The Economic Monitor examines four possible factors behind Tunisia’s slow recovery. First, the drop in mobility related to the pandemic may have been more harmful in Tunisia. However, mobility in Tunisia has dropped to a similar extent as other countries and it has now returned to pre-pandemic levels following the acceleration in the vaccination campaign since July. If anything, the mobility drop in Tunisia has resulted in a lower reduction in economic activity than in comparator countries as Algeria and Egypt. Second, it could be that the level of public support to the ailing firms and households may have been particularly low. However, at 2.3 percent of GDP, the Covid-19 stimulus package in 2020 was in the same ballpark as other comparators in the region. Third, the structure of the Tunisian economy, particularly its reliance on tourism, may have exposed it to the negative demand shock more than other countries. Indeed hotels, cafe and restaurant and transport are the sectors which have contracted the most since the start of the pandemic. The losses of these sectors explain a significant portion of the negative effects of the crisis in Tunisia, although they do not fully account for such slow recovery.
Información
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Autor
Cali,Massimiliano, Zitouna,Mohamed Habib, Andrianaivo,Mihasonirina, Berraies,Dorra, Hachicha Ep Ben Abdallah,Safia, Marrakchi Ep Charfi,Fatma, Drozd,Maciej Adam, Malouche,Mariem
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Fecha del documento
2022/01/20
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Tipo de documento
Informe
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Número del informe
167938
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Volumen
1
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Total Volume(s)
1
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País
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Región
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Fecha de divulgación
2022/01/21
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Disclosure Status
Disclosed
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Nom. del doc.
Executive Summary
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Palabras clave
high unemployment rate; reallocation of resource; restrictions on investments; central bank financing; crowding out; negative demand shock; barrier to competition; confidence of investor; lack of institutions; acceleration of inflation; debt repayment; budget deficit; public debt; rising debt; budgetary deficit; real sector; debt service; fiscal deficit; public expenditure; tax receipt; public finance; stimulus package; fiscal pressure; fair competition; vaccination effort; several factors; downside risk; lower price; high employment; weak enforcement; gradual decline; business conduct; market participant; international capital; recent progress; commercial sector; public reform; preferential treatment; direct ownership; trade deficit; economic reform; sovereign rating; negative effect; obsolete bankruptcy; comparator country; vaccination campaign; factor market; risk assessment; financial product; public support; economic recovery; viable business
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