Liberalization

Tunisia has chosen a liberal economy :

• The freedom of investment is guaranteed in a great number of branches of industry
• The rate of openness of the production to international competition is 96%
• 87% of the producer prices meet the market mechanisms
• The disengagement of the State is organized progressively within the framework of a privatization program of the public companies
• The activities of public service are opened to the Tunisian and foreign private companies within the framework of concession contracts.

Investment rates as % of GPD:

Openness

The regulatory system set up supports the openness of the transactions and the public markets thanks to :

• The systematic procedure of tender for the public markets and privatization
• The obligation for the companies to present their accounts in conformity with the accounting system in force, at international level
• A legislation securing free competition in commercial transactions

Growth

Growth indicators point to the positive results reached by the Tunisian economy :

•Between 2006 and 2009, the average growth rate was of about 4.9% per year at constant prices resulting in an average annual growth of the GNAI per capita of about 8.3 % over the same period.

• The income per capita of inhabitant increases on average of 3% a year.
• Exports increase at a sustained pace (about 6,7% since 1987). Manufacturing industries and tourism in these exports account for 75%.
• Thanks to the rationalization of public expenditure, the deficit budget which was 5,9% in 1991, has been reduced to 2,6% into 2002; the objective for 2009 being to reduce it to 3%
•With a growth rate above the average seen in mediterranean countries (around 5% between 1995 and 2008) and an increase in foreign direct investment (FDI), Tunisia had a balance-of-payments surplus of TND 2.053bn (€1.08bn) in 2008 and a current account deficit of TND 2.109bn (€1.11bn), or 4.2% of GDP.
• Foreign debt, at 27,9% of the current receipts in 1986, fell to 18,1% in the year 2000 and is estimated at 15,3% in 2001and 3.9 in 2010
• Inflation decelerated to 3,1% in 1998 compared with 8,2% in 1991, it fell to 1,9% in 2001and 3,7 in 2009
• As a result of the growth performance and the development of several means of mobilization, the rate of the national saving has been accelerating since 1986 with a rate of 15,6%, hitting 25,8% in 2001 and 23.3 in 2010.

Performances

The latest report on global competitiveness 2009-2010 issued by the Davos World Economic Forum ranks Tunisia 40th out of a total of 133 developped and emerging countries in terms of global competitiveness being hence ahead of several countries of the EU.

The French Company for the Credit Insurance Export (COFACE) classifies Tunisia as a country of a limited risk in the short run and of a suitable risk for the average and long term.