News Tunisia: Mechichi draws up a catastrophic inventory of the economic situation

03:20  05 november  2020
03:20  05 november  2020 Source:   rfi.fr

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Tunisia 's parliament has approved a new technocratic government tasked with tackling deep social and economic woes in the North African country "Mr Saied wanted a prime minister at his command, the presidency intervened a lot in the composition of the government, and Mr Mechichi ended up turning

Economies experience a positive growth trend over the long run, but experience significant variability in the short run. Higher rates of unemployment are linked to higher crime rates and other social problems., A larger fraction of the nation's labor resource is going unutilized., There is lost output that

Le Premier ministre tunisien s'exprimant le 3 novembre 2020 sur la situation économique du pays. © FETHI BELAID / AFP The Tunisian Prime Minister speaking on November 3, 2020 on the economic situation of the country.

Tunisia is going through an unprecedented crisis aggravated by the health crisis. The head of government on Tuesday drew up an inventory of the economic and social situation. Accounts in the red, unemployment at its highest and an exodus of young people to Europe, all elements that Hichem Mechichi intends to correct.

With our correspondent in Tunis, Michel Picard

"Tunisia is not bankrupt", launched the chief executive announcing all the same that in 2020, the budget deficit will reach the record level of 14% of GDP.

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The remaining inventory , therefore is assumed to consist of the earliest purchases. It is not necessary to keep track of the specific items sold and those still in inventory . Also, it is not possible to manipulate income merely by selecting the specific items to be delivered to the customers.

Since the fall of Ben Ali in 2011, the country has failed, he said, to design an economic model capable of giving Tunisians hope. Among the consequences, unemployment which now reaches nearly 20%. And this lack of visibility has reinforced, according to him, illegal migration to Europe.

To stop the bleeding and restore the taste of Tunisia to young people tempted by the old continent, Hichem Mechichi is waiting for a gesture from the central bank and is betting on major reforms in the 2021 budget bill.

“We must return to work ! "Declared the tenant of the Kasbah who also refuses any blocking of the exploitation of the country's wealth. He wants to put an end to the social movements which for months have been disrupting the production of phosphate and oil.

►Also listen: Guest Africa - Coronavirus in Tunisia: "Inequalities will become structural"

As regards international financing, the IMF's four-year plan ended in the spring. The outcome of the new, ongoing request could make it easier to get help from other international donors.

Italy ready to further widen its deficit in 2021 to counter the economic crisis linked to Covid-19 .
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