Tunisia-Tunisian economy suffers Historic recession of 8.8%

The Tunisian economy registered in 2020 an unparalleled drop of 8.8% (-8.8%) as opposed to 2019, the National Institute of Statistics (INS) announced in a press release on Monday.

In the fourth quarter of 2020, the gross domestic product (GDP) declined by 6.1% (-6.1%) compared to the fourth quarter of 2019 rthe INS reported.

Compared to the third quarter of this year, GDP decreased by 0.3% (-0.3%), the TAP reported. It should be noted that the growth rate for the second quarter was revised by 0.4 point to reach (-21.3%) and the growth rate for the third quarter was revised by 0.3 point to (- 5.7%).

These results, which are largely explained by reductions recorded in essential sectors, are far from the government’s estimates established in the 2020 complementary finance law (a contraction of 7.3%).