Tunisia dinar nearing lowest level due to instability

The Tunisian currency stabilised yesterday near its lowest level in history against the US dollar due to tension between the government and the Tunisian General Labour Union and the trade deficit.

The dinar has fallen to three dinars per dollar.

Since the beginning of this year, the Tunisian General Labour Union has been calling for increasing the salaries of more than 650,000 public sector employees. On Monday, the Minister of Social Affairs Mohamed Trabelsi announced that an agreement had been signed with the union regarding the salary increases.

The union had threatened to strike on 20-21 February as a result of the failed talks with the government.

Tunisia has been suffering a trade deficit in recent years as a result of the slowdown in the growth of foreign investment and the rise of inflation.

According to official data released this month, Tunisia’s trade deficit in 2018 hit a record 19.04 billion dinars ($6.45 billion) compared to 15.59 billion dinars ($ 5.28 billion) in 2017.

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