TUNIS - The International Monetary Fund warned on Friday that Tunisia’s fiscal deficit could exceed 9% of GDP and urged the country to control energy subsides, transfers to state companies and wages, even as protesters have been demanding jobs and economic development.
Violent protests have hit Tunisia at a time of unprecedented economic hardship in the North Africa country that ran a fiscal deficit of 11.5% of GDP in 2020, the highest in nearly four decades. The Central Bank agreed in December to buy treasury bonds worth 2.8 billion to finance the record fiscal deficit in 2020 budget after weeks of disagreement with the government.
Its statement said “specific measures are needed ... and in their absence, staff projects a higher deficit of over 9 percent of GDP.”
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