Tunisia Economic Monitor, Spring 2021 : Navigating Out of the Crisis

Due to disruptions in international trade and tourism triggered by the COVID-19 (coronavirus) pandemic, the Tunisian economy contracted by unprecedented levels during 2020. Fortunately, recent data indicates that the economy stabilized during the f...

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Main Author:	World Bank
Format:	Report
Language:	English
Published:	World Bank, Washington, DC 2021
Subjects:	ECONOMIC GROWTH CORONAVIRUS COVID-19 PANDEMIC IMPACT HOUSEHOLD WELFARE EXTERNAL SECTOR FISCAL POLICY MONETARY POLICY ECONOMIC OUTLOOK RISKS DIGITAL ECONOMY DIGITAL TRANSITION DIGITAL TRANSFORMATION
Online Access:	http://documents.worldbank.org/curated/en/595241628797420098/Tunisia-Economic-Monitor-Navigating-Out-of-the-Crisis-Spring-2021 http://hdl.handle.net/10986/36123

id	okr-10986-36123
recordtype	oai_dc
spelling	okr-10986-361232021-08-17T05:11:05Z Tunisia Economic Monitor, Spring 2021 : Navigating Out of the Crisis World Bank ECONOMIC GROWTH CORONAVIRUS COVID-19 PANDEMIC IMPACT HOUSEHOLD WELFARE EXTERNAL SECTOR FISCAL POLICY MONETARY POLICY ECONOMIC OUTLOOK RISKS DIGITAL ECONOMY DIGITAL TRANSITION DIGITAL TRANSFORMATION Due to disruptions in international trade and tourism triggered by the COVID-19 (coronavirus) pandemic, the Tunisian economy contracted by unprecedented levels during 2020. Fortunately, recent data indicates that the economy stabilized during the first quarter of 2021, with quarter-over-quarter (q-o-q) growth no longer in negative territory. In comparison with regional peers, Tunisia experienced a sharper contraction than others, having entered the crisis while already experiencing slow growth, limited fiscal space, and rising debt levels. While the government managed the first phase of the pandemic well from a health standpoint, this early success waned as controls were relaxed later in 2020. A record 13.3 decline in the tradable services sector and a 11.7 percent drop in exports contributed towards the 8.8 percent economic contraction, as weak global demand depressed industrial and tourism exports throughout 2020. As a result, unemployment rose from 14.9 to 17.4 percent, contributing to the wave of protests breaking out around the country on the 10-year anniversary of the Arab Spring. Some of the recent gains made in poverty reduction will be lost because the share of the population vulnerable to falling into poverty increased during 2020 due to the impact of COVID-19 on the economy. 2021-08-16T14:31:10Z 2021-08-16T14:31:10Z 2021-06 Report http://documents.worldbank.org/curated/en/595241628797420098/Tunisia-Economic-Monitor-Navigating-Out-of-the-Crisis-Spring-2021 http://hdl.handle.net/10986/36123 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Economic Updates and Modeling Middle East and North Africa Tunisia
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	ECONOMIC GROWTH CORONAVIRUS COVID-19 PANDEMIC IMPACT HOUSEHOLD WELFARE EXTERNAL SECTOR FISCAL POLICY MONETARY POLICY ECONOMIC OUTLOOK RISKS DIGITAL ECONOMY DIGITAL TRANSITION DIGITAL TRANSFORMATION
spellingShingle	ECONOMIC GROWTH CORONAVIRUS COVID-19 PANDEMIC IMPACT HOUSEHOLD WELFARE EXTERNAL SECTOR FISCAL POLICY MONETARY POLICY ECONOMIC OUTLOOK RISKS DIGITAL ECONOMY DIGITAL TRANSITION DIGITAL TRANSFORMATION World Bank Tunisia Economic Monitor, Spring 2021 : Navigating Out of the Crisis
geographic_facet	Middle East and North Africa Tunisia
description	Due to disruptions in international trade and tourism triggered by the COVID-19 (coronavirus) pandemic, the Tunisian economy contracted by unprecedented levels during 2020. Fortunately, recent data indicates that the economy stabilized during the first quarter of 2021, with quarter-over-quarter (q-o-q) growth no longer in negative territory. In comparison with regional peers, Tunisia experienced a sharper contraction than others, having entered the crisis while already experiencing slow growth, limited fiscal space, and rising debt levels. While the government managed the first phase of the pandemic well from a health standpoint, this early success waned as controls were relaxed later in 2020. A record 13.3 decline in the tradable services sector and a 11.7 percent drop in exports contributed towards the 8.8 percent economic contraction, as weak global demand depressed industrial and tourism exports throughout 2020. As a result, unemployment rose from 14.9 to 17.4 percent, contributing to the wave of protests breaking out around the country on the 10-year anniversary of the Arab Spring. Some of the recent gains made in poverty reduction will be lost because the share of the population vulnerable to falling into poverty increased during 2020 due to the impact of COVID-19 on the economy.
format	Report
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Tunisia Economic Monitor, Spring 2021 : Navigating Out of the Crisis
title_short	Tunisia Economic Monitor, Spring 2021 : Navigating Out of the Crisis
title_full	Tunisia Economic Monitor, Spring 2021 : Navigating Out of the Crisis
title_fullStr	Tunisia Economic Monitor, Spring 2021 : Navigating Out of the Crisis
title_full_unstemmed	Tunisia Economic Monitor, Spring 2021 : Navigating Out of the Crisis
title_sort	tunisia economic monitor, spring 2021 : navigating out of the crisis
publisher	World Bank, Washington, DC
publishDate	2021
url	http://documents.worldbank.org/curated/en/595241628797420098/Tunisia-Economic-Monitor-Navigating-Out-of-the-Crisis-Spring-2021 http://hdl.handle.net/10986/36123
_version_	1764484515001008128

Tunisia Economic Monitor, Spring 2021 : Navigating Out of the Crisis

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