Central Bank of Tunisia's Administrative Council Meeting: Economic Outlook and Inflation Perspectives
The Administrative Council of the Central Bank of Tunisia, convened on September 25, 2024, examined recent international and national economic developments, as well as inflation prospects.
Global Economy
At the global level, the economies of the United States and China remain resilient, while the Eurozone shows signs of recovery.
National Economy
On the national front, economic growth, although positive, remains weak, reaching 1% in the second quarter of 2024. However, signs of improvement are expected for the third quarter, driven by external and internal demand.
Current Deficit and Reserves
The current deficit has decreased, standing at 2,130 million dinars at the end of August 2024, compared to 3,105 million dinars a year earlier, thanks to improved external trade and service balances. Foreign exchange reserves have strengthened, reaching 25,654 million dinars.
Inflation
Inflation has slowed slightly, standing at 6.7% in August 2024, compared to 7% in July, although prices of fresh food products continue to weigh.
Monetary Policy
The Council has decided to maintain the Central Bank's benchmark rate at 8%, emphasizing the importance of pursuing reforms to support economic growth and stabilize inflation.
