Draft economic budget forecasts growth rate of 2.7% in 2020
22/11/2019 20:16, TUNIS/Tunisia

(TAP)-The draft economic budget for the year 2020 assumes gross domestic product (GDP) growth at constant prices of 2.7%, said Ridha Chalghoum, Acting Minister for Development, Investment and International Cooperation.

This increase should be achieved thanks to an expected improvement of growth in agriculture (5.2% vs. 1.7%), manufacturing (1.5% vs. -0.3%), non-manufacturing (7% vs. 0.9%), market services (2.6% vs. 2.2%) and non-market services (1.5% vs. 1%), the minister explained.

Speaking on Friday at a meeting of the interim Finance Committee, the Minister said that some measures would be announced shortly, referring in particular to the constraints linked to the olive oil sector (labour, management of abundant production, the debt of oil mill owners and the fall in export prices).

Regarding growth in non-manufacturing industries, Chalghoum reported that the forecasts take into account the expected start of production of the Nawara field in December 2019, as well as the increase in phosphate and derivatives production to 11 million tonnes.

In the same context, he recalled that the SNFT had already acquired locomotives to solve the transport problem.

As for manufacturing industries, the Minister estimated a return to normal external demand, which will favour exports from the mechanical and electrical industries, in addition to textiles and agri-food industries (particularly olive oil).

With regard to the tourism sector, the Minister pointed out that the forecasts foresee the arrival of 8 million tourists, which will help to improve the growth of market services.

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