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Tunisia is a partner country within the European Neighbourhood Policy (ENP). This country page contains, or links to, DG ECFIN’s recent analytical work on the economy of Tunisia.

Economic Analysis

Economic Dialogue

The EU held its last Macroeconomic Dialogue with Tunisian authorities in Brussels in March 2015. The Tunisian authorities discussed recent macroeconomic developments in their country and reviewed the state of play of key reforms and progress made under the IMF programme. The meeting also provided the opportunity to consider issues related to public finance management, price subsidy reform, tax reforms, bilateral cooperation, as well as progress under the MFA-I operation.

The next meeting will take place in Tunis in spring 2016 (to be confirmed).

Macro-Financial Assistance

The EU's macro-financial assistance (MFA) to Tunisia is part of a wider effort by the EU and other international donors to help Tunisia overcome the severe economic difficulties it has faced since its economic and political transition process began following the 2011 revolution. Terrorist attacks in 2015 worsened the situation further by affecting key economic sectors such as tourism and transport.

Upon Tunisia’s request and following an ex-ante evaluationpdf(265 kB) Choose translations of the previous link , the European Commission proposed in December 2013 up to EUR 250 million in macro-financial assistance (MFA) loans (read the proposalpdf(149 kB) Choose translations of the previous link ).  The aim of the MFA loans was to help Tunisia cover its external financing needs in 2014 and 2015, as well as encourage reforms aimed at improving the investment climate and fostering trade and regulatory convergence with the EU, thereby supporting the ultimate objective of creating the conditions for sustainable and inclusive economic growth.

The European Parliament and Council approved the MFA on 15 May 2014 and increased the amount to EUR 300 million (read the Decision here). The Loan Facility Agreement and Memorandum of Understandingpdf(336 kB) Choose translations of the previous link  were signed between July and September 2014, and ratified by the Tunisian Parliament in March 2015. The Commission approved the disbursement of the first tranche (EUR 100 million in loans) on 14 April 2015, and the disbursement of the second tranche (EUR 100 million in loans) on 16 November 2015. The final tranche is expected to be disbursed in the second quarter of 2016, subject to the agreed conditions being met.

On 12 February 2016, upon Tunisia's request and following an ex-ante evaluationpdf Choose translations of the previous link , the Commission proposed additional macro-financial assistancepdf Choose translations of the previous link  (MFA) to Tunisia of up to EUR 500 million in loans. Pending approval by the European Parliament and the Council, the MFA assistance is meant to complement a new comprehensive economic adjustment and reform programme between Tunisia and the International Monetary Fund (IMF), as a follow up to the Stand-by Arrangement approved by the IMF in June 2013. MFA disbursements under the new programme could start later in 2016.

The new MFA programme is intended to help cover Tunisia's external financing needs in 2016 and 2017, while supporting reform measures aimed at achieving a more sustainable balance of payments and budgetary situation, improving the investment climate, and fostering economic integration and regulatory convergence with the EU. The ultimate aim is to help Tunisia lay the conditions for sustainable, inclusive and employment-generating economic growth.

Press releases

Related EU Policies and Activities

The links below provide additional information on EU-Tunisia relations:

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