Marwan Al-Abbasi, the head of the Tunisian Central Bank, announced on Saturday that difficult economic reforms that have been delayed for years will soon get underway. He also noted that the financial authorities are working to keep the dinar stable.
Marwan Al-Abbasi emphasised that “this period will be approved difficult reforms with care for the weak of citizens and institutions that suffer from difficulties” in a statement to “Shams FM” radio on the eve of a regional day about the function of the accountant’s expert in the management of the institution during crises.
Al-Abbasi claimed that when a crisis is present, drastic solutions are needed because economic and band-aid fixes are no longer sufficient to address problems head-on.
According to Al-Abbasi, Tunisia has backed away from challenging reforms since 2010.
He explained that the trend will now be to find radical solutions for each sector.
He stated that the Tunisian dinar has no influence other than with the economy, export, and the fall in foreign and domestic investment in response to a query regarding concerns about the dinar floating.
Al -Abbasi stated that the dinar was stable during the last 3 years and currently there are changes at the level of the euro and dollars, which may affect the stability of the Tunisian currency, as he put it.
Al-Abbasi emphasised that the stability of the dinar is a benefit and that work will be done to maintain it.
According to government authorities, reforms in the upcoming years are anticipated to reduce food and energy subsidies, as well as repair public firms and lower the share of wages in GDP.
This month, Tunisia and the IMF struck a preliminary understanding over a $1.9 billion rescue package to be delivered in December 2022.
Since months, Tunisia has been in desperate need of foreign aid due to a public financial crisis that has fueled fears that it may be unable to pay its bills and caused a shortage of food and fuel.
Source: Agencies plus “Shams FM.”
Tunisian Central Bank: Soon, we’ll begin arduous economic changes.
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