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World Bank Expects Tunisia’s Economic Growth to Rebound 3.5% in 2022

People queue to receives their coronavirus vaccines at El-Menzah Stadium which was turned into a vaccination center in the Tunisian capital Tunis on August 3, 2021. (AFP)
People queue to receives their coronavirus vaccines at El-Menzah Stadium which was turned into a vaccination center in the Tunisian capital Tunis on August 3, 2021. (AFP)
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World Bank Expects Tunisia’s Economic Growth to Rebound 3.5% in 2022

People queue to receives their coronavirus vaccines at El-Menzah Stadium which was turned into a vaccination center in the Tunisian capital Tunis on August 3, 2021. (AFP)
People queue to receives their coronavirus vaccines at El-Menzah Stadium which was turned into a vaccination center in the Tunisian capital Tunis on August 3, 2021. (AFP)

Tunisia’s economic growth should rebound to 3.5 percent in 2022 and decelerate to 3.3 percent in 2023 compared to 2.9 percent in 2021, according to the latest Global Economic Prospects published by the World Bank.

A surge in COVID-19 cases and political uncertainty throttled the rebound in 2021, the document said.

Economist Jannat bin Abdullah said the economy is affected by the oil prices in the global market. This, in its turn, impacts the trade deficit of the economy.

The Ministry of Finance based the 2021 budget on the reference price of $45, but this figure was proven unrealistic. The country tentatively expected this year’s barrel price to be $75.

Some experts expect the oil prices to exceed this number, and this would negatively affect the economy, said bin Abdullah.

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Saudi Arabia Strengthens Relations with Danish Private Sector to Boost Bilateral Trade

Saudi Industry Minister strengthens relations with Danish private sector to boost bilateral trade. (SPA)
Saudi Industry Minister strengthens relations with Danish private sector to boost bilateral trade. (SPA)
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Saudi Arabia Strengthens Relations with Danish Private Sector to Boost Bilateral Trade

Saudi Industry Minister strengthens relations with Danish private sector to boost bilateral trade. (SPA)
Saudi Industry Minister strengthens relations with Danish private sector to boost bilateral trade. (SPA)

Saudi Minister of Industry and Mineral Resources, Bandar Alkhorayef, held a series of bilateral meetings on Friday with leaders of several leading Danish companies in the industry and mining sectors. Discussions covered joint investment opportunities, as well as the enablers and incentives offered by the Kingdom to investors, the Saudi Press Agency reported.
The meetings focused on strengthening cooperation in the industrial and mining sectors between the two sides, with an emphasis on leveraging the strategic opportunities presented by the National Strategy for Industry across its 12 priority sectors that the Kingdom aims to localize and develop. This was discussed alongside the opportunities provided by the comprehensive mining strategy, in line with the objectives of Saudi Vision 2030.
Alkhorayef also met with executives from the pharmaceutical, food, and mining sectors, including FLSmidth, Danfoss, Novo Holdings, Novonesis, and Arla Foods.
The visit reflects Saudi Arabia’s continued efforts to deepen economic partnerships with leading industrial nations and attract global expertise to accelerate the growth and competitiveness of the Kingdom's industrial and mining sectors.