Taboubi calls for exemption of microcredits, housing and construction loans from increase in interest rate resulting from increase in BCT key rate
20/02/2019 18:53, TUNIS/Tunisia

(TAP)- Secretary-General of the Tunisian General Labour Union

(UGTT) Nourredine Tabboubi, on Wednesday called for the exemption of microcredits taken out by citizens as well as social housing and construction loans from the increase in interest rates following the decision of the Central Bank of Tunisia (BCT) to raise its key rate.

Chairing an information day held on Wednesday at the headquarters of the Tunisian Electricity and Gas Company (Steg), Tabboubi said that the trade union centre categorically rejects any increase in the cost of the social loan, following Tuesday's increase in the BCT's key rate from 6.75% to 7.75%.

According to Tabboubi, increasing the key rate is tantamount to making an upstream levy on the recently announced wage increases for employees and workers, stressing that the UGTT would never accept the consequences of this increase involving an increase in the cost of housing and construction loans.

He added that the UGTT hopes to reach an agreement with the government on this decision, and revealing that it has made contacts with the Governor of the Central Bank, Marouen Abbasi, as well as with the President of the Tunisian Professional Association of Banks and Financial Institutions, Ahmed Karam, to discuss the implications of the decision to increase the key rate.

Tabboubi said in this regard, that he will meet with Prime Minister Youssef Chahed to discuss the impact of the new BCT measure, stressing in this regard that his meeting this morning with President Béji Caïd Essebsi, focused on the general situation in the country and the consequences of the BCT's decision to increase its policy rate.

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