Tunisia Receives €100M EU Boost Ahead of Polls
The European Union might be the last chance saloon for Tunisia to avert the abyss as the country’s economy continues to slide.
On Sunday 13th November, Reuters reported that the state news agency TAP has said the EU will grant Tunisia 100 million euros in budget support to alleviate impacts of the pandemic and support economic activity.
According to TAP, the agreement will be signed on Nov. 14, quoting the ministry of economy.
In recent months the country’s Dinah has tumbled against the dollar, Tunisia’s public debt has bloated to 40 bn dollars and food and other basic commodities continue to soar.
A recent study conducted by the non-government Tunisian Forum for Economic and Social Rights (TFESR) revealed that four million Tunisians suffer from poverty, a situation which reflects the failure of the policies pursued by successive governments since January 2011.
The figures tallied with the numbers published earlier this month by Tunisian government regarding the percentage of the population living in poverty.
The bailout from the EU is reported to be in relation to the impact of the covid pandemic.
Tunisia this month reached a preliminary agreement with the International Monetary Fund (IMF) for a $1.9 billion rescue package that could be finalised in December.
Tunisian authorities are hopeful regional and international creditors will now come to Tunisia’s aid after the country reached a preliminary agreement with the International Monetary Fund (IMF).
But country donors are expected to seek reassurance Tunisia will put its finances on a more sustainable footing.
