Empty sun loungers on the beach near the Hasdrubal Hotel in Hammamet, Tunisia on March 12, 2020. Photo taken on March 12, 2020 REUTERS / Zoubeir Souissi
Tunisia’s gross domestic product fell 3% in the first quarter of 2021 compared to last year, the State Institute of Statistics said Saturday, demonstrating the impact of the coronavirus pandemic on the country’s tourism industry.
Tourism accounts for about 8% of Tunisia’s GDP and is the main source of foreign exchange. In the first quarter of 2020, Tunisia’s GDP contracted 1.7% compared to the same period a year earlier.
Tunisia, which experienced a surge in debt and an 8.8% contraction in real terms last year, has begun negotiations with the International Monetary Fund to provide a bailout package.
The State Statistics Institute said the unemployment rate is 17.8% amid the country’s unprecedented economic crisis, which led to a record budget deficit of more than 11% in 2020.
Our standards: Thomson Reuters Trust Principles.
Disclaimer: The facts and opinions appearing in the article do not reflect the views of Rv Article and Rv Article does not assume any responsibility or liability for the same.