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World

Tunisia supplementary budget cuts planned 2020 budget deficit to 11.4pc

  • The government has come under pressure from parliament and the central bank to cut spending.
  • Tunisia's public finances are in a dire situation, with the highest budget deficit in nearly four decades.
14 Nov 2020

TUNIS: Tunisia will reduce its planned 2020 budget deficit to 11.4% of GDP in its supplementary budget bill from 14% previously, according to a government document seen by Reuters on Saturday.

The government has come under pressure from parliament and the central bank to cut spending.

The bill plans additional financing of around 8.1 billion dinars ($3 billion) compared with around 12 billion previously, the document showed.

Tunisia's public finances are in a dire situation, with the highest budget deficit in nearly four decades.

The government has asked the central bank to buy treasury bonds to help finance the deficit.

Central bank chief Marouan Abassi said this month the bank could finance the deficit up to an equivalent of 3% of gross domestic product (GDP), but would need parliamentary approval to buy bonds.