Tunisia-Transfers of Tunisia’s expat reach TND5,000 million

Tunisia’s expat remittances hit TND5,000 million by the end of July 2022, up TND640 million compared to the same period in 2021, exceeding the country’s tourism revenues, Office of Tunisians Abroad (OTE) Director General Mohamed Mansouri said.

They account for 20% of the forex reserves, allowing to cover the country’s external debts during the first seven months of the current year, he specified in a statement to TAP.

The office is currently seeking to direct these remittances to investment in productive sectors so as to contribute to creating wealth, reducing unemployment and developing growth, he pointed out, recalling that the remittances had usually been used for housing, services and supporting the families of Tunisians abroad.

The OTE is also endeavouring to make this community aware of investment opportunities through the organisation of events, forums and meetings with project idea holders, while trying to simplify the formalities, notably administrative and land-related, and organise working sessions with banks in order to reduce the taxes imposed on the remittances of Tunisians abroad, which remain high, Mansouri said.

The official underlined the need to reinforce the presence of OTE abroad, affirming that this structure is preparing a new strategy aimed at bringing its services closer to the Tunisian community through the appointment of new social attachés in Great Britain and the United States and the reinforcement of the network of attachés in countries where Tunisians are largely present such as France and Italy.

(TAP)