The three decades before the 2007-08 global financial crisis were marked by the world’s financial networks becoming increasingly interconnected. Financial system regulatory convergence, the growing penetration of World Trade Organisation rules and the creation of currency unions, such as the euro, resulted in a surge in cross-border capital...
Long-viewed as an open economy with a unique geographic position at the centre of the Mediterranean, Tunisia has had difficulty in managing the macroeconomic situation following the 2011 revolution. Budgetary pressures, combined with a strong devaluation of the dinar and a rise in the level of business informality, have made the current...
As a strained budgetary situation has been a challenge to public investment, efforts have been made to encourage the private sector to take on a larger share of necessary works. To attract the interest of foreign and domestic investors, Tunisian authorities have strengthened the regulation overseeing public-private partnership (PPP) agreements...
As Tunisia attempts to balance its budget and free enough financial resources for investment programmes, dealing with the rise of business informality and tax evasion has become of paramount importance. Although exact figures on the issue are difficult to quantify, studies point to an increase in the volume of informal activity following the...
Despite GDP growth struggling to reach pre-2011 levels, the government estimated growth of 2.5% in 2018 and has forecast it will reach 3% in 2019. Two pieces of legislation introduced since 2018 should aid this expansion and provide a degree of increased confidence. The Transversal Law aims to improve business conditions while the Start-up Act...
The Republic of Tunisia established a unitary semi-presidential democratic government after its independence from France in 1956. The country’s first half-century of sovereignty was marked by steady social progress and reasonably robust economic development. Under the reign of President Zine El Abidine Ben Ali, who ruled from 1987 to his...
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