Day: February 16, 2018

CPG and GCT can no longer take on new hires (Khaled Kaddour)

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Minister of Energy, Mines and Renewable Energy Khaled Kaddour said, Friday, during his visit to the governorate of Tozeur, with a ministerial delegation chaired by Prime Minister Youssef Chahed, the incapacity of the Gafsa Phosphates Company (CPG) and the Tunisian Chemical Group (GCT) to take on new recruitments, after those created in recent years, TAP reports. He stressed the need to reactivate environmental companies to play a positive economic role. Commenting on the situation of the CPG, after the cessation of production and its decline of more than 50% over…

New Tunisian central bank Governor promises ‘extraordinary measures’

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Former World Bank official and economics professor Marouane El Abassi was sworn in, on Friday, before President Beji Caid Essebsi after being approved by parliament as the new Tunisia’s Central Bank governor on Thursday, promising “extraordinary measures” to save the country’s economy. El Abbassi takes over the BCT at a crucial time when Tunsiia faces deep economic challenges, mainly the rising deficit and inflation and a fall in the Tunisian dinar value as well as high uneemployment. “I do not believe that there is a crisis that cannot be solved,” El…

Secret Russian arms shipment? Cargo ship with arms detained in Tunisia.

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According to Tunisian sources, military trucks, armored and military personnel armored vehicles were found on board, also 24 containers with ammunition, all military cargo said not to be properly documented, destination of shipment unclear. Ro-ro cargo ship under Russian name URAL but operated by Mersin-based Turkish company, was detained in Sfax port, Tunisia, for a thorough search and check, having on board, according to locals, cargo of arms and ammunition. The ship is en route from Novorossiysk Russia to Douala Cameroon, Tunisian sources said she interrupted voyage and called Sfax,…

Tunisia’s economy grew 1.9 % in 2017, 1 % in 2016

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The Tunisian economy has reached a growth rate of 1.9%, for the whole year 2017, the National Institute of Statistics (INS) announced. On a year-over-year basis, gross domestic product (GDP) grew 2.0% in the fourth quarter of 2017, over the same quarter of 2016, and 0.8% from the third quarter of 2017. Value added of the manufacturing industries leaped 1.4% in the fourth quarter of 2017 compared with the same period in 2016, but fell  2.4% compared to the third quarter of 2017. The INS said the positive progress of…