Saturday, August 22, 2009

Global Arab Network | Tunisia - Expanding economy in crisis time | Economics

Global Arab Network | Tunisia - Expanding economy in crisis time | Economics: "Tunisia - Expanding economy in crisis time PDF Print E-mail
Edited by Mark Newton
Friday, 21 August 2009 17:53
In spite of the economic crisis, Tunisian economy received a boost, with official figures showing strong growth, alongside a slowing inflation rate and an increase in foreign reserves.

The economy is growing; industrial projects are also maintained and the upgrading of the country’s industrial network is pursued.

A recent report by the Tunisian Ministry of industry, energy and small and medium enterprises shows that Tunisia is coping well in face of the global economic downturn which has wreaked havoc in the economies of both emerging and industrial nations. In spite of a regression of the manufacturing industry as shown by the decrease in the exports of manufactured goods by 17%, the electric wire industry and clothing and garments have posted growths respectively of 12 and 11%.

Industrial projects are also maintained as shown by the car component project in Beja which has created some 1400 employments and which is expected to create 3500 jobs by 2010.

Similarly, the projected Airbus plant, estimated at some 56 million dinars, at El Mghira, near Tunis, will create some 750 employments during the first phase of the project.

In the sector of energy the production of petrol has also increased by 5% in 2009 to reach 690,000 tons against 665,000 tons in 2008. Natural gas production is also on the increase (17%) with a production of 610,000 tons in 2009 as against 521,000 tons in 2008.

The report notes that even if the Tunisian industry is not immune to the consequences of the global economic crisis, it has shown much resilience. It adds that Tunisian industrial companies must also seize the opportunities offered the current crisis and turn them to their advantage."

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