2023-09-09 08:28:10
Bassem Ennaifer, financial analyst
“The finance law for the year 2023 provided for the mobilization of 2.8 billion dinars through the national bond issue. From September 5 to 12, the process of subscribing to the third tranche of the 2023 national bond begins, with a view to mobilizing an amount of 700 million dinars, subject to revaluation, i.e. the same amount as the first and second tranche. The subscription process for the first tranche made it possible to mobilize around 715 million dinars, while that of the second tranche managed to mobilize 800 million dinars per year. It is expected that the new subscription will result in a success in the same way as that of the first two tranches and should thus result in the mobilization of an amount of more than 700 million dinars. This is the third consecutive year during which Tunisia intends to open the subscription to the national bond loan, as part of the refinancing of the repayment of the debt, which indicates that this bond loan will be annual within the framework of the program of financing on the domestic market. It is very likely that the amounts will increase from year to year.
Ezzedine Saidane, economic expert
“Tunisia’s ability to cover imports at 115 days is a positive indicator. The main source of the increase in the value of net assets in hard currencies is loans and not exports, tourism, remittances from Tunisians abroad or foreign direct investments. The most dangerous scenario that Tunisia is currently facing is to continue borrowing without undertaking deep reforms that help overcome the serious financial crisis the country is going through. The capacity of net foreign currency assets to cover Tunisia’s imports exceeded, on September 5 and for the first time in several months, last year’s data to reach 117 days once morest 113 days.
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