Tunisia asks donors for $1bn loan

2012-08-10 22:29

(Shutterstock)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Tunis - Tunisia is seeking a $1bn loan from foreign donors, including the World Bank and the European Union, Investment and International Cooperation Minister Riadh Bettaieb said on Friday.

"We are negotiating a loan of more than $1bn with the World Bank, the African Development Bank and the European Union," he said.

The money would be used to finance the budget, after the deficit in the first half of 2012 reached 4.8% of GDP and with the likelihood that the official deficit forecast (6.6% of GDP over the year) will be surpassed.

The minister, separately, confirmed a strong recovery in foreign direct investment, which rose by nearly 45%in the first half of the year, compared with the same period of 2011.

FDI between January and June reached 1.064 billion dinars, higher than pre-revolution levels.

Tunisia went into recession last year, following the mass protests that ousted former dictator Zine El Abidine Ben Ali, recording negative growth of 1.8%.

Despite a tentative recovery this year, the economy remains fragile and unemployment, a key factor behind the revolution, persists.

The government is targeting 4.5% GDP growth in 2013, up from the 3.5% forecast for this year.

Read more on:    tunisia  |  north africa
NEXT ON NEWS24X
SHARE:

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
2 comments
Add your comment
Comment 0 characters remaining
 

Inside News24

 
SPONSORED CONTENT
When is a mountain more than just a mountain? 2014-12-18 07:26

When it’s an adventure! A group of Old Mutual employees found out how much is enough courage, endurance and camaraderie to take on Africa's highest peak.

/News
 

13 summer safety tips

Summer time and the burning is easy. Get some great tips to ensure sunburn doesn't spoil your holiday!

 
 

I love summer.24

This man's reaction to his Christmas present is priceless!
LOL! Cats destroying Christmas trees
Great tips for surviving the holidays
The ugliest Christmas trees ever?

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Kalahari.com - shop online today

Grand Theft Auto 5

Now available on PS4, Xbox One and PC from R649. Buy now!

Festive gifts!

Check out our awesome range of festive gifts to make everyone’s wishes come true. Shop now!

Save on Samsung

Cameras, mobile phones, TVs, Tablets and more. While stocks last. Shop now!

Save up to R2200 on electronics! – As seen in the catalogue

Wishing for tech gadgets this festive? Save up to R2100 on hot tech products at kalahari.com. While stocks last. Shop now!

30% off the bestselling books

Save big on the most captivating reads of 2014. While stocks last. Shop now!

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

Horoscopes
Aquarius
Aquarius

You may feel more sensitive than usual and there may be something or someone blocking the flow of things. There is a strong desire...read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.








Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.