Tunisia’s foreign currency reserves reached approximately 27 billion dinars (about €8.25 billion) at the end of 2024, providing coverage for 121 days of imports, according to the data recently published by the Central Bank of Tunisia (BCT).
The recovery in Tunisia’s foreign currency reserves, at €8.25 billion, comes after a low observed on November 26, 2024, when reserves contracted to 24.846 billion dinars (about €7.59 billion) and equivalent to 112 days of imports.
This new momentum appears to mark a recovery in the country’s external position.
This level represents an increase of 663 million dinars (about €202.5 million) compared to the same period in 2023, and a jump of 1.5 billion dinars (about €458 million) since the end of last September.
In 2023, reserves stood at 26.4 billion dinars (about 8.07 billion euros), covering 119 days of imports, while as of September 30, 2024, they stood at 25.5 billion dinars (about 7.8 billion euros), corresponding to 114
days.
This improvement is attributed by analysts to the healthy performance of the tourism sector and the increase in remittances from Tunisians living abroad.
Tourism revenues thus reached 7.2 billion dinars (about 2.2 billion euros), up 7.8% year-on-year, while remittances from expatriates increased by 4.6% as of December 10, 2024.
This strengthening of foreign currency reserves provides a comfortable cushion for imports, a factor considered favourable for macroeconomic stability. Furthermore, a loan of 500 million dollars (about 1.58 billion dinars, or 483 million euros) granted by the African Export-Import Bank has helped to strengthen these reserves and support the financing of the 2024 budget, estimated at 28.188 billion dinars (about 8.62 billion euros), according to the Minister of Finance, Sihem Boughdiri Nemsia.
SL/Sf/ac/fss/gik/APA