Tunisia's Foreign Exchange Reserves Decrease to 25,320.8 Million Tunisian Dinars
Tunisia's foreign exchange reserves decreased to 25,320.8 million Tunisian dinars (Mtnd) as of October 2, 2024, compared to 25,390.2 Mtnd the previous day, according to provisional data from the Central Bank of Tunisia (BCT). This decline is accompanied by a reduction in the number of days of import coverage, which fell from 115 to 114 days, a worrying situation in a fragile economic context.
Compared to the same period last year, the reserves recorded a more significant drop, with a decrease of 1,265.4 Mtnd compared to October 2, 2023, when they stood at 26,586.2 Mtnd. This erosion of reserves reflects the macroeconomic challenges facing the country, including a persistent trade deficit and external debt service obligations.
Cumulative tourism receipts until September 30, 2024, show a slight increase, reaching 5,597.3 Mtnd, compared to 5,403.1 Mtnd the previous month. On the other hand, cumulative cash labor income increased to 5,973.5 Mtnd, strengthening foreign exchange inflows despite a challenging global context.
The external debt service continues to weigh heavily, with a cumulative amount of 10,920.0 Mtnd as of September 30, up 279.7 Mtnd from the previous day. This growing debt service limits the country's ability to replenish its foreign exchange reserves.
