Tunisia announces measures to cut public sector wages to unlock IMF loan


The Tunisian government has proposed urgent measures to cut public sector wages in a bid to unlock an International Monetary Fund (IMF) loan, Tunis Afrique Presse reported.

The measures included limiting the percentage of promotions, freezing vacancies and re-employing available human resources, according to a government statement issued Monday on the preparation of the state budget for 2023.



Tunisia’s public sector wage expenditure reached a record high of 15.6 percent of GDP in 2022, up from 10 percent in 2010, leading to limited fiscal capacity for public investment, Xinhua news agency reported.

Tunisia is requesting a loan of 4 billion dollars from the IMF to avoid bankruptcy. To this end, the North African country is required to implement far-reaching reforms, including freezing wages, reducing energy and food subsidies and privatizing some public companies.

–IANS

int/khz/

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor

Comments are closed.