in the Finance Act 2013.
Regarding the banking sector, Mr. Besbes referred to a progress in the reception of offers for the implementation of a comprehensive audit for the “Société Tunisienne de Banque” (STB), the “Banque Nationale Agricole” (BNA) and the “Banque de l’Habitat” (BH).
The purpose of these audits is to enable the State to put in place a clear banks management strategy, he said.
“In the 2003 budget, 200 MTD will be earmarked to support equity of these public banks,” Mr. Besbes said during the meeting.
