Tunisia Bags EU, IMF Cash But Oil & Gas Output At Record Lows

Tunisia is to receive €500mn in concessionary loans from the EU to “assist in overcoming its economic difficulties and achieving more sustainable growth.”

EU economy commissioner Pierre Moscovici says that it is crucial that Tunisia remains an example to the region. “Tunisia’s political transition process has been facing so many economic challenges since 2011;” recent terrorist attacks “have exacerbated an already vulnerable balance of payments and fiscal position, creating important financing needs,” he says.

Tunisia, the pioneer of the 2011 Arab Spring revolts, suffered several deadly attacks by IS-inspired terrorists in 2015, including on a museum in the capital Tunis and a tourist beach resort in Sousse. The EU's latest program complements existing EU development assistance to Tunisia – more than €1bn in grants since 2011 in support of socio-economic development and job creation during the democratic transition process. (CONTINUED - 456 WORDS)


chart Tunisia's Collapsing Oil, Gas Output
chart OMV Net Tunisia Production ('000 BOE/D)