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Monday 10 August 2020
Home News Tunisia: economy to slump 6.5% in 2020 (Minister)

Tunisia: economy to slump 6.5% in 2020 (Minister)

Tunisia’s economy will shrink 6.5% in 2020, said Minister of Development, Investment and International Cooperation, Slim Azzabi.

Speaking at a press conference held jointly with the Minister to the Prime Minister in charge of Major Projects Lobna Jeribi and Finance Minister Nizar Yaiche, he added that the recovery of economic growth during the second half of the year will be slow.

Azzabi further indicated that the year 2020 will be the second year after 2011 during which Tunisia record a negative growth rate, recalling that this is the 5th year since independence during which Tunisia sees a recession in the growth rate.

Azzabi said that declining growth is explained by lower growth in most economic sectors, including textiles/clothing, mechanical industries, transport and tourism.

He added that the growth of manufacturing industries is expected to decline 14.8%, non manufacturing industries (-3.3%) and market services (-10%), while non-market industries will grow 0.5% by the end of 2020.

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