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Thursday, April 25, 2024 0:48 GMT
On Sunday, the 2nd of February 2020, the President of Algeria, Abdel Majid Taboun said that his country would place a stark sum of US$150 million in the Tunisian Central bank as fiscal aid, remarking a lifeline for the grief-sickened Tunisian Central Bank which had been grappling with a current account deficit of as much as US$4.19 billion.In point of fact, Tunisia, the north African country historically dependent on oil, agri-food products, phosphate and tourism, had been facing off its worst economic downturns in decades, while the Tunisian Government debt had surged to 77.1% of the nation’s entire Nominal GDP as of December 31st, 2018.Meanwhile, addressing to Tunisia’s growing budget deficit and its inability to pay for the energies, the Algerian President Taboun said in a press conference on 2 February 2020 with the visiting Tunisian President beside him, “In light of the economic difficulties, we decided to put in the Tunisian Central Bank a deposit of US$150 million.We agreed to facilitate Tunisia to pay the gas and fuel bill as long as Tunisia faces difficulties in payment. ” It had been the Tunisian President Saeed’s first visit in Algeria since his October election.