Tunisia’s CB warns of weak economy

02 Dec 2011

(MENAFN) Tunisia’s central bank said that the country’s economy was going through a critical phase, urging the new elected government to bring investments back to the country, reported AP.

The bank added that by mid-November, Tunisia’s indicators were in the red, with a weak economic growth, a drop in exports, a fall in tourism receipts and a reduction in foreign and local investments.

It also said that the country’s reserves were enough for 114 days of imports compared to five months a year earlier, adding that Europe’s debt crisis affected the country’s trade, since 80 percent of Tunisia’s trade came from Europe.

It is worth noting that months of turmoil and strikes in Tunisia hampered the country’s economy, mainly the tourism sector.

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