Tunisia faces rising fiscal deficit in 2027 budget projections

Economist Moez Soussi reports that Tunisia's 2027 finance bill continues to face a growing fiscal deficit despite a reduction in the principal repayment of national debt. The deficit has increased by approximately 3.6 billion dinars, forcing the state to rely once again on borrowing.

Financing needs are projected to rise from 27,264 million dinars in 2026 to 28,122 million dinars. Soussi identifies intervention expenditures, primarily subsidies for essential goods and hydrocarbons, as a major driver of the worsening deficit.

The 2027 state budget is expected to reach 82.402 billion dinars, a 3.5% increase from 2026. While Soussi notes this growth is reasonable given an expected inflation rate of at least 5.5%, he warns that the increase will not neutralize inflationary effects, necessitating maximum rationalization of public spending. Additionally, the state's decision to borrow 9.8 billion dinars directly from the central bank remains a significant concern regarding the pressure to mobilize necessary funding.