FINANCIAL NEWS

Tunisia economy sees 2% frowth in Q1: Jebali

12 May 2012

(MENAFN) Tunisian economy has recovered back in the first quarter from a contraction a year ago caused by the political unrest that ousted its president Zine Al Abidine Ben Ali, Reuters reported.

The Tunisian Prime Minister Hamadi Jebali said that his nation’s gross domestic product grew 2 percent in the first quarter.

Last year, the ruling moderate Islamist party’s leaders made efforts to reassure investors and tourists and promised to pursue business-friendly policies, but had difficulties with their left-wing secular opponents’ strikes and protests that have undermined efforts to boost Tunisia’s economy, which shrank 1.8 percent in 2011.

A previous finance ministry forecast in March cut expectations for growth to 3.5 from 4.5 percent, citing concerns that strikes and suspended business operations had decreased foreign investment.

Jebali, however, said foreign investment in the first third of 2012 was rising, citing that the industrial and private sector investment has grown by 42 percent, while foreign investment advanced 35 percent in the period.

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