Tunisia Mobilizes Support ahead of IMF Talks

Tunisia is mobilizing support ahead of IMF talks.
Tunisia is mobilizing support ahead of IMF talks.
TT
20

Tunisia Mobilizes Support ahead of IMF Talks

Tunisia is mobilizing support ahead of IMF talks.
Tunisia is mobilizing support ahead of IMF talks.

Tunisia is preparing to head to the International Monetary Fund (IMF) in May to persuade the Fund to support its domestic economic reforms programs.

Prime Minister Hichem Mechichi held a series of preparatory meetings ahead of the talks.

Ambassador of the United States in Tunis Donald Blome affirmed during talks with the PM on Thursday his country's support for Tunisia in its negotiations with the IMF to raise necessary financial resources.

Blome added that the US administration is fully ready to support Tunisia's development efforts and ensure the success of the democratic process, the Prime Ministry said in a statement.

The ambassador also welcomed the progress made in the development program led by the Millennium Challenge Corporation in Tunisia, which will provide about $500 million in donations to support the national economy, especially in transportation and agriculture.

Ambassador of the European Union to Tunisia, Marcus Cornaro, on Thursday, expressed the EU's full support to the efforts of the Tunisian government in its national economic reform program.

Speaking during a meeting with Mechichi in Kasbah on Thursday, Cornaro added that the EU has support and cooperation mechanisms that will be made available to the Tunisian government, according to a statement from the Prime Ministry.

He stressed that the EU will be the first to defend Tunisia with member countries through ambitious investment and employment programs.

According to the IMF, Tunisia ended 2020 with an 8.8 percent recession. Tunisia’s current budget has a deficit of TND18.5 billion ($6.7 billion) and is likely to increase, according to preliminary estimates.



GASTAT: Saudi Non-Oil Exports Rose by 13.1% in 2024

General Authority for Statistics (GASTAT) logo
General Authority for Statistics (GASTAT) logo
TT
20

GASTAT: Saudi Non-Oil Exports Rose by 13.1% in 2024

General Authority for Statistics (GASTAT) logo
General Authority for Statistics (GASTAT) logo

Saudi Arabia’s General Authority for Statistics (GASTAT) said in the 2024 International Trade Statistics Bulletin that there was an 13.1% increase in non-oil exports (including re-exports) compared to 2023.

However, total merchandise exports declined by 4.5% year-on-year, while imports rose by 12.5% in 2024.

According to the bulletin, the ratio of non-oil exports (including re-exports) to imports increased to 35.3% in 2024, up from 35.1% in 2023.

Meanwhile, the share of oil exports in total exports decreased from 77.3% in 2023 to 73.1% in 2024.

The bulletin showed that “chemical industry products” topped the list of non-oil exports, accounting for 25.5% of the total, while “machinery, electrical equipment, and parts” led imports with a 25.3% share.

China remained Saudi Arabia’s top trading partner in merchandise trade, accounting for 15.2% of total Saudi exports in 2024, while imports from China accounted for 23.9% of the Kingdom’s total imports during the same year.