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HomeNewsTunisia to borrow from international financial market in 2013

Tunisia to borrow from international financial market in 2013

Slim Besbes, Acting Minister of Finance, announced Friday on Radio Fm Express that Tunisia will borrow between 1,700 and 1,800 million Tunisian dinars (MTD) from the private international financial market in 2013.

He added that the budget deficit for 2012, estimated at 6.6%, will begin a downward trend from 2013 to reach over 5.5% that year.

The Minister noted that the 2012 budget is experiencing pressures at the General Compensation Fund (pressures generated, among others, by the increase in oil prices) and estimated these pressures at 800 MTD, arguing for an increase in fuel prices.

With regard to resources, the Minister expressed satisfaction at fiscal resources and particularly the tax amnesty which hitherto brought to State coffers 75 MTD out of a planned total of 250 MTD.

On exceptional resources, he noted that the implementation of the program of transfer of confiscated property (over 200 companies), is following its course under normal conditions and announced that the shares to be forfeited in the capital of the “Banque de Tunisie” and the International School of Carthage will be subject to tender, respectively, in the months of September and October.

Asked about the case of the Cactus company, the minister insisted that the State holds 51% stake in this company and stated that there is no link between the arrest of its CEO Sami Fehri and continuation of the company’s activities.

He was, however, disappointed by the voluntary contribution of citizens to the Treasury in the context of national solidarity. “It would be trivial,” the minister said.

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