Tunisia: Painful Recovery for the Business Sector
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As if the Jasmine Revolution was not enough in itself, the Tunisian economy is also suffering from a massive drop in trade with its troubled eastern neighbor of Libya. Government data suggests that during the recent disturbances, Tunisia lost in all between 5 to 8 billion dinars as a consequence of the inevitable crisis.
While tourism revenues were the most affected, major Investment projects were suspended and thousands of jobs vanished. Although the government estimates the loss at about 4% of GDP, we think it is a much bigger figure, which is currently driving the economic on the path to recession...
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