Tunisia

Economy

Main article: Economy of Tunisia

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Tunisia has a diverse economy, with important agricultural, mining, energy, tourism, and manufacturing sectors. Governmental control of economic affairs while still heavy has gradually lessened over the past decade with increasing privatization, simplification of the tax structure, and a prudent approach to debt. Real growth averaged 5.0% in the 1990s, and inflation is slowing. Growth in tourism and increased trade have been key elements in this steady growth. Tunisia's association agreement with the European Union (EU) entered into force on March 1 1998, the first such accord between the EU and Mediterranean countries to be activated. Under the agreement Tunisia will gradually remove barriers to trade with the EU over the next decade. Broader privatization, further liberalization of the investment code to increase foreign investment, and improvements in government efficiency are among the challenges for the future. In 2008, Tunisia will be a completely associated member of the E.U. (comparable to the status of Norway or Iceland).

Related Topics:
European Union - March 1 - 1998 - 2008

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