EconSource: Tunisia Debates Budget Bill

Follow the latest in economic news and developments about the Arab transition countries. 

Tunisia’s proposed complementary finance law (LFC) includes many new taxes, causing widespread controversy. The bill, published last week, proposes a levy of one to six days’ worth of the employees’ wages depending on their salary brackets. A 30 dinar per night supplementary tax on hotel stays for foreign visitors would also be put in place under the new law. [Magharebia]
Western consultants helping Egypt compile an economic reform plan say it needs at least $60 billion of investment to reach average GDP growth of 5 percent by 2018 and another $60 billion to bolster its foreign reserves, senior officials said. The driving force behind the consulting project – had also sought advice on the economic reform plan from former PIMCO chief executive officer Mohamed El-Erian. [Reuters]
Morocco’s trade deficit rose 2.2 percent in the first half of 2014 from a year earlier to MAD 102.45 billion ($12.45 billion). However, the figure was well below an annual increase of 10.7 percent recorded for the first quarter of 2014. [Reuters]
Also of Interest:
Sisi – Egypt’s vision depends on free economy | SIS
BP to invest $10 billion in Egypt’s gas fields over next 5 years | Ahram
Egypt:  Fuel price raise to increase taxi fares by 3-10 percent—CAMPAS | Aswat Masriya
Jordan: ‘Labor protests drop by 49 percent in first six months of 2014’ | Jordan Times
Underfed and underfunded: Yemen food crisis persists | Reuters