The challenges faced in mobilizing external resources are becoming a growing source of concern for financing both the balance of payments and the State budget. This concern is particularly heightened due to the already elevated levels of debt, as indicated in the latest economic report for the third quarter of 2023 from the Ibn Khaldoun Forum for Development (FIKD), published on November 25, 2023.
The report highlights that the persistent drought for the fourth consecutive year, coupled with a global economic slowdown, has significantly impacted the achievements of the first eight months. This impact is evidenced by limited growth in GDP, a continued decline in investment, and a rise in unemployment.
Despite certain improvements in the balance of payments, attributed to a better trade balance and a substantial increase in tourist receipts, these gains have come at the expense of slowed growth and decreased investment. Additionally, the State budget exhibited a temporary improvement, necessitating the adoption of an Amending Finance Law to address the overall balance for 2023.