Tunisian Central Bank Expects Relative Rise in Growth to 2.3% in 2017

The Central Bank of Tunisia expected a relative growth boost to 2.3% in 2017, thanks to a good agricultural season, a recovery in phosphate production and tourism, while the Ministry of Development forecasts put forward a growth of 2.5%.
According to the memo on the economy for the month of March published by the Central Bank of Tunisia, the latest economic indicators available at the end of the first two months of the current year, show a consolidation of industrial activity, illustrated by the increase in imports of raw materials and semi-finished products, capital goods as well as by accelerated exports of the mechanical and electrical industries, textiles, clothing, leather and footwear, the official news agency (TAP) reported.
Some improvement was also observed in the services. Indeed, foreign tourist entries went up by 23.6% in the first two months of 2017, compared with a decline of 16.1% a year earlier. Similarly, the decline in tourism earning in foreign currencies decreased (-2.1% versus -46.3%).
At the same time, air transport activity saw increase in passenger traffic in airport by 15.1%, compared to a 9% decline a year earlier. In 2016, the national economy recorded almost the same growth rate as a year earlier, 1% against 1.1%.

Source: QNA