Prime Minister Hichem Mechichi briefed the G7 ambassadors and the EU ambassador to Tunisia about the economic recovery law passed by Parliament earlier this week.
He also presented the structural reforms the country plans to implement to overcome the economic crisis amid the ongoing coronavirus pandemic.
The ambassadors of the G7 countries supported Tunisia in obtaining a loan of 4 billion US dollars in addition to the talks with the donor countries as part of the ongoing negotiations with the IMF.
The ambassadors reaffirmed their readiness to support Tunisia’s efforts to improve the economy and encourage investment. They expressed their support for the country struggling with the pandemic amid its crippling economic crisis.
The Economic Rehabilitation Act will lower taxes for real estate investors and allow companies to resolve foreign exchange violations by paying due fees at an interest rate of 10 percent.
It will also reduce cash payments by charging a 5 percent fee, which helps transition to bank card transactions and online purchases.
Tunisia saw an increased debt burden and a shrinking economy of 8.8 percent in 2020 with a budget deficit of 11.4 percent of production. The gross domestic product (GDP) shrank by 3 percent in the first quarter of 2021 compared to the previous year.