Banknotes and coins in circulation (BCC) in Tunisia have surpassed the symbolic threshold of 26 billion dinars for the second time this year, according to the latest data from the Central Bank of Tunisia (BCT).
This increase is part of a continuous upward trend over several years, but has experienced a remarkable acceleration since 2024-2025.
This surge in cash is not an isolated phenomenon. It reflects a series of economic, regulatory, and societal factors.
Indeed, the informal economy represents a significant portion of Tunisia’s GDP. As this parallel sector grows, so does the demand for cash.
Cash remains the preferred payment method to circumvent taxation, avoid traceability, and operate outside the banking system.
Between liquidity tensions, administrative delays, high banking fees, and certain restrictions on withdrawals or transfers, a portion of households and businesses prefer to keep or use cash rather than conducting transactions through banks.
On the other hand, persistent inflation mechanically increases the need for banknotes to carry out daily transactions. As prices rise, economic agents handle higher amounts of cash.
Since the implementation of new measures governing the use of checks, many businesses and merchants have changed their payment habits.
This new regulation had an immediate effect: a shift towards cash.
Economic players, fearing legal proceedings or banking blocks in case of bounced checks, have massively resorted to cash transactions to avoid any risk of incidents.
Indeed, the tightening of regulations abruptly put an end to this disguised credit instrument. Many agents who used post-dated checks to manage their cash flow found themselves without alternatives… except cash.
Ultimately, the growing cash reliance of the economy risks becoming entrenched in the long term, to the detriment of transparency and formalization.
