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Tuesday 20 October 2020
Home News Tunisia: budget deficit widens by 84% at end July 2020

Tunisia: budget deficit widens by 84% at end July 2020

The budget deficit further widened at the end of July 2020 to over 5 billion dinars, which represents an increase of 84%, compared to July 2019 (2.7 billion dinars), according to the “provisional results of the implementation of the state budget (to July 2020)”.

This reference document, published Tuesday by the Ministry of Finance, reported a decline in the State’s own resources and grants by 11% to 16.4 billion dinars (mainly due to lower tax revenues), against a slight increase in spending and loans by 1.5% to 21.3 billion dinars.

Borrowing resources went up by 31% from 7.4 billion dinars in July 2019 to 9.8 billion dinars in July 2020.

It also pointed out that the volume of public debt has risen by 7.8% to about 88.5 billion dinars, at end of first seven months of the current year, of which 68% is made up of external debt.

It should be noted that 52% of this external debt is contracted under multilateral cooperation agreements, 31.5% with the financial market and 16.4%, within the framework of bilateral cooperation.

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