The Good News in Tunisia Just Got Better
The good news in Tunisia? Real GDP growth is expected to average 3% in 2013 and 3.7% in 2014, and during the first half of this year, inflation and unemployment were both down. For the second year in a row since it became part of the ranking, the country is number one in North Africa in the Ease of Doing Business Report of the World Economic Forum , earning high ranks for enforcing contracts, cross-border trade and protecting investors. That’s some of the good news, but according to the International Monetary Fund, more needs to be done.
The IMF has urged Tunisia to speed implementation of its reform program to generate more rapid and inclusive growth, support private sector development, and address high youth unemployment, among other priorities.
In a move that will support these goals, GE recently signed a memorandum of understanding (MoU) with the Tunisian Ministry of Development and International Cooperation. The MoU aims to develop critical infrastructure projects and strengthen the all-round economic competitiveness of the nation, with GE focusing on promoting entrepreneurship, job creation for Tunisian youth, and exports.
At the signing, Lamine Doghri, Tunisian Minister of Development and International Cooperation, said, “Our agreement with GE has the potential to bring mega-infrastructure projects that accelerate growth and boost our economic competitiveness.”
The key sectors of interest will be transportation, healthcare and energy, with GE looking to explore potential equity engagement and financing, identify opportunities for national project development and undertake localization and human capital development initiatives.
For more on GE’s activities to support growth, development and job creation in the Middle East and North Africa, click here.