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FINANCIAL NEWS
Tunisia grows petrol prices by 6.7pct to fit budget deficit
03 Jul 2017
(MENAFN) Tunisia reduced fuel subsidies, raising petrol prices by 6.7 percent in order to trim its budget deficit, as proclaimed one of the key reforms by the IMF.
Meanwhile, the country predicts its budget deficit for this year to increase to 5.9 percent from projected 5.4 percent due to higher fuel costs and the drop in the local dinar value.
However, authorities lifted the price of lead-free petrol to USD0.726 a litre from 1.650 dinar, whereas the last increase in fuel prices was in 2014.
In addition, the IMF exposed last month an USD320mn delayed tranche of Tunisia’s IMF loan after the government confirmed to speed economic reforms.
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