The World Bank (WB) has lowered its GDP growth forecast for Tunisia to 1.2% in 2024, compared with 2.4% announced in April 2024.
In 2025, Tunisia’s GDP growth should be 2.2%, according to the bi-annual report on the economic situation in the MENA region, entitled “Growth in the Middle East and North Africa”, published on Wednesday, October 16.
According to the WB report, growth in the Middle East and North Africa (MENA) region remains sluggish due to uncertainties exacerbated by the regional conflict.
The same document forecasts modest growth in the region’s gross domestic product (GDP), which is expected to increase by 2.2% in real terms in 2024, up from 1.8% in 2023.
This slight increase is mainly driven by the Gulf Cooperation Council (GCC) countries, where growth is expected to rise from 0.5% in 2023 to 1.9% in 2024.
In contrast, growth in the rest of the MENA region is expected to slow. Growth in oil-importing countries is expected to fall from 3.2% in 2023 to 2.1% in 2024, while growth in non-GCC oil-exporting countries is expected to fall from 3.2% to 2.7%.
According to the WB report, the MENA region can also boost growth by taking advantage of global advances in knowledge and technology.
Increased international trade, supported by the region’s strategic geographic location, can accelerate this process of innovation and development.
Another important lever is to improve the quality and transparency of data, which currently lags behind international standards, in order to facilitate the dissemination of ideas,” the report concludes.
