HomeNewsTunisia’s growth prospects outpace MENA's in 2023 (WB)

Tunisia’s growth prospects outpace MENA’s in 2023 (WB)

Tunisia’s growth rate is expected to be around 2.3% in 2023 against 2.2% in the Middle East and North Africa (MENA) region, the World Bank said in its latest Global Economic Prospects report.

This rate will edge up to 3% in 2024 and is expected to keep the same level in 2025, the report further reads.

Tunisia’s growth rate was revised down by 1% in 2023 and 0.6 % in 2024.

In Tunisia, adverse terms of trade shocks, slow reform progress and policy uncertainty held back activity in late 2022,” the WB said.

“As a result, Tunisia is one of few economies in the region whose output is still below pre-pandemic levels,” the bank said.

Meanwhile, the report shows that Tunisia’s output growth in 2022 exceeded other countries,’ including Morocco (1.1%), Jordan (2.5%) and Libya (-1.2%).

Growth in oil-exporting countries in the MENA region is expected to slow to 2% in 2023.

Oil importers are still facing domestic difficulties and their growth rate is expected to edge down to 3.4 % in 2023 (down 0.7% on January).

Global growth is projected to slow to 2.1% in 2023 against 3.1% in 2022.


Please enter your comment!
Please enter your name here

- Advertisement -