Tunisia needs to review economic policies

Abdul-Hameed al-Zaidi, the economic and financial expert, said that what Tunisia has reached now is the result of not relying on scientific competencies and handing over power to a group of amateurs who dumped the country in loans and debts.
Al-Zaidi said in an exclusive interview with Egypt Today that they appealed more than once the prime minister and the presidency of the republic, to review the financial and economic policies and change the management of the central bank, and reliance on competencies and experts, but to no avail.
"While the public administration covers the economic, financial and social indicators related to the first semester of 2017 and following the comments of the Minister of Finance in the prosecution, we understand the message addressed to the people and the difficult situation experienced by the government before the end of this year," he added.
Al-Zaidi said that unemployed youth have been living a period of despair after a clear failure by the state, which did not find the appropriate solutions to create jobs inside the country and open the blocked prospects for young people after years of revolution.
He stressed that Tunisia is experiencing a period of continuous transition characterized by a financial crisis resulting from a deteriorating economic recession and a policy unable to mobilize the resources necessary to pay public investment in the absence of foreign investment and private investment.
Al-Zaidi said that the lack of clear vision, the precise development plans and the strategy of sustainable development of successive governments after the revolution, and their tendency behind the popular demand, is a major cause of the social situation.
He added that the tax pressure imposed on the citizen and the institution is great, which has a direct impact on the purchasing power of economic elements and raise the cost of consumption and production alike, and does not encourage investment, thus contributes to inflation due to lack of production and demand doubled.
He pointed out that what is required is to improve productivity and pay private investment in order to increase production and reduce prices, to maintain the purchasing power of the citizen.
Al-Zaidi said that the approach pursued by successive governments after the revolution is wrong and the solutions currently proposed are not appropriate to solve the problem. He said that the solution is to integrate the banking system, which comprises 21 public institutions, in particular about 1500 branches, in the development effort, under the supervision of the Central Bank of Tunisia.
He pointed out that the best solution, to achieve comprehensive and balanced development, can only be a Tunisian in the context of openness to the outside and concerted efforts of the parties involved, which will ensure social peace.