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Analysis

Renewable sources diversify electricity power generation in Tunisia
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Despite depending heavily on gas-fired electricity production, declining productivity at key fields and rising energy imports from Algeria have prompted Tunisia to turn to renewables. The government has set out objectives to encourage development, including increasing the contribution of renewable energy to 30% of the energy mix by 2030. This is arguably an ambitious objective, especially considering…

Analysis

Rising demand and high commercial yields offer recovery for Tunisia's construction and real estate sectors
OBG
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Driven by a growing middle class, rising urbanisation and some of the most attractive prices in the Mediterranean region, Tunisia’s real estate sector offers some of the best potential in North Africa. However, inflation caused by the depreciation of the Tunisian dinar over the last two years, as well as central bank interest rate hikes, have led to increased construction costs and higher…

Analysis

Tunisia passes legislative reforms to streamline business regulations and boost investment
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Tunisia improved eight places to rank 80th out of 190 countries in the World Bank’s “Doing Business 2019” report. While this reflects a significant improvement in the country’s business and investment climate over one year, the government is committed to improving this ranking further, securing a position among the top-50 countries worldwide as well as being one of the top three in…

Analysis

New budget law introduces accounting mechanisms to optimise mission-oriented public spending in Tunisia
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In order to improve the allocation of public funds the new budget law – Law No. 15 of 2019 – introduces the concept of medium-term budget forecasts. This legislative reform entails the establishment of a new accounting system to be used for the state funding of programmes to meet policy objectives. The previous system, which was established in January 1959, followed a public accounting…

Analysis

New reforms in Tunisia aim to improve business climate, boost communication and combat illegal activity
OBG
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Designed as a replacement for the former business register, the National Business Register (Registre National des Entreprises, RNE) Law No. 52 of 2018 passed on September 29 and was implemented on February 6, 2019. The reform has multiple objectives. First, it seeks to simplify procedures and shorten the time needed to set up a company, permanent establishment or economic interest group. Second, it…

Overview

Social reform in Tunisia builds on history and democratic institutions
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Following independence from France the Tunisian Republic was founded in 1956. Habib Bourguiba – known as the father of the nation – tempered the influence of religion, pushed for women’s rights in the Personal Status Code and created secular, coeducational and bilingual schools. These measures helped Tunisia to establish itself leading regional example of modernisation and development. Building…

Overview

Political reform in Tunisia leads to economic growth
OBG
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The Republic of Tunisia established a unitary semi-presidential democratic government after its independence from France in 1956. The country’s first half-century of sovereignty was marked by steady social progress and reasonably robust economic development. Under the reign of President Zine El Abidine Ben Ali, who ruled from 1987 to his ousting in the Jasmine Revolution of 2011, business-friendly…

Overview

Business Barometer: Tunisia CEO Survey:
OBG
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Despite GDP growth struggling to reach pre-2011 levels, the government estimated growth of 2.5% in 2018 and has forecast it will reach 3% in 2019. Two pieces of legislation introduced since 2018 should aid this expansion and provide a degree of increased confidence. The Transversal Law aims to improve business conditions while the Start-up Act will support small businesses. Indeed, the plurality…

Overview

Tunisia makes efforts to improve budget and entrepreneurial environment
OBG
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Long-viewed as an open economy with a unique geographic position at the centre of the Mediterranean, Tunisia has had difficulty in managing the macroeconomic situation following the 2011 revolution. Budgetary pressures, combined with a strong devaluation of the dinar and a rise in the level of business informality, have made the current environment a challenging one. However, a host of structural reforms…

Overview

New requirements brings Tunisia's domestic banking regulations in line with international standards
OBG
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In a context of significant macroeconomic challenges, Tunisia’s banking sector has demonstrated solid performance over 2017 and 2018. However, banking activity still faces several challenges, and its resilience in overcoming these will determine the success of its evolution over the coming years. Ongoing liquidity insufficiency, coupled with credit risk and reduced levels of capitalisation are primary…