Tunisia Prepares Economic Reform Program to Discuss with IMF

The Tunisian government revealed an economic reform program that it intends to implement in the coming years (AFP)
The Tunisian government revealed an economic reform program that it intends to implement in the coming years (AFP)
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Tunisia Prepares Economic Reform Program to Discuss with IMF

The Tunisian government revealed an economic reform program that it intends to implement in the coming years (AFP)
The Tunisian government revealed an economic reform program that it intends to implement in the coming years (AFP)

The Tunisian government announced its economic reforms program for the coming years. The program will be presented to the International Monetary Fund (IMF) to obtain funds for the state budget to restore the balance of public finances and raise growth levels.

In its negotiations with the IMF, the Tunisian government relies on reforms that it intends to implement to get out of the stifling economic and financial crisis.

The government plans to freeze the public-sector wage increases and assignments between 2022 and 2024.

It will also review the state's policy at the level of its contribution to the capital of non-strategic institutions, in addition to allocating some of them starting from this year and moving towards the gradual lifting of subsidies assigned to fuel to reach their actual price by the end of 2026.

Meanwhile, the "I Watch" organization revealed some Arab states vowed to finance the Tunisian budget deficit, with a value of no less than TD2.9 billion within the framework of bilateral financial cooperation.

Tunisia received a $300-million loan from neighboring Algeria.

The Tunisian Central Bank urged the government to speed up negotiations with the IMF and agree on a new economic program to send positive signals to foreign and local investors and improve sovereign rating.

The Central Bank announced the recovery of remittances, which rose by 34.9 percent, in addition to an improvement in the tourism sector's revenues by 6.6 percent at the end of last year.

According to several financial experts, the Ministry of Finance predicted a growth rate of no less than 4 percent during the past year and then dropped it to 2.5 percent, which is difficult to achieve.

Tunisia's budget deficit increased from 1 percent in 2010 to 9.6 percent in 2020 due to the financial crisis.

The deficit is expected to reach 8.3 percent during 2021, a figure exceeding the 3 percent threshold, which requires structural economic reforms rejected by many social and economic parties, especially union leaders.



Saudi stc Group Records Highest Six-Month Net Profit

stc pavilion at the LEAP 24 International Conference in Riyadh (Asharq Al-Awsat) 
stc pavilion at the LEAP 24 International Conference in Riyadh (Asharq Al-Awsat) 
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Saudi stc Group Records Highest Six-Month Net Profit

stc pavilion at the LEAP 24 International Conference in Riyadh (Asharq Al-Awsat) 
stc pavilion at the LEAP 24 International Conference in Riyadh (Asharq Al-Awsat) 

Saudi Arabia’s telecom company, stc Group, announced on Sunday its highest-ever six-month revenues, reaching 38.66 billion Saudi riyals ($10.3 billion).

Net profit for the six-month period increased by 13.38% compared to the same period last year, reaching 7.4 billion riyals ($1.99 billion).

In a statement on the Saudi Exchange (Tadawul), stc said Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) also rose by 6.10% over the same period to 12.2 billion riyals ($3.28 billion).

Commenting on the results, CEO of stc Group Engineer Olayan Alwetaid said the group continued to deliver strong performance by adhering to its strategy and leveraging opportunities in the Information and Communication Technology (ICT) sector.

He noted that financial discipline and efficient capital management were key drivers of business stability, adaptability, and confident expansion into future growth areas.

According to stc Group, “This was reflected in the group's financial performance, with a 2.1% increase in revenue and a 6.6% rise in gross profit during the first six months of the year compared to the same period last year.”
The group’s Cost Efficiency Program also contributed significantly to enhancing operational and financial performance, resulting in EBITDA growth of 6.1% and an increase in the EBITDA margin by 3.9 percentage points to 31.8%, which in turn led to a notable increase in net profit.

“This led to an increase in net profit for the six-month by 13.38% compared to the same period last year, reaching 7.5 billion riyals ($2 billion),” the group said.

Alwetaid said the rising demand for the group’s services as a testament to public trust in its digital solutions.

He said this was exemplified by STC Bank surpassing three million customers in a short period since its launch at the beginning of 2025, reflecting the growing adoption of digital banking services and stc’s expanding role in advancing the financial services sector.

In line with its commitment to maintaining leadership in telecommunications and IT, stc Group signed several strategic agreements in recent months. In the field of cloud computing, the group entered into a partnership with Oracle valued at over 2 billion Saudi riyals ($533 million) to accelerate digital transformation across the Kingdom.

The agreement aims to develop advanced AI-powered cloud infrastructure and provide sovereign cloud solutions via the Oracle Alloy platform, hosted at center3’s data centers.
Additionally, stc Group released its sixth Sustainability Report for 2024, highlighting progress in sustainability, environmental and social responsibility, and governance.

The report detailed the Group’s efforts to improve environmental performance, develop human capital through digital innovation, and uphold effective governance and ethical standards.

Reflecting these achievements, the Group’s ESG rating was upgraded from “BBB” to “A” in the latest MSCI ratings, affirming its commitment to the highest local and international sustainability standards.