According to IMF representative to Tunisia, The growth rate in Tunisia will reach 3 percent in 2015, an increase with the respect to the 2.4 percent of 2014. According to IMF estimates, inflation will rise 5 percent in 2015 in Tunisia (compared to 4.9 percent in 2014) and the current account deficit will improve reaching -6.6 percent of the GDP (it stood at -8.9 percent last year). The global deficit will instead increase reaching -5.3 percent of the GDP. The IMF stressed that the decline of oil prices in international markets could represent an opportunity for Tunisia to improve its public deficit as most calculations were based on higher oil prices.
[ANSAmed, 2/27/2015]
Libya needs international maritime force to stop illicit trade, say UN experts
Libyan authorities are unable to halt the illicit trade in oil or the flow of weapons in and out of the country, and they need an international maritime force to help, United Nations sanctions monitors said in a new report. The confidential report by the UN Security Council’s Panel of Experts on Libya will likely increase pressure on major world powers to consider intervention to stop the North African state from spinning further out of control. The panel said that UN exemptions aimed at enabling Libyan authorities to buy munitions to establish law and order have helped militias develop considerable arsenals. The panel also said the illicit export of crude oil and oil products was providing “funding to the ongoing conflict.” [Reuters, 2/26/2015]
Egypt could raise up to $2 billion in Eurobond issue
According to Egyptian finance minister, Egypt could raise as much as $2 billion through a Eurobond this year and expects economic growth of close to 7 percent in three years’ time. He clarified that a dollar-denominated Eurobond would be launched in June at the latest, but could come earlier. Talking about growth prospects, the minister confirmed he expected growth of at least 4 percent in the fiscal year ending in June, and predicted a return to higher growth in the medium term. [Reuters, 2/27/2015]
AfDB praises Morocco’s economic performance
The Chairman of the African Development Bank (AfDB) praised the “satisfactory” economic performance of Morocco in recent years, despite the international crisis. He said that the country managed to maintain “pretty respectable” growth rates in recent years that have enabled it take up the challenges of youth employment and the diversification of its economy. The chairman also hailed how the “excellent” cooperation between Morocco and AfDB translated into significant commitments in all sectors. [Morocco World News, 2/27/2015]
Also of interest:
Bahrain banks on infrastructure, private sector to ride out cheap oil | Reuters
Funds increasingly bullish on Saudi Arabian equities | Reuters
Egypt turns to Europe for investment | The National
Egypt army could play role in new Suez lifeline | Ahram Online/Albawaba
Fuel prices expected to rise by 10-15 percent in Jordan | The Jordan Times
Islamic State must keep expanding to survive | Reuters