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Tunisia: 2010 State budget up 4.5%

Debates of the Chamber of Deputies on the draft State budget for 2010 started late on Monday.  Prime Minister Mohamed Ghannouchi presented the Government Statement on the draft economic and State budgets for 2010.

 The 2010 State budget has been set at 18,333 million dinars, i.e., a rise of 5.4% compared with 2009.

The budget financing will be derived from the State’s own resources to the amount of 14,166 million dinars (77%) and from loan raising to 4,169 million dinars (23%).

State’s own resources will be generated by tax revenues to 11,602 million dinars (+10.3%), 40% of which from direct fiscal resources and 60% from indirect revenues, and from non-fiscal resources estimated at 2,564 million dinars, i.e. an increase of 89 million dinars.

Consequently, the rate of tax pressure will reach 20%, compared with 18.7% in 2009.

With regard to loan resources, the budget appropriates an amount of 4,169 million, as a result of foreign on lent credits (100 million dinars). These resources will be mobilized under the form of domestic loans (2,951 million dinars) and external loans (1,218 million dinars).

According to the budget, Tunisia will not resort to the private international financial market in 2010, and this will be the case for the second year in a row.

The budget will serve to finance State expenses with its two headings: development (4,500 million dinars) and management (10,095 million dinars), within the limits of  14,595 million dinars, i.e. a rise of 8.2%.

Wages will stockpile 6,825 million dinars, i.e. an increase of 7.9%. According to estimates, 16,200 officers are expected to be hired.

Equalization expenses are estimated in 2010 at 1,500 million dinars, compared with 1,430 million dinars in 2009 (+ 4.9%). Credits allocated to equalization will serve to subsidize hydrocarbons (730 million dinars), convenience goods (220 million dinars), transport and others (550 million dinars).
Public debt is estimated at 3,640 million dinars, compared with 3,805 million dinars in 2009, i.e. a drop of 165 million dinars (-4.3%). Debt service is set at 1,700 million dinars.

The draft economic budget for 2010 foresees a growth rate of 4% at constant prices, compared with 3% in 2009, and fulfillment of a major qualitative goal, that of increasing the per capita income up to 5,505.4 dinars, against 5,142.4 dinars in 2009.

The development scheme for 2010 foresees the creation of 70,000 jobs that would meet 83.3% of the additional demands.
The budget deficit will be kept within the limit of 3.6% of the GDP, compared with 3.8% set by the 2009 complementary finance law.

Debt indication will improve. The public debt rate would reach 47% of the GDP, compared with 48.2% in 2009.
The current deficit is estimated at 3%, while imports and exports of goods and services will grow at rates of 8.9% and 8.2%, respectively.

Consumption will increase by 4.4%, concurrently to the volume of national savings which will be raised to 23.3% of the available national income.

Investments would increase in the same year by 10% to reach 15,226 million dinars (26.5% of the GDP). The private sector will participate by 58.5% in the overall amount of investments.
Other indication: the share of scientific research and technological innovation will reach 1.3% of the GDP.


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