Tunisia’s economy expected to expand by 1.8% in 2023

TUNIS: Tunisia's Minister of Economy and Planning Samir Saied said that the country's economy is expected to expand by 1.8 per cent in 2023, a "modest" growth that "reflects the difficult economic situation".

At a press conference to present the country's finance law for 2023, Saied estimated that Tunisia's inflation rate is expected to reach 10.5 per cent in 2023, up from 8.3 per cent in 2022, reports Xinhua news agency.

The ongoing war between Russia and Ukraine will lead to a rise in imports of basic commodities and petroleum products respectively worth of 2 billion Tunisian dinars ($640 million) and 8 billion dinars.

"The year of 2023 will be difficult for Tunisians," the minister warned, adding the Russia-Ukraine war will affect the country's budgetary balances.

The Minister announced that a number of measures will be taken in 2023 to improve the country's business environment and activate pending public projects.