Tunisia: Economy Grew in Third Quarter of 2022

Boats enter Al Ataya Port in Kerkennah Islands, off Sfax, Tunisia, October 23, 2022. REUTERS/Jihed Abidellaoui
Boats enter Al Ataya Port in Kerkennah Islands, off Sfax, Tunisia, October 23, 2022. REUTERS/Jihed Abidellaoui
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Tunisia: Economy Grew in Third Quarter of 2022

Boats enter Al Ataya Port in Kerkennah Islands, off Sfax, Tunisia, October 23, 2022. REUTERS/Jihed Abidellaoui
Boats enter Al Ataya Port in Kerkennah Islands, off Sfax, Tunisia, October 23, 2022. REUTERS/Jihed Abidellaoui

Tunisia's economy grew by 2.9% in the third quarter of this year, driven by growth in the services sector, the state statistics institute said on Tuesday.

In the same period last year, growth was 1.7%.

“Over the three months from July to September, the gross domestic product increased by 2.9% on an annual basis, marking an acceleration compared to the two previous quarters (respectively at 2.3% and 2.6%),” it said.

“Despite a difficult global environment and record inflation, economic activity is continuing its recovery dynamic after the 2020 health crisis; a process that is still incomplete, since the national income still remains below its level at the end of 2019,” it added.

Tunisian Minister of Tourism Mohamed Moez Belhassine also announced that the tourism sector welcomed this year more than 5.4 million tourists till November 10, a huge increase (174 percent) compared to the same period last year.

Despite the positive developments in the sector, the number falls short of the influx of tourists in 2019.



Total Revenues at Saudi PIF More Than Double to $88.5 Billion

PIF headquarters in Riyadh. Asharq Al-Awsat
PIF headquarters in Riyadh. Asharq Al-Awsat
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Total Revenues at Saudi PIF More Than Double to $88.5 Billion

PIF headquarters in Riyadh. Asharq Al-Awsat
PIF headquarters in Riyadh. Asharq Al-Awsat

Saudi Arabia's sovereign wealth fund PIF swung to a profit of 138.1 billion riyals ($36.81 billion) in 2023, it said on Monday.

Total revenues at the Public Investment Fund more than doubled to $88.5 billion last year from $44 billion in 2022, according to a regulatory filing.

The rise in revenues was driven by factors including an improvement in both investment and non-investment activities in sectors like banking, telecommunications and gaming, as well as increased dividends.