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Tuesday 21 September 2021
HomeNewsTunisia: EBRD cuts 2014 economic forecasts to 2.9%

Tunisia: EBRD cuts 2014 economic forecasts to 2.9%

The European Bank for Reconstruction and Development (EBRD) has cut its 2104 economic forecasts for the southern and eastern Mediterranean region. In Tunisia GDP is now seen rising 2.9 per cent, against a previous forecast of 3.4 per cent.

The EBRD said Thursday in its latest economic outlook that the recovery in Tunisia had been timid, reflecting sluggish growth of the industry and poor performance of phosphate and energy exports.

The European banking institutions said cut its 2014 growth forecast for the SEMED region after a weaker-than-expected performance in the first quarter from Egypt, Tunisia and Morocco.

The region as a whole is now expected to show growth this year of 2.6 per cent compared with 3.0 per cent seen in May.

The EBRD cut its 2014 growth forecast for Egypt to 2.2 per cent from a previous 2.5 per cent. The outlook for Morocco was cut by 0.7 percentage points to 3.5 per cent.

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