Tunisia, grappling with financial difficulties, is preparing to repay external debts amounting to $3.9 billion in 2024, marking a 40% increase from the previous year, according to an official document released on Wednesday. The country is facing a shortage of external funding as it struggles to address its overall fiscal reform.
In addition to the external debt, Tunisia is also burdened with domestic debt payments of 12.386 billion dinars in the upcoming year. The government anticipates that the public debt accumulation in 2024 will reach approximately 140 billion dinars, representing around 79.8% of the Gross Domestic Product (GDP), a significant rise from the current 127 billion dinars.
According to a document from the Tunisian Ministry of Finance, the government had previously decided to raise the expected budget deficit for the current year from 5.2% to 7.7% of the GDP. The Ministry of Finance in Tunisia cited external and internal developments, including climate changes, drought, and the ongoing crisis in Ukraine, as factors affecting economic indicators during the first nine months of the year.
Furthermore, the Ministry highlighted the continued rise in the prices of primary commodities, particularly energy and grains, which added extra pressure on the budget, necessitating a revision of initial expectations.
