{
  "title": "Tunisia: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Tunisia",
  "publication": "IMF Staff Country Reports, February 26, 2021",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2021/02/26/tunisia-2020-article-iv-consultation-press-release-staff-report-and-statement-by-the-50128",
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  "summary": "The pandemic aggravated Tunisia’s long-standing vulnerabilities stemming from persistent fiscal and external imbalances, rising debt, and contingent liabilities from inefficient state-owned enterprises. The crisis is expected to induce the largest contraction in real GDP since independence.",
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      "heading": "Key findings on economic impact and outlook",
      "content": "- The pandemic aggravated Tunisia’s long-standing vulnerabilities stemming from persistent fiscal and external imbalances, rising debt, and contingent liabilities from inefficient state-owned enterprises.\n- The crisis is expected to induce the largest contraction in real GDP since independence.\n- Staff expects GDP growth to rebound modestly in 2021, but it could take years before activity returns to pre-crisis levels, especially if large imbalances were not addressed and key reforms delayed.\n- Downside risks dominate the outlook.\n- Recent protests highlight elevated social tensions, aggravated by Covid-19 restrictions, and particularly among the youth."
    },
    {
      "heading": "Fiscal and policy developments",
      "content": "- The authorities’ targeted response together with higher outlays on wages widened the fiscal deficit.\n- A second Covid-19 wave is underway.\n- The authorities are securing 500,000 doses to start a first campaign of vaccinations in February and are aiming to secure more doses to vaccinate half of the population starting in April–May.\n\n---\n\n Content in this bundle\n\n- 1tunea2021001\n  - 1tunea2021001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1tunea2021001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: February 26, 2021",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513570600.002",
    "The pandemic aggravated Tunisia’s long-standing vulnerabilities stemming from persistent fiscal and external imbalances, rising debt, and contingent liabilities from inefficient state-owned enterprises.",
    "The crisis is expected to induce the largest contraction in real GDP since independence.",
    "Staff expects GDP growth to rebound modestly in 2021, but it could take years before activity returns to pre-crisis levels, especially if large imbalances were not addressed and key reforms delayed.",
    "Downside risks dominate the outlook.",
    "Recent protests highlight elevated social tensions, aggravated by Covid-19 restrictions, and particularly among the youth.",
    "The authorities’ targeted response together with higher outlays on wages widened the fiscal deficit.",
    "A second Covid-19 wave is underway.",
    "The authorities are securing 500,000 doses to start a first campaign of vaccinations in February and are aiming to secure more doses to vaccinate half of the population starting in April–May.",
    "**1tunea2021001**"
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