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Tunisia’s Dinar Hits Record Low Versus Dollar

A man displays Tunisian dinar banknotes after withdrawing cash from an ATM machine in Tunis, Tunisia, on May 25, 2021. (Reuters)
A man displays Tunisian dinar banknotes after withdrawing cash from an ATM machine in Tunis, Tunisia, on May 25, 2021. (Reuters)
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Tunisia’s Dinar Hits Record Low Versus Dollar

A man displays Tunisian dinar banknotes after withdrawing cash from an ATM machine in Tunis, Tunisia, on May 25, 2021. (Reuters)
A man displays Tunisian dinar banknotes after withdrawing cash from an ATM machine in Tunis, Tunisia, on May 25, 2021. (Reuters)

Tunisia’s dinar currency has fallen to record lows versus the dollar, driven down by high inflation, a worsening trade deficit and the severe impact of the Ukraine crisis on public finances.

It traded at 3.074 against the dollar on Thursday, central bank data showed on Friday.

Energy Minister Naila Nouira said on Thursday that Tunisia faces additional budget losses of about $1.31 billion because of the war in Ukraine, which has caused global energy and some food prices to soar.

Earlier this month, the state statistics institute said Tunisia’s trade deficit had widened to 4.3 billion dinars ($1.41 billion) in Q1 2022, up from three billion dinars in the same period last year.

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Saudi Arabia Records Significant Increase in Potato Production

Saudi Arabia Records Significant Increase in Potato Production
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Saudi Arabia Records Significant Increase in Potato Production

Saudi Arabia Records Significant Increase in Potato Production

The Saudi Ministry of Environment, Water and Agriculture announced a remarkable 47% increase in potato production in 2023, achieving a self-sufficiency rate of 86% with over 621,750 tons of potatoes produced compared to 423,770 tons in 2021.

This milestone was achieved after more than 17,000 hectares of land were cultivated with potatoes in 2023, up from 15,890 hectares in 2021. The potato production surge has positively impacted the manufacturing sector, stimulating investment and the use of advanced technologies.

According to the Ministry, overall vegetable production in 2023 reached 3.21 million tons, marking a 19% rise from 2020.

The significant improvement in agricultural productivity and its SAR109 billion contribution to the GDP are attributed to the Ministry's strategic initiatives focused on boosting self-sufficiency, attracting investments, and providing financial support, including increased financing rates for modern technology-based projects.

By prioritizing local production and reducing reliance on imports, the ministry aims to achieve the goals outlined in Saudi Vision 2030 and diversifying the national economy.