Further macro-financial aid to Tunisia

Briefing 07-09-2016

The Tunisian economy has faced serious difficulties since the 2011 revolution. In 2015, the economic situation was significantly affected by the terrorist attacks and production disruption, exacerbating the country's already weak fiscal and balance-of-payments position and resulting in sizeable financing needs. As part of the EU's commitment to supporting the consolidation of democratic mechanisms in the country, the European Commission proposed to grant macro-financial assistance (MFA) to Tunisia for a second time, amounting to a maximum of €500 million. The regulation follows the first grant of MFA, of €300 million, approved in 2014, the last tranche of which is expected to be disbursed in the course of 2016. The EU’s aid will complement the International Monetary Fund's new programme of about US$2.9 billion, focusing on stronger and more inclusive growth and job creation. This updates a previous edition, of May 2016: PE 582.042.