Tunisia is a classic example of Arab nations in North Africa. Members of this group hardly flaunt their economic achievements while discreetly pursuing laid-down targets. The Tunisian Ministry of Agriculture says that export revenues of organic dates for this season increased by over 35%, compared to the previous season. The increase comes from a 21% increase in the quantities exported.
The quantities of organic dates exported, since the beginning of the season (October 10, 2017 – March 2, 2018) reached nearly 4.690,6 tons worth 34.8 million dinars (MD) against 3.876,1 tons which corresponded to 25.7MD during the same period of the previous season. The Ministry explained that the increase was caused by the jump of the quantities exported to Spain (1154.14%), Turkey (147.24%), Canada (136.55%) and Bulgaria (87.10%).
The Board of Directors of the Central Bank of Tunisia, BCT, last week decided to increase the key rate of the BCT by 75 basis points, that is, from 5% to 5.75% per annum, after a thorough analysis of the evolution of monetary aggregates and macroeconomic data, as well as leading indicators of the national economic situation.
The apex bank explained that the action, announced at the regular meeting of the Board, was aimed at facing real risks of a continuation of inflation in 2018, having already reached 7.1% in February against 4.6% in the same month of 2017 and 5.3% on average in 2017.
An acceleration of inflation was recorded at the beginning of this year, mainly due to the sharp rise in the consumer price index (CPI) in January 2018 of 1.1% (compared to 0.4% in December 2017).
In anticipation of this acceleration of inflation, the Board of Directors decided at the end of December 2017 to extend the corridor to 100 basis points on both sides of the BCT’s key interest rate, giving rise to a rate of marginal lending facility of 6%.
