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FINANCIAL NEWS
Tunisia’s 2012 economy to expand 2-3%: IMF
27 May 2012
(MENAFN) The International Monetary Fund’s (IMF) mission chief to Tunisia, Joel Toujas-Bernate, stated that in 2012, Tunisia’s economy is expected to grow between 2 to 3 percent, reported Gulf News.
Toujas-Bernate said that in 2011, Tunisia’s economy contracted by 1.8 percent, affected by the political upheaval that swept the country and ousted Zine Al Abidine Ben Ali.
However, the official warned of the European debt crisis, which represents a key factor that may harm the country’s economy during the current year, since the euro zone is Tunisia’s most important export market.
It is worth noting that during the first quarter, Tunisia’s economy expanded 5 percent from 2011, however, inflation in April grew to 5.7 percent, due to higher demand from Libya for food and clothing that raised prices and resulted in supply shortages.
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Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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