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.



German Coalition Reaches Breakthrough on 2025 Budget, Financial Plan

A German flag blows in the wind in front of a stack of containers at the harbour in Hamburg, Germany, February 24, 2022. REUTERS/Fabian Bimmer/File Photo Purchase Licensing Rights
A German flag blows in the wind in front of a stack of containers at the harbour in Hamburg, Germany, February 24, 2022. REUTERS/Fabian Bimmer/File Photo Purchase Licensing Rights
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German Coalition Reaches Breakthrough on 2025 Budget, Financial Plan

A German flag blows in the wind in front of a stack of containers at the harbour in Hamburg, Germany, February 24, 2022. REUTERS/Fabian Bimmer/File Photo Purchase Licensing Rights
A German flag blows in the wind in front of a stack of containers at the harbour in Hamburg, Germany, February 24, 2022. REUTERS/Fabian Bimmer/File Photo Purchase Licensing Rights

The leaders of Germany's three-party coalition on Friday achieved a breakthrough in negotiations on the national budget for 2025, dpa has learnt from government sources.

The coalition leaders have also reached a preliminary deal on a financial plan to secure additional economic growth of more than 0.5% - worth an estimated €26 million ($28 million) - in the coming year.

Sources told dpa that the coalition plans to stick with strict rules against budget deficits, known as the debt brake, banking on a significant increase in economic output to overcome shortfalls in government spending.

The breakthrough comes after weeks of negotiations between German Chancellor Olaf Scholz of the Social Democratic Party (SPD), Vice Chancellor and Economy Minister Robert Habeck of the Greens and Finance Minister Christian Lindner of the pro-business Free Democratic Party (FDP).

The key sticking point has been a €10 billion deficit in government expenditure, with Lindner's FDP refusing to sideline the debt brake to allow for additional borrowing and investments, and the SPD ruling out any cuts to welfare spending.

Sources told dpa that the new deal includes a supplementary budget totalling €11 billion to overcome lower-than-expected tax revenues and higher government spending.