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Tunisia revises economic growth forecast downward to 3.5%

Tunisia has revised its economic growth forecast for this year to 3.5 percent, down from a previous forecast of 4.5 percent due to declines in foreign investment and tourism, Secretary of State for Finance Slim Besbes said Tuesday.

“In the supplementary budget, we have changed the outlook to 3.5 percent,” he said.

Tunisia’s Government said in December the economy would grow 4.5 percent in 2012, but ongoing strikes have put off foreign investment, forcing it to cut its forecast.

The Government has also revised up its spending in the new supplementary budget for 2012.

“The supplementary budget also includes an increase in spending of one billion dinars ($664 million),” Besbes added.

The Government last December allocated 5.2 billion dinars for development spending in 2012 far below the 13.5 billion budgeted for 2011.


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