Day: March 5, 2024

Some 101 reports of water cuts were logged by the Tunisian Water Observatory in February 2024. Sfax took the lead with 18 reports, followed by by Nabeul (16), data published Tuesday by the observatory show. The observatory recorded 13 protests over difficutlites to access drinking water or water supply issues. These data were published following the announcement by Director General of Rural Engineering and Water Exploitation at the Ministry of Agriculture, Water Resources and Fiheries Abdelhamid Mnejja that 115 water projects had been completed with a further 92 in progress. Source: Agence Tunis Afrique Presse

The inflation rate decreased to 7.5% in February 2024, according to a press release issued by the National Institute of Statistics (INS) on Tuesday. The inflation rate continues its downward trend, going from 7.8% in January 2024 to 7.5%. This decline in inflation, despite the monthly increase, is attributed to the slowdown in the pace of price increases between February and January 2024 compared to the same period last year. Food prices up 10.2% Food prices rose by 10.2% year-on-year in February 2024. This rise was mainly due to a 35% increase in coffee powder prices, a 22.5% increase in sheepmeat prices, a 21.8% increase in edible oils, an 18.5% increase in condiments, a 15.2% rise in fresh vegetables prices, a 12.2% increase in beef prices and an 11.7% growth in fresh fish prices. Rise in manufactured goods and services' prices Over the year as a whole, prices of manufactured goods rose by 7.4%, driven by a 4.7% increase in the price of building materials, a 10% rise in the price of clothing and a 9. 7% increase in the price of household products. In services, prices rose by 5.4% year-on-year, mainly due to the 10.4% increase in prices for restaurants, cafés and hotels, the 13.8% rise in financial services and the 9.1% rise in health services. Core inflation stands at 7%. The core inflation rate (excluding food and energy) rose to 7% from 6.8% the previous month. Prices for free (unregulated) products went up by 8.4% year-on-year. Prices of regulated products rose by 4.4%. Free food products increased by 11.2%, compared with 3.6% for food products with regulated prices. In terms of contributions to inflation by sector, the "Manufactured goods" group and the "Services" group were the sectors that made the greatest contribution to overall inflation, at 2.8% and 1.9% respectively. By scheme, the contributions to inflation show that the 'Free Non-Food' group and the 'Free Food' group are the groups that have made the greatest contribution to inflation, at 3.8% and 2.7% respectively. On the other hand, the "regulated food" group made the smallest contribution at 0.1%. Consumer prices rise by 0.2% over one month In February 2024, consumer prices rose by 0.2%, following an increase of 0.6% in the previous month. This increase is mainly attributable to a 0.7% rise in food prices and a 5.2% rise in the price of health services. On the other hand, clothing prices fell by 4.5%, as a result of the winter sales. Food prices up 0.7% Over one month, food prices rose by 0.7%, following increases of 3.8% for sheepmeat, 1.6% for beef, 1.2% for edible oils, 0.9% for fresh vegetables and 0.9% for fish. By contrast, fresh fruit prices fell by 1.1% and poultry prices by 0.9%. Prices of health products and services increase 5.2% Prices in the Healthcare group rose by 5.2%, due to a 10.5% increase in the price of medicines and a 0.2% increase in the price of private ambulatory services. Clothing prices down 4.5 In February, clothing prices fell by 4.5%, due to the start of the winter sales season. Clothing prices w ere down by 4.8%, footwear by 4.7%, clothing accessories by 1.7% and fabrics by 0.9%. Source: Agence Tunis Afrique Presse

The market ended Tuesday's session on a gloomy note, sliding 0.5% to 8656.7 points, in a modest volume of TND 3.7 million, according to broker Tunisie Valeurs. SOTETEL shares took the lead; the shares of the specialist in telecommunications networks improved by 5.9% to TND 3.940, attracting trades worth TND 112,000. Assurances Maghrebia Vie were among the biggest winners of the session. The shares of the life insurance company increased by 3.2% to reach TND 5.830, mobilising a flow of TND 250,000. STAR stock suffered the biggest drop of the session. Without being subject of any transactions, the shares of the first insurance company in Tunisia fell 4.5% to TND 152.710. The UNIMED stock fell by 1.8% to TND 7.190. The shares boosted the market with a volume of TND 87,000 on the session. SAH LILAS was the flagship value of the session. The shares of the national champion of hygiene products showed a good performance in continuity with the last sessions (+0.4% to TND 8.590), supplying the market with capital of TND 1,200. Source: Agence Tunis Afrique Presse

Tunisia is taking part in the International Tourism Exchange in Berlin, Germany, (ITB), the world's biggest tourism event, ongoing from March 5 to 7. Tourism and Handicrafts Minister Mohamed Moez Belhassine inaugurated the Tunisian pavilion at the 55th edition of the fair on Tuesday, said a Ministry press release. The minister took note of the components of the Tunisian pavilion and engaged in discussions with various Tunisian professionals attending the exhibition. He emphasised the importance of these events in supporting Tunisian tourism and further promoting the Tunisian destination, especially as the fair draws over 5,500 exhibitors from 170 countries. The current edition of the ITB saw significant participation from Tunisian professionals in sectors including hospitality, travel agencies, sustainable tourism, aviation, as well as officials from destination management structures in Zaghouan, Mahdia, Djerba, and Tunis Carthage. Source: Agence Tunis Afrique Presse

Italy's newly appointed ambassador to Tunisia, Alessandro Prunas, underlined Rome's commitment to supporting Tunisia in developing the bilateral partnership and extending financial cooperation to the multilateral level, especially in view of Italy's presidency of the G7 summit in 2024. In a meeting on Tuesday with Finance Minister Sihem Boughdiri Nemsia, the diplomat reaffirmed the determination to strengthen coordination between the various stakeholders and speed up the implementation of several ongoing cooperation programmes. Minister Nemsia highlighted the "deep historical ties between Tunisia and Italy and the strong bonds of friendship and bilateral cooperation," according to a ministry statement. She also stressed the importance of continuing joint action to strengthen the partnership and develop economic cooperation, both bilaterally and multilaterally. Minister Nemsia noted that Tunisia has managed to withstand the successive crises that have marked the international economic and geopolitical land scape, despite their direct impact on public financial balances. She added that Tunisia has met its external financial commitments and is also working to boost growth, production factors and wealth creation. Source: Agence Tunis Afrique Presse