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Wednesday 16 June 2021
HomeFeatured NewsTunisia: lights on 2012 State budget (supplementary Finance Law)

Tunisia: lights on 2012 State budget (supplementary Finance Law)

The 2012 State budget is estimated, according to the supplementary Finance Law’s scenario, at 27,710 million dinars, i.e. up 7.7% compared to the initial finance law and 18.3% compared with the 2011 results.

This scenario, a copy of which was received by TAP news agency Thursday, was developed on the basis of a hypothesis counting on the realization of a GDP growth of 3.5%, an average oil barrel price at 100 dollars, as predicted by the initial budget law and an exchange rate of the dollar at 1.5 dinar instead of 1.420 dinar.

– Rise in spending by 1,775 million Tunisian dinars (MTD)

The rise in spending estimated at 1,775 MTD will involve mainly development spending which will increase from 950 MTD to nearly 6,150 MTD compared with 5,200 MTD forecast by the initial finance law.

This additional amount will be allocated to the realization of supplementary investment of 650 MTD and support for the employment program “Amal” and construction sites program with 200 MTD, in addition to an amount of 100 MTD dedicated to social housing projects.

Management spending will also increase to reach 14,346 MTD compared with 13,540 MTD estimated by the initial finance law.

This additional spending will target essentially equalization expenditures (229 MTD), after the increase in the rate of exchange of the dollar (i.e. 1,500 TD against 1.450 TD). Hence, equalization expenditures will be at 3,067 MTD, i.e. nearly 4.4% of the GDP.

This amount will help institute an additional bonus of 116 MTD for needy families after the increase in the number of recipients (50,000) and in the monthly pension (30 dinars per month), in addition to the additional bonus (100 MTD) for municipalities.

– State’s own resources increase by 2,047 MTD

The scenario proposed by the Government also seeks to bring the State’s own resources up to 2,047 MTD, to reach 18,191 MTD against 16,144 MTD.

These resources will come essentially from the following measures:

– Improvement of the performance of the tax system with an additional amount of 561 MTD, taking into account the results scored in 2011 and the rise in the dollar exchange rate.

– Exceptional contribution of wage-earners and professionals by 300 MTD.

– Revenues coming from taxation, i.e. a rise of 600 MTD, to reach 1,000 MTD compared with 400 MTD expected by the initial finance law.

– Privatization revenues, through the use of 400 MTD coming from the privatization of “Tunisie Telecom,” thus bringing earnings from privatization included in the 2012 budget law to 500 MTD compared with 100 MTD predicted by the initial finance law.

– Debt resources

Financing needs of the State budget are estimated at 7,289 MTD, i.e. 4,500 MTD to be dedicated to the recovery of the budget deficit which is at 6.52% of the GDP and 2,789 MTD to pay the principle on the debt.

Financing resources have been estimated to date at 6,600 MTD. They are divided as follows:

– Resources (1,500 MTD) coming from domestic market borrowing

– Resources coming from foreign borrowing that could reach 4,330 MTD, including 1,500 MTD under support from the African Development Bank (AfDB) and the World Bank.

– Foreign donations reaching 149 million Euros, i.e. 70 MTD, granted by the European Union.

– Privatization resources of 500 MTD

– Other borrowing resources needed to finance the budget and still not determined are estimated at nearly 689 million dinars.

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