The International Monetary Fund (IMF) revised downward its economic growth for Tunisia in its latest report released Monday.
It said growth should reach 2.8% in 2014, an unchanged forecast compared to April estimates, considering that a higher level of agricultural production and services should offset a weaker than expected tourist season and stagnating electromechanical industries.
However, the IMF stressed that given the seasonal patterns observed so far in the year and the modest recovery recorded by Tunisia’s trade partners, economic growth for 2015 was revised down to 4% (instead of 4.2%).
The fund said, however, assuming that stability improves after the elections and the European market, which is of vital importance for the country, recovers, investment should recover (also as a result of recent improvements in the public procurement device) and contribute to growth in 2015.
However, after 2015, growth should continue to be dependent on the acceleration of the structural reform program, the IMF said.