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Tunisia: current account deficit continues to narrow in November to 7.9% of GDP

At its periodic meeting of December 27, 2019, the Executive Board of the Central Bank of Tunisia (BCT) recorded a drop in the current deficit to 7.9% of GDP in the first eleven months of the current year, against 9.9% for the same period of the previous year.

This decrease is attributed to the increase in tourism and labor income and the deceleration in the rate of growth of the trade deficit

It should be noted that tourism receipts continued to grow in December, reaching 5.47 billion dinars on 20 December, while labor income reached 4.74 billion dinars on the same date.

The current account deficit reached a historical record of 11.2% of GDP in 2018, against 10.2% in 2017, following the worsening of the trade balance deficit that negatively affected the net foreign exchange assets, which amounted to 84 days of imports in 2018.

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