Sabato, 20 Ottobre 2018

Tunisia: Economic crisis ongoing, no currency devaluation

(by Diego Minuti)(ANSAmed) - TUNIS, SEPTEMBER 5 - Over a year
and a half after the revolution and the chaos that followed it,
Tunisia's economy continues its downward spiral, with the latest
data showing its productive apparatus unable to compete abroad.

In spite of the dinar's weakness compared to the euro, Tunisia
seems unable to exploit this favorable climate for exports to
Europe, its main foreign market.

The main problem, analysts say, is the inability of the parties
to come up with a unified strategy. Unions are demanding higher
wages, entrepreneurs are unwilling to reinvest or share profits,
and the government is unable to mediate between the two.

In a Radio Express interview, central banker Chedly Ayari
denied the past days' rumors of an imminent devaluation of the
dinar (worth half a euro), but called for measures to stem the
rapidly growing trade deficit. Among these are measures to
discourage the buying of foreign luxury goods, such as levying
new taxes on imported cars.

During the Zine El Abidine Ben Ali regime, most car dealerships
were in the hands of the ruler's friends and relatives. They
were confiscated by the new administration, which now wants to
sell them off. But new levies on luxury cars might scare off
prospective buyers. (ANSAmed).

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