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HomeNewsTunisia: current account deficit down to 5.8% at the end of October

Tunisia: current account deficit down to 5.8% at the end of October

The Executive Board of the Central Bank of Tunisia (BCT) held Monday, November 30, 2020 its periodic meeting to review recent developments in economic, monetary and financial indicators.

With regard to the external sector, the Board highlighted the significant decrease in the current account deficit in the first ten months of 2020 to 5.8% of GDP, compared with 7.5% in the same period of the previous year.

This result is mainly attributable to the impact of the COVID-19 crisis on the volume and value of Tunisia’s external trade.

Nevertheless, the net external capital flows made it possible to cover the current account deficit and to consolidate the level of net foreign exchange reserves which reached 22,375 million dinars or 154 days of imports on November 27, 2020 against 18,999 million dinars or 107 days of imports on the same date of the previous year.

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