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Asharq Al-Awsat
Asharq Al-Awsat
Business
Tunis, London - Mongi Saidani and Asharq Al-Awsat

Tunisia Tourism Revenues Jump 44% in 8 Months

A tourist looks at traditional souvenirs displayed for sale in Sidi Bou Said, near Tunis, Tunisia January 7, 2019. (Reuters)

Tourism revenues in Tunisia jumped 44 percent to TND3.16 billion (USD1.12 billion) year-on-year to August 10, official figures showed on Monday.

Tourism - a key source of foreign currency - accounts for 8 percent of Tunisia’s GDP.

The central bank said revenues last year during the same period were TND2.19 billion (USD762.8 million).

Tunisia expects tourist arrivals to reach 9 million for the first time in 2019 with major promotional campaigns to bring back tourists from traditional markets, such as France, Britain and Germany.

Last year, Tunisia welcomed 8.3 million tourists.

Meanwhile, the government is preparing to reveal a supplementary financial law to fill several gaps in the current state budget.

The Ministry of Finance has affirmed that the programmed level of debt for 2019 was completely exceeded during the first seven months of 2019.

Tunisia had received three loans worth TND4.2 billion (around USD1.4 billion), which means that the registered debt reached TND86.8 billion (around USD29 billion) by the end of July.

Authorities had programmed during discussions on the state budget more than TND82.8 billion for the whole year.

Several economic and financial experts said that the fuels sector has consumed more than half of the subsidies budget, making it obligatory to prepare a supplementary financial law to overcome financial obstacles.

The Finance Ministry had allocated TND2,100 million to support the fuel sector in 2019. However, government data showed that the sector consumed during H1 of 2019 around TND1,690 million from TND690 million during the same period of 2018.

Economist Jannat bin Abdullah said that the delay in production at the Nawara Development Project from June to October made it obligatory to rely on a supplementary financial law.

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