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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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Gulf Countries Committed to Completing GCC Railway Project for Development and Prosperity

Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi.
Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi.
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Gulf Countries Committed to Completing GCC Railway Project for Development and Prosperity

Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi.
Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi.

Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi said on Wednesday that the GCC member states, through their technical committees, are focused on completing the GCC Railway Project as planned to achieve further development and prosperity for their peoples.

Albudaiwi made these remarks during a meeting to review progress on the GCC Railway Project, held at the General Secretariat’s headquarters in Riyadh, with the participation of senior officials from the General Secretariat and the Director-General of the GCC Railways Authority and his team.

Albudaiwi received a presentation from the authority’s Director highlighting the railway project, its current progress, and coordination among the member states.

In his comments, Albudaiwi praised the advanced levels achieved and the efforts made by the concerned teams in the GCC member states and the GCC Railways Authority to complete the project according to its planned phases.

Moreover, he urged the authority to redouble and boost its efforts to realize the project in order to meet the aspirations of the peoples of the GCC countries and achieve a key element of the desired Gulf integration.