Tunisia offers $1.26bn projects to Arab funds
Tunis, April 8, 2014
Tunisia is offering infrastructure and development projects worth 1.99 billion dinars ($1.26 billion) to various Arab funds during an Arab ministers' summit in Tunis on Tuesday, a government official said.
"It is a projects package in many sectors which we will propose to different Arab funds for financing to stimulate our economy," said Noureddine Zekri, secretary for international cooperation.
The package includes an investment of 660 million dinars to build a 600-megawatt gas-fired power plant in Mornaguia, near the capital Tunis. The government is also planning to invest 758 million dinars in infrastructure and roads across the country, according to a government document seen by Reuters.
Three years after an uprising that inspired the "Arab Spring" revolutions, Tunisia is on its way to political stability with a new constitution and the promise of elections later this year.
The caretaker government, led by Prime Minister Mehdi Jomaa, hopes to boost economic growth to stave off any social pressures and protests for more opportunities and over high prices.
Tunisia's budget deficit is set to grow to 8 percent of gross domestic product this year, mostly due to public worker wage costs and subsidies which are a hangover from former Tunisian autocrat Zine El-Abidine Ben Ali ousted in 2011. - Reuters