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Tunisia: budget deficit improves 43% at end of June to 1.7 billion dinars

The examination of the provisional results of the implementation of the state budget, at the end of June 2018, shows a budget deficit of 1.7 billion dinars against a deficit of 3 billion during the same period of 2017, i.e. a net improvement of 1.3 billion dinars or 43.3%.

This evolution stems from the acceleration of own revenues at a higher rate than expenditure (excluding principal debt).

With regard to the State’s own resources, they grew during the first six months of the year by 21.1% or 2.378 billion dinars explained, on the one hand, by the growth in tax revenues of by 15.4% (+1.634 billion dinars) to 12.2 billion dinars and non-tax revenues by 103.2% (+745 million dinars) to 1.467 billion dinars, on the other hand.

As for expenditure, they rose by only 5.8% (+965 million dinars) compared to the end of June 2017 to 17.6 billion dinars including 10 billion dinars of management expenditure. These show a slight decrease of 1% and represent a completion rate of 45.2%.

Moreover, the servicing of the public debt (principal + interest) amounted to 3.87 billion dinars at the end of the first half of the year, representing a realization rate of 39.6% compared to the Finance Act.

The main debt thus amounts to 2.24 billion dinars while the interest is 1.63 billion dinars.

According to the 2018 Finance Act, management expenditure should reach 22.1 billion dinars against 21.4 billion in 2017, while the public debt service should amount to 7.97 billion dinars against 7 billion a year before.

The 2018 Finance Act also provides for an outstanding public debt of 76.16 billion dinars representing 71.4% of GDP against 69.9% in 2017, and a budget deficit of 5.2 billion dinars (4.9% of GDP).

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