Tunisia’s external public debt has recorded a notable decrease, falling from TND 66,874 million in 2023 to TND 62,539 million in 2024.
The decline is expected to continue, reaching TND 56,971 million in 2025 and TND 56,486 million in 2026, according to a report by the Ministry of Finance.
The total volume of public debt is projected to reach TND 156,704 million by the end of 2026, compared to TND 145,032 million in 2025, representing an increase of TND 11,672 million.
This rise is attributed to the financing of the budget deficit (TND 11,015 million) and the impact of exchange rates (TND 650 million), according to the Ministry’s report related to the 2026 draft State Budget.
By the end of 2026, public debt is expected to reach 83.41% of GDP, compared to 84.02% forecast for 2025 and 84.9% recorded in 2024.
According to external financing projections for 2025–2026, the impact of exchange rate increases on the volume of public debt is estimated as follows: an increase of TND 0.01 in the value of the US dollar and the euro and TND 0.1 for 1,000 Japanese yen, would raise the debt level accordingly.
Overall, a 1% increase in foreign currency exchange rates against the dinar, based on end-2026 forecasts, would result in an increase of approximately TND 593 million, in public debt, equivalent to 0.32% of GDP.
