Middle East & North Africa Economics

Middle East Economics Update

24 January, 2019

What’s behind Tunisia’s large current account deficit?

Tunisia’s large current account deficit is the result of struggles in the tourism sector as well as an overvalued exchange rate and overly loose fiscal policy. Implementing austerity looks to be an increasingly difficult challenge and we think the authorities will have to rely on a weaker currency and further interest rate hikes to put the external position on a more sustainable footing.

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