RESTRICTED Report No. EMA-8 - a I l_ This report Is for offidal use only by the Bank Group and specifically authorized organizations or persons. It may not be published, quoted or cited without Bank Group authorization. The Bank Group does not accept responsibiity for the accuracy or completeness ol the report. I I INTERNATIONAL BANK FOR RECONSTRUCTON AND DEVELOPMENT INTERNATIONAL DEVELOPMENT ASSOCIATION CURR ENT ECONOMIC POSITION A ?WTr T% - hf%CT-IM f' 'T'0 OF TUNISIA August 18, 1971 Europe, Middle East and North Africa Department CURRENCY EQUIVALENTS' 1 dinar = 1.905 U.S. dollars 1 U. S. dollar = 0. 525 dinar TABLE OF CONTENTS Page No.. MAP RAIC- nATA SLJMARY AND CONCSIONS .........N... ..... ,. I. ECONOMIC TRENDS AND DEVELOPMENT ISSUES . . ... Econor,,ic G-rowth . 1 Investment and Saving. 2 Demandn Mana -ement . .................. ................. 4 Balance of Payments. 5 ln AA 1 nnmAn flh1.-.n.-e-..4 e 4 AnC Develpet Opprtuitie-t}Ws ........................ 6 @*@**z*@@ T'T VPNXnVoxfTr 'DVNDT17J1ATAKTM R | E E XEs\}L/\w & x D .t\LM\eLv s }UL. L. L . . . . . . . . . . t. . . . . . . . . . . . Vconom,,ic POlann-ing .. . . . . . . . . . . . . . . . . Fiscal Policy .10 Trade, Price and Wage Policy .12 P)opulation, Tao Forc e and- E.l--., n _15 iT U LU L.LU. LaJCtU L X. IJI C GILU KdULjJ.LUyU1LLL . . ............. sTT h> A Tt%n l: I'h-T f r VIl 'FThL' "C' J-.LJ-. IJXJUI\ LLhJ[Ui~ ~JA~JAJI\.............................. 51. IutJvJ~a bU.iU Is nAV 1 A. AgrLculture .................................... 19 B. Industry .25 C.. Tourism ........ 32 D., Transport ......... ............................. 33 E., Education ......... ............................. 35 Iv. DFtVELOPMiENT PROSPECTS .39 Prospects for 1971 .39 Longer-term Prospects .41 External Debt .43 STATISI'CAL APPENDTX This report is based on the findings of a mission which visited Tunisia in March 1971. The mission consisted of Messrs. 0. Maiss (chief), B. Schnutz (general economist)- G. Sciolli (fiscal eronomist)- B.. Szabo (agricrlttiral economist), J. Casati (industrial economist), H. Thias (manpower specialist). Mr. I. Smith nrpnared the transnnrt chanter at headquarters. TU NISIA t ,pi F v i ,~ F i.R d~ A v AF A tVI5 r 7 X +,~~~~~~~~~~~~" " i ute 'UN vs ~~s_~~~ j/ ,^/// ~~~~~Te>b-b. .g [o A> / ~~~~bei.<: T,de, UNIgRAnio o0 20 30 _40 50 t/,/>, A~ L.?t (9 ! > X 8~~~~~~~~~~~~~~~Z Of HA M GAA} E I.Jl feon ~ /\ {}b , J S 9/).I5LA ,- X, X < |tl W GD£~~~~~60f Of GA8ES \ uage ! W -~~~~~~~~~~~~~~~~~~~~~~~~~1~/-N ur I / ~ ~ ~ ~ ~ Hr D,TNII lF1,11 oID i t A F R I C A 1 olr / } J 1 1 W 11 i l l i; c t ic 0 | \ l~~~~~~~1'. a 0 || SIINLS e t z9. 0 1'171 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~11M1t) 34(61 BASIC DATA Ar, e a 1i6,00 Alir kn ji _omet1er 63,380 square miles Population (mid-1970 estimate) 5.1 million Annua P),.at,o G-roP (196-19(fI70) :'. - - - -- IU I IUI L ~ IL UU, _L ~J . V VW V1i \ 2.7 2 7 I ' / * Fu lu i Density 31.0 per km2 Gross Domestic Product (1970) 1/ D.'65.1 million Per Capita (1970) 1/ US$ 211 iFuliual Rauue of Growth (l19605-190u) 2/ 0.6 percent per capita Induistrial Origin of GDP (1966 Prices) Annual Growth Percent Shares 1965-197((%) 2/ 1970 Agriculture -3.9 14.9 Mining, Water and Power 18.6 8.9 Manufacturing 5.1 15.3 Construction and Public Wborks 2.U 8.7 Transport and Communications 1.3 8.3 Services 2.7 25.5 Government WHages and Salaries 7.4 18.4 GDP at Factor Cost 3.4 1uu.( Indirect Taxes less Subsidies 4.1 17.1 GDP at Market Prices 3.5 117.1 Expenditure on GDP (Current Prices) Private Consuimption 3.9 63.8 Public Consuimption 10.6 19.9 Gross Investment 1.2 22.2 Exports of Goods and NFS 8.7 22.7 less: Imports of Goods and NFS 2.2 -28.6 Expenditure on GDP 5.9 100.0 Gross Domestic Savings 9.8 16.3 Resource Gap as % of Investment (1970) 26.8 Money, Credit anid Prices Annual Growth End-1970 1965-1970(%) (D. million) Money Supply 9.0 198.8 Time and Saving Deposits 11.7 56.o Bank Credit to Governlment, Net 2.9 91.1 Bank Credit to non-Government Sectors 12.5 271.6 Consumer Price Index (1962 = 100) 2.9 131.7 Wlholesale Price Index (1962 = 100) 3.1 1L8.0 General Government Operations Annual Growth 1970( 1965-1970 (%) (D. million) Current Revenue 9.8 196.1. Current Expenditure 11.2 173.8 Current Surplus 1.4 22.3 Gross Fixed Capital Formation -0.7 45.7 Other Canital Exnenditure 6.8 2L1.9 Overall Deficit 2.2 8. 3 Domestic Finanr.ing Net -22.0 3.0 Externa]. Financing, Net 6.6 45.3 Balance of Payments Exports of Goods and Services 10.2 171.4 Impnorts of Go(odsi ani Serv-i 4.2 229.M mrlrrien+ Ac-f-nit. Depf'iG-it._E -5n,. Net Public Capital 5O. 2 Net Private Capital 1-_ Change in Reserves -7.0 Net Foreign Assets (End-1970) -o.6 External Debt 1970 Public Debt outstanding at Year's End ($ million) 768.0 Debt Service Ratio (%) 22 IMF Position (US$ million) December 31, 1970 Quota 35.o D'ravings.E outstanding 19.5 B.rix,'Jl A_lK 13, ULIT1 I Umilo) [L±..LU11 Deember 31 , L7j. Bank loans (less cancelations) 70.1 Repayments 2.3 Total loans outstanding 07.U IDA credits (less cancellations) 40.o Total Bank/IDA LU*.O of which disbursed 44.4 undisbursed 063.1 1,' At; current factor cost and at the official rate of exchange. 211 1970 compared to 3-year averages centered on 1965 to remove the effect of exceptionally good weather on agricllture in 1965. SUMMARY AND CONCLUSIONS i. Tunisia has good development opportunities. Its agricultural potential is far from being fully utilized. It has a large labor surplus and its people are gifted, industrious and easily trained. The infrastruc-- ture is well established and there are promising markets at hlome and abroad for both agriculture and industrial products. Tunisia's proximity to Europe and its political tranquility make it an attractive place for potential foreign investors and for tourists. Large amounts of foreign aid are avail- able at concessional terms and prospects for further expansion of oil produc- tion have imDroved. ii. Nevertheless, during the second half of the 1960's despite the high rate of investment, growth has been slow, per capita consumption has declined and unemployment has remained high. With official foreignl aid being supplemented by commercial credits, the external debt burden has become heavy. iii. Development efforts gave particular emphasis to social progress and, as a result, the Tunisian society has changed considerablv since inde-- pendence in 1956. However, Tunisia experienced difficulties irn allocetiag efficiently its resources. In addition, the management of many of thie new-l1 established undertakings in the state-owned sector has been weak and the pri- vate sector has often been given little opportunity and support to develo;. Foreign investment was likewise affected first by natiortalization and later bly unclear regulations and administrative difficulties. iv. Government chanzes in the fall of 1969 led to a thorough reexanina- tion of past policies. A serious search for a more successfu'l set of economic policies Kqas initiated. culminating in the formulation of a new economic stra- tegy, presented by the Prime Minister last November. The principal objectives oF the new strategy are tn acceleratp growth of produetion. esneciallv in the agricultural sector, and of exports; to increase employment opportuni- ties: to onntain nponlation arowt--hA and to malntaan fintnefal s:t2hllitv in t'he economy. v. These objectives are to be achieved by reducing direct government involvement in economic decisions: decentralizing economic responsibilityv. encouraging private intiati'7e and entrepreneurship; relying more extecnsively on market forces to guide inve8tment and nroduction; Lncreasint wTublic sec- tor savings, and expanding family planning programs. The changeo iri *verall nolicv are to be supplemented bv anpronnrate revisions in seetor nolicies designed to increase the efficiency of agricultural and industrial produlc- tion unirts v- Sonme polircy ehan$es along ehese 1ines have nv-ready heen male dt-r1ng the past two years. Attempts to organize private farmers and tradeas int.o cooperatives were discontinued. The Scentralization of n-w,om.^ .!^efl iP one ministry was terminated by separating the planning, figeal and sotoral functions tn the course of a min.s-eria2. reorganiz.ation. Djor:¢stib r.4. regulations were relaxed and sct_zer liberalization :-f foreign tiag a t0;s place. A spec4al Co,MM4,S.Gs-- ' eablls¶J te ,. t e;e..omr. ad financial position of publi': e;utarrises, many ef whiji have cx-countcre(d s;erlous ULrficu±Ltie,. - ii - vii. Wnile some of these measures - especially the partial abandonment of cooperatives - have had a favorable impact on production and trade, further steps are necessary to carry out the structural reforms envisaged by the Gov- erinent. Institutional changes including a redefinition of the planning re- sponsibilities ot government agencies, enterprises and banks, will be needed to improve the efficiency of the economic system. Export incentives and more flexible exchange regulations are required in order to strengthen the foreign trade situation. In addition, sectoral policies need to be reappraised. viii. Tunisia's population is now growing at an annual rate of some 2.8 percent. The rate of population growth poses a number of serious economic problems. In the short-run, the large proportion of persons under 15 years means that providing nutrition, health care and education for this age group will absorb an increasing share of the countrv's resources. In addition, the question of how to create more employment opportunities looms large. Although statistical evidence is insufficient, tentative estimates indicate that the percentage of male unemployment has remained close to 14 percent of the labor force since 1968. ix. Tunisia's short-term economic prospects appear relatively favorable. According to the Government's annual economic budget, GDP at constant factor cost is expected to rise between 7 and 8 percent, a rate which could well be attained. The main increase will occur in the agricultural sector, where the heavy rains of 1969 have produced a very large olive crop. Depending on the outcome of other crops, especially cereals, total agricultural production could grow by some 13 to 16 percent. The increased agricultural output will have repercussions on the food processing industry which is the largest sub- sector in manufacturing. Together with increases in other branches manufac- turing production could thus rise by about 10 percent. Gains are also expec- ted in phosphate mining where the 1969 flood damages had been overcome last year, and expansion programs are continuing. In addition, output will be higher in the construction industry, due to the larger investment program, and in services, especiallv tourism and transport. x. Impressive as the growth rate may be, it will be exceeded by an even faster growth of demand. Investment outlavs are expected to reach D 172 million, or 18 percent more than in 1970. Most of the increase will be con- centrated in the public sector, especiallv in public enterprises, and will be spent for additional water supply, electric power, transport and tele- communication protects. Investment in other sectors remains at about the same level as last year. Public and private consumption wlhich was originally estimated to rise by less than 5 percent is now more likely to grow by some 10 percent, following the recent increase in wages and salaries. xi. To some extent, the present demand overhang will be absorbed by rising imnnrts, esnpciallv of canital goods and industrial raw materials and intermediate products. On the other hand, foreign exchange earnings are likely ton hp subhstantia11v higher in 1971 (+15-17 nercent) nreventing a further increase in the current account deficit of the balance of payments. As capital inflows are expected to grow, partly because many investment projects contain a substantial share of foreign financing, the gradual improvement in reserves is likely to continue. xii. The further outlook for the balance of payments hinges largely on the situation in the oil sector. After the 30 percent rise in oil prices this year, further increases in oil revenue depend mainly on the success of new explorations. AlthouRh there are signs that additional reserves could be tapped within the country or offshore, the timing and amount of such discoveries is still very uncertain. Other commodity exports are not likely to expand fast but tourism and worker's remittances will continue to providle increasing amounts of foreign exchange. Imnort demand can be expected to rise moderately, more or less in line with economic growth. xiii. Overall aid requirements till the mid-1970's will remain large. Barring major oil di4scveries, the current account deficit in the balance of payments will be at least of the same order as during the second half of thp 1960l¼ (1) 6iO million npr annum) and possibly even hilgher Only a minon part of the deficits should be financed through private capital, at least during the next two or three yars, and public capital will rema4n the manor source of foreign inflows. Allowing for amortization payments and a further moderateinc se prenop in rprve, orons aid requiiremPnts-c from bilatPral and multilateral public donors would thus average some D 50-60 million a year. A laroe nroeoi-t-on of t-his will -onntninue ton b-e, ,- n,,irldr] as nnn-nronct a-id= During recent years suclh assistance - mostly in the forn of food and other commodity aid - accounted for almost half of total publ-lc aid disbursements. A similar percentage may be required in the future since project aid is unlIkelyx ton rte Ifn the 14Ight of psct experience whI ca1 lls for more selectivity in the choice of eligible investment projects. xiv. Wit:h additional borrowing the external debt burden is likely to rise over the rnext few years. At the end of 1970, Tuni,4ia' s total mediu..- and long--term external public debt amounted to $768 milLion, of which $522 m11I4n ad1Tursed. Ser,r ce paments oQn publicdeb estimaeF d to havie been $62 million last year, or the equivalent of 19 percent of gross foreIgnl exchange earnings. Including private debts paents, the debt serv- ice ratio was about 22 percent in 1970. Although relatively high, the debt is n.ot b-etter structured, thanks to the self=restraint a xrce -- ily the Tunisian authorities over the last few years in the use of expensive suppliers' cred4its, an' -le fa-voralle conditions on which m,ost foreig,n aid 'as been 1L C &_ L iu LI1 It ~L) _U± 1U.LL4.LLJL -n IiA IU I L J~1~ LU LL i )CI made available to the country. Nevertheless, the burden is heavy and will remain so for years to comme. In this situation, A IILage[UCILL with very limited recourse to short- and medium-term private borrowing, will continue to be necessary. L LL L L.orts to strengthen the export sctLUL adU increasing amounts of direct foreign investments should in time lessen the country's dependence on, external assistance irom public sources. In the meantime, although there is some scope for conventional long-term borrowing, the extent to which Tunisia can borrow externally is liKely to continue to depend very much on the availability of aid on lenient terms. I - ECONOMIC TRENDS AND DEVELOPMIENT ISSUES 1. During the second half of the 1960's growth has been slow despite large investments; unemployment has remained high; nrivate per capita con- sumption has declined and with external loans on commercial terms being contracted to supplement official aid the extern.al debt burden has beenme heavy. Economic Growth 2. From 1965 through 1970, real GDP rose at an annual rate of about. 3.4 percent. t, / '.ore than one-third of the grwth was accourna.t for hy government wages and salaries, which expanded at an average of 7.4 percent: per annm, , wIt le the adued value of goods and non-government ser.ices grew at: a rate of only 2.5 percent. Of this the production of crude oil - for WhicI Little Uomestic development effort was required - contrbue_ d_ percent leaving an average growth of not more than 1.5 percent a year for II= LtLC…I.-LLIg sectors w,ich, in9 19d percent of G- . Agri - cultural production actually declined (4 percent a year) while manufacturing oUitput grewq at some 5 percent per anuuit aiu tourism bues'ides otl) e...erged as the most vigorously expanding sector. Table A: Economic Growth, 1964/66La 1970 Average Growth Growth Rate Attributable to (percent p.a.) (GDP - 100) 1. GDP 3.4 100 2. Governmient services 7.4 36 3. Other sectors (1-2) 2.5 64 4. Crude oii 66.5 27 5. Remaining sectors (3-4) 1.5 37 6. A;griculture -3.9 - 7. Manufacturing 5.1 22 8. Tourism 25.7 13 9. Others /b 1.7 24 7_7_ /_a Three year average. /b Mainlv commerce, construction, transport, other services, phosphates and power. 3. 'The growth performance has to be seen against the background of an average rate of nonutlation increase of ahout 2-8 narcent a year. This means that -- excluding government services and crude oil - per capita nroduection h28 declined by abomt 1-1/2 nprcent per year. At the qame time, unemplovment: has remained at an estimated level close to 14 percent of the male 1ahnr force. I/ JT; eTPrmirpOno t,f4,¢-t nEf -xrctiontally good weather on agricultural production. in 1965, the 1970 GDP is compared with the average product For 19'34/66. -2- Investment and Saving 4= The sluggish arnwth nf dnmestir nrndutitnn was nnt dtiu to any lack of investment effort. On the contrary, during the past decade the Govern- mpnt has taken eneroptir stpsn tn mobilize locln and fnraign resources for development. Gross fixed capital formation averaged 24 percent of GNP over the lat six years 5. Restraint on private - ni-mnsntinn mnd mam-sive fnreign rnnita1 inflows were the principal factors permitting Tunisia to maintain investment Mat 1such hiah levels. Nationnal Avinags :avernagd 11 nprrcnt nf GNP sInrc 1965 compared with only 9 percent during the preceding five years. Despite hi gh ,*i n.i gvrn,imant sao,4g were, 7V 1hoa.-wever,lt ing only 26 percent to the financing of government capital outlays. National savings wnere suppf1maented 1by large foreign capital transfe ars ,ad 10nnSP mostly from public sources which financed 45 percent of Tunisia's gross 4L,qsLC-J- d*-Urin _ 1 aKr C7n ivtenle B: 6 -0.vest C 3* L~LU.&L4-WIAL CLMU R .LkkLL2Lk.LL&r,, 17 V 1J I '.3 Milio 1 8- Percer.t ofp Dinar a GNP Gross fixed capital formation 805 24 o. -whsich Agriculture 156 5 Mi-ir.ng I Manufacturing 96 3 Tourism 75 2 Transport and power 138 4 Education Jo Others /b 184 5 Change in stocks 9 0 Financing of gross investment 814 24 National savings 453 13 Government 109 3 Public enterprises 180 5 Others 164 5 Net foreign capital 361 11 Public 265 8 Other Ir 96 3 /a Current prices h u-t-i..l housir.g co.nerce health and 1niat in Tc Includes changes in reserves -3- 6, CUUU.Lative gross fixed capital forimation durlng tIe 5iX years 1965-70 totalled D 805 million in current prices. Agriculture received th'e Larges.t share of totaLL inveStmLent, accounting Lfor aout 20' percent, whlile manufacturing and mining (including investment in crude oil development) each ,eceived about 12 percent. Close to 10 percent was investe 'in tourism during the period, while D 378 million, or almost half the total, were spent for economic infrastructure, including power and Lranspor.tation, social investment for health, education and welfare, and housing ar.i administrative buildings. In constant 1966 prices, gross rixed inves,ment totalled about D 650 million during the five years 1965-69, while growth in real output from 1964/66-1970 valued in constant prices was oniy D 77 million. 7. Investing resources productively has been a continuing problem for Tunisia as indicated by the unusually high aggregate incremental capital- output ratio of 8.4 (or 10.6 excluding the oil sector). This ratio reflects partly the magnitude of social investments which have no immediate impact on production; yet, these investments contributed to the transformation of the society and are therefore an important factor of long-term development. To a certain extent, this situation may alno be explained by natural factors. Severe droughts in 1966 and 1967 had an adverse effect on agricuitl-rr, on agricultural processing industries and on related income and activity through- out the economv. Similarly the disastrous floods of 1969 not only harned agriculture but caused serious damage te mining and transport facilities. However, many investments in agriculture, particularly in irrigation and soil conservation, are designed to compensate for variations in weather, and even when the agricultural sector is excluded from gross domestic pro-. duct, growth in output has been very low relative to the volume of invest- ment. 8. At the heart of the problem has been reliance on an investment policy hased on administrative decisions, rather than decisions taken in response to promising investment opportunities. In industry, substantial investments were made to establish public enterprises with insufficient knowledge of the extent of the market, the prices at wlhich products could be sold, or t:he costs at which they could be produced. Once the industries were established basic conflicts between achieving profitability and maintaining employment became apparent. In agriculture heavy public outlays in irrigation and farm infrastructure were made at excessive cost and with little immediate prospect that they could be effectively utilized. Con- currently, major investments were made in education and public infrastructure, having burdensome recurrent costs and not always promising long run returns. 9. Apart from tourism and petroleum exploration, there was little promotion of development of the private sector. Foreign investors were discouraged, first by large-scale nationalization and later by unclear regulations and administrative obstacles. The banking system played a secondary role in the allocation of investment, since most long-term funds were channelled directly through the government budget., and a proportion of the shorter term loans to enterprises received g.overnmert guarantees. - 4 - 10 Tn addition, the use nf P-wistna gcapacitv has been affected by pervasive and overlapping government controls and by scarcity of management and ski11ld lnhnr; there has hppn inqisffiripnt reliance on foreign managerial abilities. Attempts to control wages and prices, comprehensive import licens- ing, expnnrt auvthorizations ann fnre-Ign ec-hango restric-tinsc htave tended to dampen incentives, encourage overstocking and perpetuate inflexible regulatory procedures. Difficulties engendered by this system were augmentedr by ex- periments with different forms of economic organization, such as state- owned enterprises and the introduction of compulsory cooperatives in agri- culture and trade. Demand Management 11. While gains in real output were modest, aggregate demand grew at a fastoer pace, LeAd by a sub-stan.tial increase in -ublic -o-ut -io -ad Lo a lesser extent, in exports. Between 1965 and 1970, overall demand at current prices incr.L.easeU ML ani averi age LrLate of 5 peLrL.cntL a yarL . L UJ.L.LL. %UiULLZ5p .io._ rose at over 10 percent, and exports of goods and services at close to 9 per- cent. *^,,- the othLer IhLandU, pr'Lvate consuriiptiLon at current prlctes gre5LIW Vonliy slightly faster than real GDP, while investment expanded slowly. This re- fl'ecteA a Aeliberate effort on thLe ppart of the Governm.ent to contain effrec- 4. .C LU a UIZ±.LUCL a L I 1-l L L. i IIZ p L. L LIiIZ %.JUVV=LLL ZLL L. Li. L.L -aLL L LIZL tive demand and to prevent excessive pressure on resources. At the same t'Lmeo, however iL also ledU to a decline in real private per capLta coLsut9Uip- tion. Table C: Expenditure on GDP, 1965-1970 Increase 1965 1968 190/ 17/J/U 1968OO/7 (millions of dinars) /a (percent p.a.) Consumption 428 484 553 5.3 6.9 Private 349 372 422 3.9 6.5 Public 79 112 131 10.6 8.2 Investment 138 118 147 1.3 11.6 Exports 99 132 150 8.7 6.6 Total Demand 665 734 850 5.0 7.3 Real GDP - - - 3 5 2.9 /a Current prices. 12. Yet, with continued slow growth the Goer.n foun.d itinres ingly difficult to contain the demand pressure. During 1969 and 1970 the averaging 7.3 percent and 2.9 percent, respectively. Investment spending, WL.LciL laU Uha een contained untlJ. 19 I J68U(, rose particularly fast L11. percent a year) and the growth of private consumption also accelerated (6.5 percent). Public consumption continued to expand at a high rate (over 8 percent) while export demand slowed down. The substantial increase in investment reveals a growing Government concern about the need to stimulate economic activity and to provide employment for the rising population. These ob- jectives, however, came increasingly into conflict with the Government's aim to maintain financial stability in the economy. 13. As a result of the growing gap between demand and supply, imports rose rapidly and pressure was exerted on domestic prices. From 1968 to 1970, total imports of goods and services rose by 25 percent reflecting in part the rising investment activity. Domestic prices, on the other hand, increased rather slowly during most of the period. From 1965 to 1970 the average rate of increase in the price level implied by the GDP deflator was about 3.2 percent a year. However, in the course of 1970 and early in 1971 the price rise accelerated quickly and in February 1971 the cost of living index was 13 percent higher than in February 1970. To some extent, the recent rapid price increase can be interpreted as a delayed reaction to the demand overhang accumulated in earlier years which did not appear in the official price indices because of widespread price controls. With the relaxation of a number of these controls - especially on food items - in 1970 this excess demand led to adiustments in prices which now seem to reflect more truly the existing disparities between demand and supply. Balance of Payments 14. The large and persistent gap between total investment and national saving has been reflected in sizable deficits in the current account of t:he balance of payments. Over the last six years these deficits averaged D 60 million a year or about 11 nercent of GPT. Although strict controls were successful in restraining the growth of imports until 1968, particularly of nmaiumpr gonntd imnort dpmand nereSsari1v rponnnded to inderlyIng ecornomir conditions. Since 1963, imports of capital goods have risen under the imnpetii of hiahpr investment, while Imnorts of aririiltural commod tfes have increased due to poor harvests, and those of intermediate goods as a result oif industrial dpemnnd Consn-mer good 4mpnnrts rnntiniup tn be suppressed= 15. As economic growth has been concetrate n exrt sectors (o41 nd tourism), foreign exchange earnings have risen at a faster rate than real. GDP. Nevert hUeless, Tunisia's potenti aJ l for export hIas r.ot beer. fully -ealize Traditional agricultural and mineral exports have not contributed to the expanionv. an-. few nesw exprtsfro manufacturingS.. h.ave mater 4alied. More over, growth in tourism and petroleum has recently shown signs of slacking o.C -6- Table D: Summary Balance of Payments, 1965-1970 Increase 1965 1968 1970 1965-70 1968-70 (million of dinars) (percent p.a.) 1. Current receipts /a 106 146 171 10.0 8.3 2. Current payments /a 187 184 229 4.1 11.6 3. Current deficit (1-2)-81 -38 -58 - 6.5 23.5 4. Capital inflow, net 77 44 65 - 3.3 21.5 Public 46 38 51 2.1 15.8 Private 31 6 14 -11.3 52.8 5. Change in reserves (increase = -) 4 - 6 - 7 6. Debt service payments 18 34 37 7. Debt service ratio in 17 23 22 percent (6 over 1) /a Goods. services and transfers. 16. Even thouRh exports rose at a faster rate than imports, the fact that they started from a lower base prevented the current account deficit from being substantially reduced. The bulk of these deficits was financed through public and private loans, and foreign debt obligations rose rapidly reaching hizh levels in the late 1960's. At the end of 1970; the total amount of medium and long term external public debt was $768 million, of which $522 million was disbursed. Service navments on nublic and nrivate debt are estimated to have been $71 million in 1970, or the equivalent of 22 nprrpnt of grnos fnreign exchange earnings. This rnmnarrs with deht service payments of $33 million in 1965, and a debt service ratio of 17 p-ercent.t Developmen.t Oportun.ities 1 7 A1Al Altrog ui- th past Ofiv4 ar o mor *o- o tee ha oosbn on-oSidekale * S lJ.t.flLbLfle nLz J-rw --*Lb -4 ra.2&-L-V. progress in certain areas, notably the development of the tourist and petroleuuU sectors, higher r.ation.al savings and m..ore recer.tly a so,,ewhat stronger international financial position, overall economic performance ihas not been [ipL reiL LiLe Yet, thLie ugs paho C thLeeonUIUy ls not udue to lack of economic opportunities. It is true that the country is not iavishly endowed with easily accessible natural resources. Presently kno-wn oil reserves are relatively small and the large phosphate deposits are of limited economic value. However, Tunisia's agricultural potential is far from being fully utilized. The country has a large labor surplus and its people are gifted, industrious and can easily be trained. Its infrastruc- ture is well established and it has promising markets at home and abroad for both agricultural and industrial products. Its proximity to Europe and its political tranquility make it an attractive place for potential foreign investors and for tourists. With this combination of opportunities and factors and the availability of substantial foreign aid at concessional terms, the growth could be accelerated if suitable policies are implemented. - 8 - II. ECONOMIC REORIENTATION 18. Government changes in the fall of 1969 led to a thorough reexamina- tion of past policies. A serious searclh for a more successful set of economic policies was initiated, culminating in the formulation of a new economic stra- tegy, presented by the Prime Minister last November. The principal oblectives of the new strategy are to accelerate growth of production, especiallv in the agricultural sector, and of exports; to increase employment and con- tain population growth; and to maintain financial stability in the economy. 19. These objectives are to be achieved by reducing direct government inuoluement in economic decisions; decentralizing economic resnonsibility; encouraging private initiative and entrepreneurship: relying more extensively on market forces to gtuide investment and production; raising public sector savings; and expanding family planning programs. The changes in overall noliru are n tn he sunnlemented by revisions in sector nolicies designed to increase the efficiency of agricultural and industrial undertak,Lngs. 20. Some policy changes along these lines have already been made during the nast two years. Attempts to organize private farmers and traders into cooperatives were discontinued. The centralization of economic powers in one ministry was terminated by separating the nlanning, fiscal and sectoral functions in the course of a ministerial reorganization. Domestic trade egulaft4onc wereo relaed alnvnd som libpralizatinn nf foreign trnao took nlace A special commission was established to review the economic and financial position of public enterprises, many of whirh have encountered cerious difficulties. 21. While some of these measures - especially the abandonment of many cooperatives = hoave had a f.avorable impact on prod-cion a-d trade, others so far have been less effective and much remains to be done to carry out the structural reforms envisaged by the G-overnment ----. ---titution cha including a redefinition of the responsibilities of government agencies, enterprises andU bankLs, will be needed t-o improve the efliC4.ency of the economic system. Export incentives and more flexible exchange regulations are required inl order to strCengthenl f the foreign Lradle situation. In addition, sectoral policies need to be reappraised. Economic Planning 22. Tunisia's experience in national economic planning dates back to 1956 when the first Planning Office was established. A National Planning Council was set up in 1957 with the task of determining development priorities and policies. In 1961, a ten-year economic and social development program was approved by the Government for the decade 1962-71, which formed the basis for three subsequent medium-term operational plans covering the periods 1962-64, 1965-68 and 1969-72. Short-term adjustments were accommodated through annual economic budgets reflecting actual allocations in the yearly government budget. 23. The main objectives or past pianning errorts were tee Tunisifica- tion of the economy; the provision of equal opportunities for all citizens; an equitable distribution of income and wealth; the acceleration or invest- ment and production; and the achievement of self-sustained growth after 1972. While private initiative was expected to contribute to the development effort, the main responsibility for achieving these objectives was assigned to the public sector. Given the characteristics of the Tunisian economy in the early 1960's, major structural reforms had to be made in order to carry out the Government's development program. Large-scale purchase and nationali- zation of foreign property practically eliminated the substantial foreign control over key sectors such as agriculture, mining and trade, while government authorities extended their influence over the economy. Responsi- bility for investment was shifted to public entities and strong efforts were made to mobilize domestic and foreign resources for development. In the process, large public or mixed enterprises were created which now dominate the industrial sector and play an important role in agriculture and the service sectors. 24. Some of the planning objectives have been achieved in the course of the last ten years. Foreign control over Tunisian economic resources has become negligible; the very ambitious investment targets have been met; a broadly based school system provides the younger generation with equal opportunities for education; and the Tunisian society underwent substantial changes. On the other hand, production, employment, and savings have fallen behind the planned targets. Slow growth and insufficient savings created financial difficulties both in the public sector and in the balance of pay- ments, which in turn led to a strengthening of administrative controls over the economy. 25. Although improvements have been made over the years in planning procedures and the quality of staff responsible for the preparation and implementation of development programs, Tunisia's economic performance seems to call for reconsideration of present methods of planning and administrative controls. A revision of the goals and functions of economic planning appears also to be implied by the Government's new economic strategy which emphasizes the need for private initiative and freer play of marlcet forces, and which calls for decentralization and a reduction of direct government interference in economic decisions. 26. One step consistent with the Government's obJectives would be to give greater responsibility for investment decisions to enterprises and banks which will be guided by market opportunities and profit motivation.. The Government would then be able to concentrate on the evaluation and formulation of overall economic policy, and the planning of the public sector. 27. The actual appraisal of government sponsored programs and projects could be left to the Technical Ministries which rould also be made responsible for individual sector analysis. The Planning Ministry, on the other hand, sahould nrovide the macro-economic framework On whieh nvprall noircv deeisfions - 10 - of the Government are based, and should advise it on inter-sectoral priori- ties. It would also continue to coordinate the investment activities of the Technical Ministries and be responsible for the preparation of the total public sector program. 28. The planning and implementation of agricultural, industrial and most service sector projects would increasingly become the responsibility of enterprises, regardless of whetlher they are privately or publicly, domestic- ally or foreign owned. Government directions affecting current operations of state-owned enterprises would need to be drastically curtailed. Such a transfer of planning and management functions to enterprises would entail that these entities also assume the full rislc for their decisions. Fiscal Policy 29. Raising the level of government savings to ensure reasonable finan- cial stability in the economy has become a key objective of fiscal policy. Since the rate of taxation is already very high this will primarily require more efficiency in programming and controlling budgetary spending. In addi- tion, fiscal tools are expected to promote the growth of production and ex- ports. To some extent, these objectives are interdependent as it is difficult to mobilize additional savings in a sluggish economy while, on thie other hand, the growth of the country, especially that of its exports, depends partly on the existence of stable financial conditions. An acceleration of economic activity would therefore be one of the preconditions to achieve the fiscal objectives. 30. Government savings have been inadequate during the past, both in absolute terms and in relation to government investment. Since the mid-1960's savings have remained more or less stagnant while as a percentage of GDP they declined from about four to three percent. The relatively lowq level of government savings is particularly striking when one considers that Tunisia has not only one of the highest tax ratios among developing countries of comparable per capita income but also spends relatively little on defense. But the substantial effort in raising revenue has been more than offset by fast increasing current expenditure. As a result, government savings have accounted for little more than one fourth of total financing requirements for the Government's canital expenditures. Tahl P F,: cOVFRNMF.NT REVENuJE ANnD EXPENDTTIRE (as a percent of GDP) 1965 1966 1967 1968 1969 1970 1971 /1 Current revenue 24.7 27.4 26.9 25.4 29.2 29.7 29.2 Current expenditure 20.5 23.2 24.0 24.7 25.1 26.3 26.1 (Defense) (0.9) (0.9) (0.8) (1.3) (1.1) (1.5) (1.5) Government saving 4.2 4.2 2.9 0.7 4.1 3.4 3.1 Capital expenditure 12.9 12.9 12.1 12.4 12.2 10.7 10.4 /1 Based on revised budget projections as of May 1971. - 11 - 31. The disappointing savings performance is not necessarily a reflection of weak government policies. COn the contrary, the authorities have made efforts during recent years to raise additional taxes and to contain the rise of government spending. But in a slow growing economy there are definite limitations to increasing revenue while at the same time strong pressures exist to accommodate the social needs of a fast growing populaition through expanded government programs. Moreover, the hiigh level of investment has led to continuous demands for additional current expenditures to operate the newly created facilities. A solution to the government saving problem can therefore only be envisaged in a more dynamic economy which would provide the resources for faster growth of revenue, ancd which would permit a thorouglh scrutiny of government spending programs. 32. Although the growth of production and exports depends primarily on other factors, fiscal measures could encourage a more rapid economic expansion. Especially in the field of taxation incentives could be provided to stimulate the activity of farmers and entrepreneurs. The Government has already taken some steps in this direction and a tax commission, created in September 1970, lhas recently made a series of recommendations, one of which concerns the introduction of a value added tax. Such a tax would be a useful instrument to promote export industries as it could permit full reimbursement of all taxes paid by manufacturers of export products. But the administrative difficulties connected with the new tax and the problem of the rates at which it should be levied have suggested the need for a gradual reformn. Meanwhile, however, the Government has eliminated all export taxes uhich had increasingly impeded some of the country's exports, especially phosphates. In addition, taxes levied on the gross value of agricultural production have been reduced. These taxes, affecting cereals., wine and olives, will eventually give way to a tax on net income, but only after satisfactory accounting procedures have been established. :33., Besides giving tax incentives the Government can stimulate local production through its expenditure policy. For example, extension services in agriculture or infrastructure programs for tourist areas where the need for adequate sewer and water systems is quite urgent. 34.. However, the benefits to be derived from government expenditures need careful assessment in the light of their costs. In some areas where public spending has expanded rapidly during the past, such scrutiny has not always been applied. Examples are education and subsidies to public enterprises, which together presently account for some 35 percent of total government spending and provide considerable scope for pruning. 35.. The Government has been concerned for some time about the high level of subs:Ldies to public enterprises, and serious thought is now being given to the idea of diminishing direct budgetary support for some of these enterprises, by directing them towards the banking system for their financial requirements. Prerequisites to this program include a complete reorganization of the enterprises, including the reconstruction of their own capital, the training of well-qualified managers and a clear restate- ment of their investment policy. Any premature action would simDlv have the effect of forcing the banks to call on the Government to obtain re- finnnranci fnr the. lnans aiven to the enteprnises - 12 - Banking Policy 316 T1rinc the nast; Tunisian banks have nlaved a larcelv secondary role channelling medium- and long-term government funds to the end users of rerdit withonit establishing the creditvrorthiness of notepninl borrowers or assuming the risk for the lending operations. Even short- and medium- term credits extended from the banks' own resources havp often carripd a guarantee from the Government, which in turn determined the use of such fiinds Some of these loans were spent to rover investment reqtuirements of state-owned enterprises. 37. The centralization of most investment decisions at the government level restricteA thp initintive left to the banks which to a large extent became executing agencies carrying out government orders. This situation also affepted tlh bsicinoc structure of the hbnks. As many investments initiated by the administration did not yield adequate returns the creditors were often u able to repayn tho lnonc thus reduIng the 14nlI 4tdtr of the banks. In particular the Banque Nationale de Tunisie, which is the second largest com- mercial bank in Tunisia and specialized in agricultural lendin, has suffered severely from bad debts. 38. The recent move towards a more decentralized economic system, ..w4 t1se nongov,ernm.en s ctosrs play4 nn -1 rnrf. rI-t 4- ts-a nr.nnnlm- implies that banks also assume more responsibility in appraising the creditwort"hin.ess ofl th-eir custo..ers, and reviewing t1he pro4eCtS to be financed. By the same token, arrangements would need to be made to providL'e th'e bank's with add iL LtiLo n a ILunAs wi. 1cV. would 1 enab-le th1em lo UV.L~ L1~ ~iLN WiLii~UU.LL LJLaJ. L ULtL Witt LL.L W JU.Li i aLu. LIitL L.J broaden the scope of their lending activities. In addition, the banks would hlave to seek. tiore UdeposiLts L'rUo I LL i U-J.L ..39. Arlot'ner consequence of a Uore i.ndependently operating credit system would be that the indirect controls of the central bank over the business operations of commercial banks be strengthened. Although the basic tools of credit policy are available - such as changes in the discount rate, rediscount ceilings and minimum reserve requirements - the central bank has primarily relied on quantitative and direct controls. 40. At the same time, control of interest rates would need to be relaxed. Tne present interest ceilings ranging from 3-4% ror iong-term loans out of government sources to 7-8% for short- and medium-term credits from the banks' own resources, should be reviewed in the light of actual demand and supply of loanable funds. With the increasing market orienta- tion of the economy interest rates should assume their proper function as the price for loan capital, fluctuating more or less freely to facilitate the optimum allocation of available funds and to attract savings from the public. The government now intends to raise interest rates on depo- sits, including the deposits in convertible dinars by Tunisians working abroad. Trade, Price and Wage Policy 41. Before the government changes in 1969, trade regulations sought to reduce the number of intermediaries in commerce, setting minimum norms - 13 - for capital and turnover per ufnit. Large 5eCLiOLIn Lc, Lthe WLtV.Lesa1.Le arLLU retail trade were regrouped under cooperatives and distribution companies, and public or quasi-pubiic enterprises were given a aominant role in foreign trade. In 1970, these regulations were considerably relaxed. Most cooperatives and trading groups were dissolved and t:here has been a renewal of private interest and investment in trade. Only a few govern- ment monopolies were maintained, such as the Tunisian Office of Commerce for the import of bulk consumer goods: the Oil Marketing Board for the export of olive oil; and the Cereals Marketing Boarci for the import and export of cereals. 42. The relaxation of trade regulations was accompanied by some liberalization in price controls, especially for agricultural products. Nevertheless, recent legislation issued in May 1970 confirmed the existing system of rather comprehensive price controls. Prices for basic food- stuffs continue to be set by the authorities while prices for most manu- factured products need government approval, which usually is given on a cost plus profit basis (homologation). This together with full protec- tion from foreign competition and an investment pol:Lcy preventing the establishment of "excess capacities" guarantees local producers comfortable monopoly pmositions in the domestic market. Some consumer goods such as shoes, clothes and a number of household articles are, however, excepted from these controls and enterprises can set their oun production, but not necessarily distribution prices. The Government has to be notified about these prices and may intervene if it deems it necessary (controlled price freedom). Only handicraft and a number of agricultural commodities are not sub ject to any price control. 43. Domestic price regulations are supplemented by strict import controls. All imports are licensed. Global quotas are fixed annually for the imports of bulk consumer goods and bilateral quotas are agreed with the EEC, most other European countries and countries with payment agreementS;. Recently, the Government introduced annual licencing procedures for imports by industrial enterprises, particularly those producing for export, and by agencies importing industrial rawq materials and intermediate products. 44. Existing price and trade regulations are incompatible with government aspirations for increased efficiency, a freer play of market: forces, and growing export orientation. These regulations prevent com-- petitive pressure to reduce local production costs and leave little incen- tive to export. Exports have been further impeded by cumbersome foreign exchange declaration procedures which often caused delays in the approval of actual shipments. There has been some acceleration in the issue of im- port licenses as the balance of payments position improved. However, until recently, delays in issuing licences still caused difficulties for many enterprises to obtain raw materials, intermediate products and spare parts, and resulted in both overstocking and interruption in production. 45. To achieve the economic objectives of the Government. these controls will have to be reduced and foreign markets made more attractive to local producers. Restricting investment is harmful as it prevents modernization of obsolete installations, and limits capacities to the - 14 - size of domestic markets. Greater com.peition would only improve the efficiency of local producers and force them to search for markets abroad. 46. Little attention has been given until now to active export promotion. Several Institutions* dealing with thisb subject -r 4 minly collecting information on foreign markets, but their activities are in- sufficiently coordinated and skills and finances are dispersed. The Government has received technical assistance from the GATT-UNCTAD Inter- national TIraAe Center anA has r.ow -deci1-ed' to create a center Ifor export ,,aL AJLO~L ± atC ~CLLCL aLu Ala -S4 UC XUU t.) LA a C .L'L LL .IL Cl L. promotion. This center will essentially gather and disseminate informa- Ltio,n I'LoJWeV CL ou* LUUIl a1LsoJ pUrlol LC CAexJpr *-U1 eCLLtU '[IlUUs Ltr 1L.aL t UJ CoL Lbc advise enterprises on production problems and coordinate the demand and suppjLy of LtransportatiLon. Close coorULnatLoL andU cooperatio wi the Direction of Commerce, the Federation of Exporters, the Tunisian Office of Co,,Umerce, th'Le Center fLor ntIndustraial ' tudu ies andt th'Le InLstitute OL L Productivity and for the r-tanagement of Enterprises will be essential. r UtL'Ler LteLIciLcdl dassLdlls c 'Ls liKtely Lt Ut: LneedUe "I. 47.~~ VIn -- Marh h yar the Go-verrannent raiLsed' th'e proportlon of foreign exchange receipts which may be retained by exporters from 2 per- cenL. to LU percent iLor paUyllents witL[iA J30 days, and I I -ro -1-- LU- - 4 percent for longer payment periods. The previous D 1,000 annual ceiling was abuandoned. xveLi thoug-h mUoLre genLerou s ;'nLa iL' the past , these regula- tions will give little incentive to increase exports. Larger retention quotas may, however, become a powerful stimulus LO sell domestic products abroad. At the same time, additional import liberalization measures, especially for crucial foreign inputs sucn as spare parts, couid substan- tially improve the allocation of scarce resources without creating an excessive drain on the balance of payments. 48. In 1969, Tunisia entered an association agreement with the EEC. This agreement is for five years and compensates Tunisia for the discontinuation of trade preferences with France. About 90 percent of Tunisia's industrial exports to the EEC received duty-free entry in the Community and about halt the agricultural exports, mainly olive oil, citrus fruits and certain processed foods, were granted tariff rebates of up to 40 percent. Tunisia, on the other hand, gave tariff reductions to EEC countries ranging from 20 to 30 percent. Preferential trade with France in commodities not included in the agreement is maintained. Nego- tiations on broadening the association to include financial and technical assistance are envisaged but have not yet started. At the same time, Tunisia has strengthened its political and commercial ties with neighboring Arab countries. 49. Wages and salaries are strongly influenced by the Government which sets minimum wages for most unskilled and semiskilled workers employed by public and private enterprises. Actual wages paid by the enterprises have remained close to the legal minima for unqualified labor, but have risen above such guidelines for higher qualifications. - 15 - 50. During the 1960's, the average level of wages and salaries remained relatively stable. Moderate increases were granted from time to time for- different groups of employees., tne last one in IY/U for teachers and some other civil servants. However, the recent fast rise in the cost of living forced the Government to adjust: personal incomes to the rising level of prices. Accordingly, in May 11971, average salaries for civil servants were raised by about 5 percent, and minimum wages for workers in public and private enterprises by about 20 percent. All together, salary incomes are expected to rise by about 8 percent (on an annual basis). Population Labor Force and Employment 51. Tunisia's population has increased from 1.9 million in 1926, when the first census was taken, to 4.5 million in the 1966 census. The between-census population growth rates have risen from less than 2 per- cent p.a. for the period 1923-36 to 2.3 percent during the decade 1956-66. The National Demographic Survey of 1969 yielded a crude birth rate of 43,2/1,000 and a crude death rate of 15.6/1,000 resulting in an (unadjusted) population growth rate of 2.8 percent: p.a. On the basis of these figures, Tunisia's population at the beginning of 1971 would have been about 5.2 million (Table l.1 Statistical Appendix). 52. Tle acceleration of population growth poses a number of economic problems. In the short run, the large share of persons under 15 years - some 46 percent of the total population as compared to half that figure for the industrialized countries of Western Europe - means that providing nutrition, health care and education f-or this age group will absorb an increasing share of the country's resources. In addition, the question of how to provide sufficient jobs also arises. Although statistical evidence is scanty and not very reliable, tentative estimates indicate that total employment has increased slowly over the last three years and t:hat the percentage of male unemploynent has remained close to 14 percent of the male labor force. 53. The Government has been aware of these problems for a long time. As early as 1961 the sale of contraceptives was legalized. In 1964 a pilot project, the first of its kind in Africa, was launched which. in 1966, developed into a nationwide family pLanning program. The fixing of the minimum marriage age for males and females (at 19 and 17 years, respectively) in 1964, and the legalization of steriliza- tion and abortions for women with more than four living children in 1965, constitutecl other important measures. In January 1968. a family Dlanning unit was set up in the Ministry of Health. 54. Foreign aid in this field has been considerable, major con- tributors heine US AID_ the Swedish Aid Aeenev the Ford Fotinfintlon and the Dutch Government, with a total amount of foreign aid for family nlanning as well aq maternal and child hp.alfth cr during the period 1963-71 in excess of $4 million. The most recent development is a Bank/IDA proJert totalling q7.7 million for the ronntrzirtion of four large u,rba,n maternity hospitals, two small rural maternity centers and 29 maternal - 16 - and child health centers, as well as the extension of the country's major para-medical training school, combined with some technical assis- tance items for planning and teaching and for the training abroad of Tunisian para-medical personnel. 55. While Tunisian vital statistics contain wide margins of error, due to an under-enumeration of females as well as to incomplete coverage of births and deaths, indications from incomplete and not strictly representative data are that the birth rate is at present in the range of 40-41/1,000 and the death rate somewhat below 15/1,000 which means a population growth rate slightly below the above-mentioned 2.8 percent per annum. 56. The explanation for this apparent slowdown of population growth (which so far has neither been sustained over several years nor confirmed for the whole country) may be sought in a variety of factors, some of which are autonomous and other government-induced. Among the first group is the increasing degree of urbanization of the countrv's popula- tion (rising from a share of 30 percent living in towns of 2,000 and more inhabitants in 1946 to 40 percent in 1966), a higher average mar- riage age for both males and females and, to a lesser extent, the emigra- tion of increasing numbers of young Tunisians. 57. Of the government-induced factors, some relate to the country's policy of female emancipation rather than family planning, such as the enrollment of large number of girls in primary and secondary education and the abolition of polygamy--the fertility effect of which remains disputed. The bulk, however, results from a direct concern for the problems of Tunisia's population growth. 58. It may still be too early to assess the effects of the Tunisian family planning policies. However, a recent study has tentatively estimated that about one-third of the apparent reduction of births since the inception of the family planning program may be attributable to it. 59. In the absence of new comprehensive population data, there is no firm basis for nonulation proiections even for the near future. The seven alternative projections presently available (four by the International Dnmogr2phir Staft1isi Cpntprj U.S. Rtirpau of the Cenguls and three by the Tunisian Ministry of Planning), differ mainly in their assum-tion1s ahout the duevelnopment of the fprtilitv ratpe and this rPesi1ts in a considerable divergence of population growth rates (Table 1.2 Staoti tca4,o Appn-44Y rln t-ho h:actc nf tho mnet Yoe-at nt MuAi:nhl a v*Sy L.S J.rr- *.… evidence, there is some hope that the rate of increase in the population Anl4....n14gl,+-.k41 a.aFk a- Fan --,a.r TlanaA4ne- a, l^- a,rr miay decli.e s.LLgt._l over the ext e-h .e D of the family planning program and on the country's general socio- econouluLc Udevelopr,ent, at-, even 'lower rat[e ofJJ 4ncrease may zrlse .in S.the 1980's with a resultant 1986 population lying between 7.3 and 7.8 mil- lion and a growtih rate of about 2.3 percent a year. 60. Even with an active and expanding family plann'ng program, population growth will therefore continue to pose economic problems, - 17 - both with respect to supplying essential goods and services for sub- sistence as well as creating sufficient employment opportunities. In 1970, the active age group (15-64 years) comprised 1.3 million males and females each. Since female employment outside agriculture amounts to less than 10 percent of the total, the following analysis is limited to the male labor force. 61. Of the 1.310 million males aged 15-64 years in 1970, 210,000 were thought to be removed from the domestic labor force through illness or invalidity, emigration or enrollment in the various education and training schemes (Table 1.3 Statistical Appendix). Of the remaining 1,100 million about 500,000 were employed in the primary sector (agri- culture, fisheries, mining), 200,000 in the secondary sector (manufac- turing, construction, energy), and 300,000 in the tert:iary sector (transport, commerce, tourism, public administration and other services), leaving some 100,000 unemployed. However, there is a strong seasonal employment component, mainly in agriculture, amounting to some 250,000 to 280,000 males out of a total male employment of one million. While there are no data that would permit to assess the full employment equiva- lents of these latter figures, an employment co-efficLent of 0.75 (which would appear an ontimistic estimate) would yield a total full employment of 910,000 to 925,000, hence an apparent unemployment of 175,000 to 190,000, depending on the assumptions about the ratio of continuous and seasonal employment in agriculture. 62. The Government has been concerned with unemployment for quite some time. Anart from the education nolicvy which has the side effect of delaying entry into the labor market, it has tried to combat unemploy-- ment throtuh n two-pronged noliev! nn the one hand, it has orrannizd an extensive and diversified employment program, amounting to 24.6 million man-days (an equivalent of about 80,000 man-years) in 1970 and absorbing D 7.85 million (plus payments in kind worth another D 3.64 million); the total cost is thus of the order of $1 per man-day. This program co.m- prises activities such as soil conservation, irrigation, reforestation, 8il1aPge hi1dino of honpntrAT and eommunity centers, and handairaftse and is organized both on a national and regional scale. Since its aim i8 to snrend paynments over as many unpmployed as possible, the periods oF employment show large regional variations averaging slightly under 15 days per mo.th; by the same toker., outpu a productivity notions are still alien to these schemes. 653. The second area on which the Government has focused its -IntersotF 4i am4 emigr a4t on The mhAment Of Tnn4 e 4 onn w.orkrsa ton fnra4 fn countries has increased from about 6,000 per year prior to 1969 to an official figure of 13,800 in 1970. Howeve nh i suggest a considerable under-reporting (11,000 Tunisian immigrants versus 'P..a 4 -4 -- T i f of 7 n00 ). Tf this obsen-ration would also 1 . A.- for Germany (which together with France accounted for over 93 percent of LLth '971 U t.LiS onU), thLe total W-UdLU Ub n te Lr.eihUUoLrUUU V. o 2,0U. AI still higher figure may be projected for 1971 on the basis of emigration uur'Lng th'Le Lrst half of thle year. Miost of tie eigrants Iilnud elJiplo-yment in the building and metal industries (45 and 40 percent, respectively), and skilled workers are in a majority (55 percent). - 18 - 64. Tne Government has explicitly recognized the importance (if only as a temporary expedient) of emigration as an outlet for the labor market pressure. Apart from training activities, which could become more closely geared to foreign manpower demands, it is now intended to provide a system of information that would enable specific requests from abroad to be matched more quickly with available skills. 65. The employment outlook for the coming years does not show any improvement. By 1976, the number of males 15-64 years old will have risen to 1.59 million. Assuming a slightly higher number of disabled persons (27,000) than in 1970, a total of 180,000 workers abroad (which seems to be the maximum attainable over such a short period), and a male school population of 180,000, the domestic labor force would increase to 1.2 mil- lion. Table F - Male Labor Force and Employment, 1970 and 1976 (in 1,000's) 1970 1976 Age group 15-64 years 1,310 1,587 of which disabled 25 27 in schools 121 180 emigrants 64 180 Domestic labor force 1,100 1,200 Employment 920 980 of which in agriculture /a 420 420 outside agriculture /a 500 560 Residual unemployment /b 180 220 /a Estimates of full employment equivalents. /b Including on account of underemployment. 66. Employment in agriculture (full employment equivalents) is not expected to grow., the anticipated incre2e in output, being achieved through improved productivity. Increased employment ouside agriculture is assumed to be about 60,000. This would m.ean a residal ,w.eemployment of about 220,000 males, i.e., more than at present. To absorb this group full-time in public work sch..es simiar to the ones carried out now Tr.ould re-uire an annual budget of over D 30 million ($60 million). - 19 - III. MAJOR ECONOMIC SECTORS A. Agriculture 67. Past Performance. Although gradually declining in importance, agriculture is still the dominant activity in the Tunisian economy. In 1970, it provided nearly half the country's employment, accounted for one-fourth of merchandise exports, and contributed 15 percent to GDP. Based mainly on extensive cereals and livestock production, supplemented by fruits and vegetables, its overall productivity is rather low (about $400 a year per male farm worker) even though substantial differences exist between the modern and traditional sectors. 68. Production trends are difficult to establish because of large year-to-year fluctuations. But it appears that over the last decade total atgricultural output has not significantly increased. A growth of about one-fourth between the early and mid-1960's was Just about offset by a similar decrease during the second half of the decade. Only vegetables showed a clear upward trend, due probablv to the growinR area under i.rrigation. Meat production also increased; but this may be explained partly by over-slaughtering during the period of forced collectivization. Cereals remained more or less stable while fruit production - mainly olives and wine - declined. Table G: Key Agricultural Indicators Annual Average 1960/62 1964/66 1968/70 1 Total Productiton /a 73-4 91 A 79-9 of which: Cereals 21.2 26.3 22.3 Meat 17.4 22.8 25.0 Fruits 27.2 32.7 21.6 Vegetables 6.6 8.5 9.4 2= Production, ner canita /b 1R83 720-7 16.1 3, Foreign T,rade /co Agricultural Exports 30.0 34.1 26.8 AgrI cul tr1al Imports c..t 01 2. 3 Net Exports 8.7 11.8 - Net Imports - 6.8 /A Added value in million Dinars at 1966 prices. /b Added value in Dinars at 1966 prices. /c In million Dinars at current prices. - 20 - 69. Tne stagnation of agricultural output coincided with a period of accelerated population growth. The rising gap between domestic produc- tion and consumption led to a decline in agricultural exports and a rapid increase of food imports. As a result of these divergent trends, which were especially marked during the second half of the decade, Tunisia changed from a net exporter to a net importer of agricultural commodities. 70. Over the last ten years, more than D 200 million - or three times the recent annual value of production - was invested in the agri- cultural sector (Table 7.5 Statistical Appendix). Even though the bulk of these investments was spent for projects with long gestation periods such as soil conservation, tree planting and irrigation works, it is surprising howT little visible effect they had on agricultural produc- tion. Yet, the existence of some D 200 million in new agricultural infra- structure means that opportunities exist for more rapid growth in the future, and that returns to expenditure aimed at improving the utiliza- tion of installed capacity could be substantial. 71. At the same time there are indications that over the next ten years domestic and foreign markets could absorb almost twice the present annual production of about D 80 million. Since 1960, domestic consump- tion of agricultural commodities rose by about one-third, largely because of population growth but also because of rising tourist demand. By 1930, Tunisia's population will be around 6.7 million, or about 70 percent higher than in 1960. This together with rising nutritional standards and new tourist demand would raise domestic consumption to some D 110 to D 120 million at constant prices, i.e., an increase of about 80 percent over 1960. MIoreover, in view of market opportunities in Europe and neighboring African countries, particularly Libya, agricultural exports could also be significantly increased. 72. Production Factors and Constraints. There is little doubt that Tunisia has the physical potential to double agricultural output within the 1970's. Although the natural conditions are not particularly favorable, with proper management they are adequate to provide sufficient production to cover the country's food requirements and create a sizeable export surplus. Soils are of variable quality wlhile the climate ranges from temperate MIediterranean condItions in the north to arid zones in the south, where oasis cultivation is practised, making a wide diversity of products noslible. Average annual rainfall declines from over 1000 millimeters .L the northwestern coastal areas to less than 200 millimeters in the south. Difficulties arise from the large year-to-year variations caused to a certain extent by the eroded state of the mountains which, if forpetped, rciiuld exerrise a naturally equilibrating effect on rainfall. But in many areas precipitation can be supplemented by irrigation, either from. river flow or underground sources- 73. Of the country's total area of about 16 million hectares, some 9 million are potentially productive (Table 7.6 of Statistical Appendix. vorests and mostly extensive pnatfrsa (5. millo41 n) aor ntr for the larger part of it. Of the remainder, 1.3 million hectares are covered with fruit trees. About 2 million hectares are under some form - 21 - of crop rotation involving cereals, while over 200,000 hectares are at present estimated to be irrigable. 74. In order to utilize its agricultural potential, Tunisia needs to overcome existing constraints on production, resulting mainly from lack of experience and training, inadequate organization and shortage of modern equipment and inputs. Despite recent trends towards urbanization there is no shortage of labor in rural areas. But the labor force is limited in qualification and experience. Except for the long-standing cultivation of citrus, olives and dates in the coastal areas, until very recently, the traditional occupation of the majority of the Tunisians on the land was, nomadic sheep and cattle raising. 75. Efforts to improve the land tenure situation need to be intensi- fied. Of the 9 million hectares of useable land, about 3.8 million are forests and community owned pastures, some 4.5 million are classified as private farms and 0.7 million are public. A law of 1964 made title search and land registration obligatory. Almost half of the privately owned 4.5 million hectares is now covered by proper legal titles and a part of the remainder is covered by notarial titles which permit transactions. On com- munity owned lands the Government gives titles to those actually working the land, an(i on land not cultivated by individuals it encourages the trans- formation of the old ownership system into modern land holding groups to whom titles are issued when the groups have been duly constituted. A law of Feb- ruary 1971 fixes maximum and minimum sizes of the farms, in irrigated areas and provides for land consolidation. 76. The size of most farms is too small to permit: efficient operation. Of the 320.000 private farming units only 12,000 are 50 hectares or larger; they occupy, however, about 1.5 million hectares. Another 784,000 hectares were taken over by the Government from the colons under the Nationalization Act of 1964. Of this, 60,000 hectares were transferred to a parastatal organizatiori. the OMVtM; 1/ which in turn passed some land on to private farmers. The rernaining 724,000 hectares were placed under the supervision of the Office des Terres Dominales (OTD). The OTD established state farms on 68,000 hectares and maintains several pilot and educational farms on 48.000 hectares. Sonie 400,000 hectares belong to 565 cooperatives of which 218 are production cooperatives located in the North, while the other 347 are service cooneratives in the Center and South, essentiallv nreoecunied with extensionl services and land development (mainly fruit plantations and imnrovpmpnt of nomadic pastoral areas) Finally 206-000 hertnres remain for sale by the OTD, throughout the country, of which 112,000 hectares are retained for voung setters_ 1/ O de------~ -Mis en -------- 1/ Office dei Mise en Valeur de la Vallee de la Medjer-da. - 22 - 77. The constraints from unskilled manpower are compounded by a conspicuous lack of trained and experienced farm managers wlhich is being felt in all three sectors, private. cooDerative and governmental. Over the last six years, the efforts made to fill the gap left by the departure of the colons in the early and mid-1960's had only little result. More- over, the private sector has been discouraged by the threat of collectiviza- tion and the changes in agricultural policies through 1969. Foreign techni- cal assistance in this field has been very limited; at present, there are some 200 expatriate agricultural experts in the country. 78. There are relatively few well trained and exnperienrd Tunisian agricultural experts. Although the existing educational system provides technical training at secondary and hlgher 1pvel5o rnupring, scz ih-erts as general agriculture, irrigation, agricultural engineering, horticulture and forestrv- not many Tunisian stiudents enmnarpd to rhe rPnteirPmen1ntq have so far passed through these schools and courses. 79. The country's extension service suffers badly form a lack of staff. This is not only a reflection of the general scarcity of dn'omtic and foreign experts, but also due to the fact that government administration, pra6ttat1 norganizations, cooperatives, ~arA-fc,mh1n1t ~ a,nd large private farms absorb most of the country's trained agricultural manpower. Because of the 1nsufficient impact of gencral extension agents, the Government is in the process of developing specialized services for cereals, livestock, eLt. - WULJ.L LLotWer v C care alsoV suLff J CL llrt5 X L SJtf l,ackLo technJi s1 A combination of higlly trained specialized agents at the government level wit-LI aler4t. generaIL agents in tlhe Aistricts coulA, how - er, give sti-4fa- tory results. The country had an encouraging experience with the Mlexican whileat program, whi chL'I Ihias leA to the esLalJishLUent ol a nucleus of extension agents trained in cereals production. 80. Government's involvement in Tunisian agriculture is large. Apart 'rom dlrect ownership of the land, the rneed for 'rrigation. and soil conservation has frequently involved the authorities in important investment deciLs'oris. D uring 1965)/6B, Lor exarup'le, ULrect Gover.m.ent iLrLvestmients represented 71 percent of gross fixed capital formation in agriculture, while public enterprises accounted for 14 percent and private entelprises, including cooperatives, only 15 percent. Thus perhaps 10 percent or less or total investment was due to decisions in private agricultural enterprises proper. However, with increasing confidence in the policies of the new Government, private farmers are likely to invest more and according to recent estimates, it already appears that the share of the private sector increased in 1970. Conversely, the share of generai Government and public enterprises in agricultural investment declined last year and is expected to decline further in 1971. Along with these trends the authorities foresee a shift in the allocation of funds away from irrigation works toward on farm production facilities. - 23 - 81. Since 1969, the Government also has placed mare emphasis on fncreasing thei availability of innuts through measures to facilitate the importation of spare parts, expand the distribution of seeds and encourage uitilizatrion of n1t-rogen fert ilizers= Prices for fert-ilizer we-re rpleduced and special credit facilities were made available to the farmers. As a repult, imports of nitrnogn ferti1iz7Pr inrrPeaPd from an averege of about 23,000 tons per year during 1963/68 to over 40,000 tons in 1969 and 1970. Yet these measures arp st-ill insQifficiPnt=. At least 25jO00 tons of nitroo;pn fertilizers are needed to maintain vegetable and other irrigated crops, which wiouimd leae aniibt 20,000 onsinq for cereals. Thic iiquant-it¶7y t.iield convr only the requirements of 100,000 hectares, i.e. not more than one fifth of the area to which fertilizers- should be applied if Tunisia was to become self- supporting in grains. 82. The twvo main sources of agricultural credit in Tunisia are the Banque NationLale de Tunisic (BMT), and th --verr.ment i tsef. --l BN tT supplies mostly short-term loans to the larger farmers from its o'arn resources, .;llil-- meiu ad -on=ermm loans to large farm,s and all loans exceedir.g 'n 250 W J.~ L4 I ILUU -LUS IS :I ILU I -UL16 L~ L_ AL 0 L ~ i L"LL,=di LU dL.k .LU~1 UAL A.L J., , _J J to small farms are financed by the Government's special fund for agriculture d`TnCnA% ..11 neTIr als aAm1n4s-r -- coun e par _On-' 'er.ve _'rom 'nT t.orn vL 'r'. . ±1LW 0,. J L aU ;u UIL d DL L. LLL Lt:VULLt L- LL L U U L Ul. L UI r 14ou sales, the cash1 portion of the World Food Program, and cooperates with the Tif rlT I 1 _ 1 * - 1 1_-Iel- IJ-BPD in ad LIiLLiLULeILng agricu.LLural credit pLoJects. In October 1970, new legislation was passed prescribing measures for making funds available to FOSDA to encouarage private in-vestrment. To date, honwever, the credit made available by FOSDA appears to have been far short of needs. 83. Government controls and operations of official marketing agencies have kept prices for major agricultural products (cereals and oli-ve oil) stable during most of the past decade. Marginal adjustments were made after 1967 but they provided little incentives for the producers. Prices for other agricultural products (mainly fruits and vegetables) fluctuated more freely reflecting supply-demand relationships in (domestic and foreign markets. During late 1969 and early 1970, the Government decided to revise its agricuitural price policy to encourage production. Some prices were liberalized, especially those for animal products, but the new policy still needs further clarification. s4. Tunisiats agriculture has received large-scale foreign support over the last ten years. Although it is difficult to assess how much foreign financing contributed to agricultural investment, there are indications that it amounted to almost half of the total. Hydraulic works have been financed by the United States, Germany, the USSR, Kuwait and the African Development Bank; soil and water conservation and the establishment of fruit tree plant- ations were carried out mainly with the help of the World Food Program. Loans and credits from the World Bank Group have supported grain producing cooDer- atives and private farms, dairy farms and date plantat:Lons. Some indus- trialized countries are providing supplier credits for the purchase of aeri- cultural machinery. The United States, Germany, Netherlands, Belgium, France, Italy, Denmark and above all the UNDP/FAO are financing technical assistanre projects relating especially to the improvement of cattle and sheep farming, irrigation practices and farm management. - 24 - 85. Outlook. Recent changes in government policy, especially the dissolution of many cooperatives, encouragement of private farmers, increased imports of fertilizer efforts to spread high-yielding seeds and continued ex- pansion of irrigation network, are beginning to show results. Togethier withl the return of more normal weather conditions they seem to have brought the de- cline of production after 1965 to a halt, and laid the foundation for a moder- ate increase of agricultur4al output in future years. Gralns can be expected in wheat and vegetable production, and in the longer run in livestock ar.d fruits. However, furthler policy cLhanges are required tA.o overcome existing constraints on production and to accelerate the long-run growth. The more..o than 10 percent increase expected for the current year will be an exception caused by the abnormally large olive crop, and should not be interpret-ed as the b1-egir.ning of a seriles of hig'. gro,,,thl rates. at. l C. or lo ccele eit _ _ L a - - _ _ Al C 1 A. . I r i 4 n w V A ne ed. . A WVV. LIL U LO LU aLL I L C LIAC LuLL CO.iC U L L L. iULL WVIJU.L LCCUt1 LU be concentrated on the larger farming units where modern techniqucs can be mtore easily "pl-e. egiiatpoutvtvgisi h hr n IIIULC COCLJy ajJj L C_ 4.1 -EL 6 ~L-L L -L C aIJL L.PL UU U _L LLV -L L V 6a- CL[I~ Z L LL L I I V_ ' L (JL L dul medium run could be achieved for cereals, irrigated agriculture and liv2- s toCk.Production Of whlLeat andu other grains could 'De ra i(c rP.I-t Lv-J.V quickly by provid,ing larger farms in the northern dry-farmin- arens w ith lie LUittct::ZjZL i tY sc 'l uulLildLC,J ei Lp:lL-LY LI1t l:: pare patsb, neW :eU'b fertilizers and pesticides. Output from irrigated areas could be increased uy rehabilitatLing existing perimeters for wbiich major worls adu di.stLribuLion systems have already been built but which are not yet fully used. It is esti- mated tllat at present some 15,000 nectares of sucn peririterei exist iII tlhe center of the country alone. By establishing commercial feed-lots, the pro- duction of meat could be substantially raised since most animals are now being slaughtered underweight. In the longer run, measures could be taken to improve livestock bree(ding, to strengthen thle feed base of the hicrds, to further expand irrigated areas and to raise yields of vineyards and fruit tree plantations. 87. In order to achieve these productivity gains, the Government would have to streamline its administration. In particular, agricultural credit needs to be decentralized. Marketing organizations for vegetables, fruits, flowers, meat and other perishables for which Tunisia has promising export prospects, will have to be made more responsive to commercial opportunities. Especially crucial would be efforts to overcome the existing scarcity of technicians and managerial talent. In the short and medium run, this constraint could only be removed by relying more extensively on foreign technical assistance, either by hiring foreign experts or by permitting foreign firms to farm Tunisian land, at least for a limited period of time. In the longer run, adequate training would have to be provided to strengthen the local cadres. 88. Forestry. Although official statistics show that nearly 10 per- cent (1.2 million hectares) of Tunisia's surface is covered with forests, in reality only about half of this area has a productive potential. The - 25 - rest consists mainly ot eroded mountains covered with brush and nas practically no forestry value at present. During the past, the Government's forestry policies concentrated on the Northern areas where between 1956 and 1970, 122,000 hectares have been planted mostly with eucalyptus and Aleppo pines. Unfortunately, most new eucalyptus plantations started to show signs of feeble growth after their fifth or sixth year. The Institute of Reforest- ation of Tunisia and more recently the National Institute of Forestry Research together with the UNDP/FAO are working with the Ministry of Agriculture's Forestry Directorate to solve these problems and to develop a rational long term forestry policy. The anticipation is that even in the North many areas formerly though of as good forestry land would be better utilized as pastures and that instead of eucalyptus, local pine (Aleppo pine, Pin Maritime and Pin Pignon) should be planted. 89. Fishing. Tunisia has a coast line of 1,300 kilometers on the Mediterranean and a yearly catch of about 30,000 tons of fish. Most of the fish is consumed domestically. Present equipment is relatively inefficLent and modernization of the fishing industry could increase the yearly catch to some 50,000 tons per annum. The Government has started such a modernization program and receives support from UNDP/FAO and IDA projects. If the effort is successful both local consumption and exports could increase appreciably. Marketing facilities seem to be well organized under the supervision of both the ONP (Office National des Peches) and the Fisheries Directorate of tlhe Ministry of Agriculture. B. Industry 90. Structure and Performance. In 1970 industry, including manufac- turing, mining and petroleum, accounted for about 23 percent of GDP at factor cost, 16 percent of employment and almost 70 percent: of merchandise exports. Apart from some capacity in the chemical industry, petroleum refining and steel, Tunisian manufacturing still consists predominantly of ligh industry producing final'consumer goods for the domestic market. Food processing, textiles, clothing, leather and woodworking contribute more than two-thirds to manufactured output. Horizontal and vertical integration is limited since most manufactured products involve little domestic processing (food, ceramics, construction materials, paper pulp and lead) or are derived in large part of imported intermediate goods (mechanical and electrical products, plastics, synthetic textiles and sugar refining). 91. Industrial enterprise is concentrated in and around Tunis, which accounts for about 60 percent of all manufacturing activity, while the remainder is distributed about evenly between Sfax, Bizerte and Gabes. Gafsa, in the central west, is the principal phosphate mining region; and El Borma near the Alegerian border in the south, produces most of the crude oil. - 26 - Table H: Key Industrial Indicators 1965 1970 Production /a 71 112 Of which Grude nil 1 23 Other mining 9 11 Manu,f2 r turing 61 78 Exports lb' 34 62 Of which Crude oil - 23 Other mining 15 12 Manufacturing 19 27 Ir..vestment /b196 Of which Crude oill '73 Other mining 21 Manu'factur'Lng10 _ AddUed vaLue in milion di.nars at 1966 prices. I u llI'UV4ILILon d'r.ars at current priLces. UeUU fL±1±±UI1VU.LIVeL1L t !L LU L1 UULL.L1OLU a L E! 92. Despite hea-vy in-vestment, industr'al output has gro-wn relatively slowly. Between 1964 and 1969 some D 123 million were invested in manufac- turing and mining, excluding petroleum development, but production at constant 1966 prices increased by only D 19 million during the period 1965/70, suggesting an incremental capital output ratio of more than six. Growth in manufacturing which averaged about 5 percent a year, has occurred mainly in textiles and clothing, replacing in large part previous imports. Food processing declined during the period, as a result of poor harvests, while chemicals, mainly fertilizers, increased through 1968 and then levelled off in the face of both marketing and supply difficulties. Steel production a.d assembly operations were responsible tor the tripling ot output in the mechanical and electrical branch, while the remaining branches expanded modestly (Table 2.2, Statistical Appendix). Output in mining has remained virtually stagnant, accounting for about 2 percent of GDP, while crude oil production began in 1965 and rose quickly thereafter, representing 6 percent of GDP last year. 93. Apart from petroleum which in 1970 accounted for 26 percent of all merchandise exports, industrial export performance has not been - 27 - impressive.. Exports of fertilizers, phosphate ores, and other minerals have decreased during recent years. and the viability of subsidized Dig iron and iron bar exports, which rose considerably in recent years, is questionable. Exports of light industrial goods have not increased, nor have new products been developed. On the other hand growth in exports of construction materials. mainly to Lvbia. of naner Oulp made from esparto grass, of lead, and of carpets, appears to be based on1 the development of viable economic onnortunitles. 94. Little informatinn is available on thep size and ownershni of industrial enterprises, their capacity utilization, cost structure, labor nroducttivtv- nrnfits and lnsses= Existing statistirc are noor even for production data. There are indications that many firns are overstaffed, resulting iTn low labor nrndiietivityv and that despite heawv protecrtin average profits are relatively small. Many enterprises are in fact operat- ing with losses which aro covPred hb anvPrnmmnti subsidipe and hsnk redit.-a Poor accounting practices and monopolistic pricing make it difficult to 4udge the economIc 4j ustification of industrial activities and the efficiency of their management even in those cases where profits are shown. 95. Industrial Policies. Industrial development has been carried out m..ainly by the pub"lc sector. Almost three-fourth;3 of -the invCst..en realized since 1960 in mining and manufacturing has been undertaken by pubali*e C LenCt *pi. sesOCO fA4C Vie . J StaLs. calo X lpenjixC%;tA t A.ixLcLu-Ing6 pCLeLJumA exploration, the share of public investment amounted to 85 percent. Apart from invest-ing through public-owned enterpr'ses, the (oeluetetne J.L -LJ±LC LL Lii UUIt LUL.L _JLLCU CIL pi LitC %YVJVtC1.IJUILtL CALCILUCU its control over the industrial sector through nationalization and purchase of a 'Large variety of unUdertakings wrhich were fLorr..erly Owned buy foreign firms. As a result, by far the greater part of industrial capacities are now publicly oQw1ed. 96 1A f !bovernmenL 5 ln1usLrIa.l investment polit-y has given priority to the creation of import substituting activities (clothing, refined petroleum.. products, cement, steel, veLicles andU equipment), thLCe expansJoin. of activities based on natural resources (phosphates and other minerals, esparto graSiS) and ----r ree.ty -h -eelp,.n of -L.- souher regl espdL L ~Ld5.i d[IU IIIULC LCUCLeLLy, L.iti Ut:VU.LVPIiIte[lL Vi Lilt- bUULLIULLI regionL of the country, particularly Gabes. 97. Government authorities have intervened in most industrial investment decisions, -whether 'n the public or the pr:Lvate sectors. Initial decisions on large new public enterprises in response to the foregoing guidelines were made directly by the highest autnorities, witn insufficient consideration given to economic or techn:Lcal questions. Investment decisions of established public enterprises are screened jointly by the Direction of Industry in the Ministry of National Economy, the Minis- try of Planning, and the Ministry of Finance within the framework of an In- vestment Commission, which is composed mainly of civil servants. However, none of these agencies has been in a posit:ion to make adequate evaluations of markets, costs, profitability, or technological factors. When financial results have fallen short of forecasts, as has frequently been the case, public enterprises have been subsidized. - 28 - 98. The investment plans of private entrenreneurs are also subiect to the approval of the Investment Commission, within the context of the Invest- ment CordP whicrh nrovides fnr the noantintinn nf cnprifir tw And nthor incentives largely on a case by case basis. Lacking sufficient personnel and unable to obtain reliable data on the costs, technology, or financial prospects of proposed investments, the principal criterion applied by the rommission appears to have been to avoid competition with enterprlses which have already been approved. Moreover, shortage of staff has resulted in excessive dela-s in granting appro,v.,als and this has been an obstacle to new private investment. 99. The Government has directly or indirectly provided the largest share of funds for. industrial investment. Initially it supplied public enterprises with equity capital, supplemented by capital subscriptions of publicly cor.trollaed banks and a few Tv fi.. o i ua. I addition public enterprises resorted to heavy borrowing from doemstic banks, usull wih- - ovrn.n guarntee AAdi40nl inncngWZ obtainedA fro.., %&~-~. ~ 1 WI. LII a V -CL ILSU-IIt . r. aII..C t I .LI -a. L1..LIIaI,L.LL6 WaD WU1. L.A.IU I 0 foreign suppliers, again with the Government's express or implied guarantee. iIi~p1.±LL±pd. U1IIt~ .LL L1U L. 10. ICU.ULI atu LU11L5, LrCL[I&LILZ L U L UP1.10. 1 V.1 L" TI- e pr'n.cipa' domestic source oil medium, an' logte,, ud frprvt industrial investment in Tunisia is the Societe Nationale d'Investissement (SNTTI).T--rlng the past frour years total private investment in .manufacturing has averaged about D 4 million per year, of which SNI has financed some 35percer.t. SIextends loans w4 th te.,ms between 5-12 years at interest rates between 8-1/2 and 9 percent. Government transfers and guarantees and the couversiLons of sLort iLnto Long term 'Loans h'1ave m ad'e th'le efLlectLve coUsL of borrowing for many public enterprises much lower. 100. In addition to the administrative procedures for guiding industrial investment, the establisnment of competitive new undertakings as well as the efficient operations of existing industrial enterprises have been hindered by regulations governing firms' abilities to import and export, to dispose of foreign exchange, and to set prices. Import restrictions have protected established producers, while the approval of domestic prices by Government authorities on a questionable cost plus profits basis virtually eliminates the need to improve efficiency. Direct governmental intervention in public enterprise operations has hindered the development and application of sound managerial practices. The availability of subsidized funds has tended to discourage prudent financial management. In a number of industries respons- ibility for marketing rests with autonomous agencies, and management's concern has been liTnited to production. In certain instances enterprise managers have been unable to choose their associates, and in others they have been encouraged to retain an excessively large labor force. Controls on wages and salaries have kept costs per man low, but have hindered the efficient utilization of manpower and may have contributed to high total wage bills. As a consequence of the foregoing factors, losses have been incurred each year in many public industrial enterprises, and except in a few cases there is little evidence of improvement. - 29 - vi i In the private seCLUL LrpULL.LLL.L.LLy forL LtLI prLoL.LtabL.L.LLy o the firm is the essential reason for the better management which generally exists. Faced with problems similar to those i'n public enterprises, concerning qualified labor, technological know-how and marketing abilities, many managers from the private sector have exhibited considerable competence and efficiency. 102. The Government has had difficulty in promoting direct foreign investment. in large part this results from the cumbersome procedures discussed above, from lack of confidence in the Government's industrial policies and in the treatment to be accorded. Although the investment code passed in June 1969 expressed the intent to welcome direct foreign investment and to grant a certain number of benefits, its application remains discretionary. To a large extent foreign direct investment in industry, whlich averaged D 10 million per annum in the last four years, has been conifined to petroleum research and development. 103. Recent Developments. Aware of many of the difficulties facing Tunisian industry the Government has recently reviewed its policies, intending to limit its role to general planning, promoting, and coordinating industrial activities, and to confine its participation in management to basic sectors such as minerals and power. Protection is to become more selective and competition fostered through greater reliance on the market mechanism. The Government wishes to restore confidence of domestic and foreign investors, encourage small and medium size enterprise, and free the private sector from administrative bottlenecks. Emphasis is to be given to export orientation and employment creation. Finally public sector enter- prises are to be reviewed with the objectives of strengthening capital structures, improving management and increasing profitability. 104. Implementation of these policies has been initiated but more precise measures will be required if the Government wishes to succeed in reorienting industrial activity. Administrative investment approval has been accelerated, there has been a tentative liberalization of some imported inputs and a com- mission is now reviewing public enterprises. Some marketing facilities have been strengthened and more attention is being given to improving project studies. Yet the network of industrial regulations, controls, and direct intervention remains substantially intact. Capital transfers from the budget continue at high levels, heavy investments in public enterprises are being realized or planned and private industrial investment is still insufficient. 105. For a healthy industrial sector to develop, the intervention of public authorities must be further curtailed. To ensure viable investment, administrative decisions should be progressively eliminated with the Govern- ment participating in industrial finance only when requested by entrepreneurs and only under clearly defined conditions. With this view in mind, planned outlays in new public industry should be re-evaluated. The elimination of the Investment Commission and the establishment of a single agency competent to assist investors and authorize the application of relevant laws and regulations equitably and uniformly would be consistent with the objective of increasing investor confidence. - 30 - 106. Similarly, a realistic assess.ment is nreeded of -resent public enterprise operations. Without an appraisal of markets and profitability, amn1hanoi4 oe e s4 ingn a4 teal S tru ctur..sac A 1and . l 4eng uni4 c ot 4 o n s1 nac S.,.. ° *v vv oLtL S..jiA cta.S %I. L. M,. tW t.L.t -Xzs L i .L -.tJO s.. tO IoXwo u.LoptaL. Case by case studies of the actions to achieve profitability, to the extent necess.t.ary w.i.thIn forein o zr ngnded In ctai -4-c4 a-ss 4i . .1b concluded that enterprises could be reorganized. Others may need to be litqu iAdated altogether. C!ocial obJ4ectives will Uhave lo be separated from. UCLJ ~ U LLb,I..L * S..0 uj .L.LV ~ W.L.. LLCV LU U ~ OpL.LULUL enterprise functions. Direct intervention in current finance, marketing, reLLU.k ILILI L ~ ~LU a±cI .Le ~1UU.L U~ LUiIII.LZ.VU * aLLU jJUU.L.L% L IiteLprise recruitmlent, wages and ' salar-ies should be ruin.,d and_J puli_r.eprs management should be given more responsibility and autonomy. The objectives of profitable growth and industrial expansiounc be achieved by the applic- ation of indirect policies, leaving day-to-day decisions in the hands of those most closely in contact with and responsible for the success of the enterprise. 107. At the same time to minimize the fear of discrimination and suDject public enterprise to the discipline of competition, pUDlic and private firms should be treated equally. This means equal access to funds and to markets, and uniformity in the application of protective policies and fiscal and other incentives. Above all, Tunisia would benefit from a more open acceptance of foreign management and capital. Assuming the effective application of a limited number of regulations concerning the disclosure of accounts, taxation, and fair trade practices, and guaran- teeing the transfer of profits, Tunisia would risk little and gain much from foreign cooperation in the development or its narural ana economic advantages. 108. Outlook. The acceleration of the rate of growth of industry and the emergence of a dynamic and competitive industriai sector depend on the implementation of the new industrial policy as import substitution opportu- nities decrease. in the short run this might result in a temporary drop in output and employment as unprofitable enterprises would be sanitized. However, a foundation would be laid to support rapid and long lasting industrial growth. 109. The principal advantages which Tunisia possesses for industrial development are the low cost of labor, the quality of this labor if it is adequately trained, the initi-itive of its managerial class, much of which could be shifted out of cornwnrcial activity into industry, the nearness of Europe for the exchange of goods and services-and finally a stable pr';tical environment. Among the branches which show possibili- ties for de, l:.'opment are such light industries as textiles, clothing and plastic articles: mechanical and eletrical products; packaging; food processing; handicraft items, with a view particularly towards sale to tourists; subcontracting activities; chemical industries and further petroleum research and development. - 31 - 110. hle outlookc for minerals and crude oil merits special attention. In minerals present plans to expand phosphate production need to be care- fully considered in the light of their economic and financial viability. Market conditions in countries with convertible currencies are not very favorable to ores of Tunisian quality and the cost of enriching them is high. Production will be capital intensive with most of the equipment coming from convertible currency areas, and little employment will be created. Market prospects are more favorable for other minerals, particularly lead, spath fluor and mercury, production of which has expanded with profitable results. However, known reserves of these minerals are limited and output could soon decline unless more resources are devoted to research and development. 111. Petroleum. Crude oil production exceeded 4 million tons in 1970. Exploration has been carried out by Italian and French companies mainly in the center and south of the country. The El Borma deposit was discovered in 1965 and production has risen to nearly 3.9 million tons in 1970; proved recoverable reserves are about 50 million tons. Another deposit was found at Douleb (center-west of Tunisia) in 1967 which has produced about 160,000 tons per year. Production has tended to level off since 1969 as no further deposits were discovered. 112. Tunisia itself does not undertake oil exploration, but the per- mits granted to foreign companies provide for Tunisia's participation in case of discoveries. The Tunisian Government holds 43 percent of SEREPT (Societe de Recherches et d'Exploitation des Petroles en Tunisie) in association with the French SNPA (Societe Nationale des Petroles d'Aquitaine) at Douleb: and SITEP (Societe Italo-Tunisienne d'Exploitation Petroliere), which operates El Borma, is owned in equal shares by Tunisia and a sub- sidiary of the Italian Oil Company, Ente Nazionale Idrocarburi (ENI). Taxation amounts to 50 percent of the production valued at actual export nrices (81.82 - $1.86 per barrel f.o.b. Cekhira in 1970). A norportion is paid in the form of oil deliveries to the Bizerte refinery also jointly owned by Tunisia and ENI. 113. Research permits have been granted for about half the country's territory and most of the continental shelf off the eastern coast. SNPA has the largest nermits (40,000 square kilometers). followed bv ENI and CFP (Compagnie Francaise des Petroles). Indications of new deposits have been found by ENI south of El Borma and more recentlyv CFP (onerating under the name of Compagnie Franco-Tunisienne des Petroles) had successful drillings ill the Sfax area where about 300-000 tons of crude oil are nnw expected to be produced annually starting next year. Prospects are quite favorable for more dircoveries in that and other area5m Three new npermit were granted last April to Canadian Industrial Gas and Oil Limited and the German T=H, Weisser-K G= ointlvy the, include anrea in t-he Gulf of Tunis, in the Gulf of Gabes and south of the Chott-El-Djerid. - 32 - C. Tourism 114. Starting from a low level, tourism expanded rapidly in the 1960's. By 1970, the number of foreign visitors exceeded 400,000 (Table 8.4, Statistical Appendix), hotel nights had reached 3.8 million, and tourism had become the most important foreign exchange earner (D 29 million). Almost 80 percent of foreign visitors come from Western Europe, mostly by air and on organized tours. The expansion of this form of tourism has been accompanied by a rise in the average length of stay per visitor to over nine days, but has accentuated seasonal fluc- tuations in tourist activity. Almost 50 percent of hotel nights are registered during the July/September period and, as a result, the average rate of hotel occupancy has been less than 30 percent. 115. The expansion of tourist demand slowed down in 1969 and 1970 as a result of flood damage, the political situation in the eastern Mediterranean area and difficulties in marketing organization. Although these factors are thought to be temporary - bookings for the 1971 season are reported to be satisfactory - they make attainment of 8 million hotel nights by 1972, as projected in the current Four-Year Plan, questionable. 116. Initially the Government promoted tourism development through a public hotel company, and public investment was about 90 percent of the total during 1962-64. Then the authorities relied more in indirect financial incentives and planning assistance to the private sector. Private investment gradually became dominant and contributed almost 90 percent of the total in 1970; the proportion of foreign direct investment increased to over 10 percent. 117. So far, investments in tourism have been profitable although a number of hotels were built on standards too high for the demand. Both the recent decline in hotel occupancy and the increase in domestic prices have reduced the attractiveness of hotel investments and other sectors such as agriculture, commerce and real estate are now open again to private investment. About 7,000 beds are expected to be completed in 1971 and will bring the total capacity to about 44,000; but the reduced interest in tourism threatens further exnansion; and the actual bed capacity in 1972 is likely to fall substantially short of the projected 65,000. However- depnite the Rhnrtfa1 in the bed ranarity and the number of hotel nights, foreign exchange earnings will exceed the Plan targets because o%f a higher Anily expenditu,re per visitnr thnan initially pro4erted= 11Q ~Tka r- io-rnma t- ic onnairlorincy a m-nczt-ar nl:An fo-r t-nilricm 118. The Government is considering amt p ,lan --- tn,urism development through 1985. Preinvestment studies are about to be com- pleted too assess the n-eed for- 4ir.fastructutre in t-he secto^r. Toenta 2tive'Lr targets for the mid-1980's are 1.5 million visitors and a 125,000-bed capacity. .m.aese are moAea.te ob4ecti4-s - 4hic wo1ld --lt 4in a decli - 33 - rather than increase of Tunisia's share in Mediterranean tourism. Develop- ment -1A bn cnse ntrateA 4n seven tour4 te oneAs 4- --At e ^ 4ntone4fv the utilization of infrastructure. Such concentration would also be helpu.L to im.prove entertainmuent facilities, a condition for extendin the tourist season and the average length of stay per tourist. Attain- ment- of highier growthl targets wou'ld requiLre a re-v'si'on of present incen-- tives to tourism, a change in the marketing system as well as the intensi- fL±Lcation of L-raiiLLLg e'iorts. 119. Present iCnentiLves cons'Lst ofL .interest rate su)siU±es (up to 3 percent), the provision of infrastructure, the refunding of project preparatiLon costs and tax rebates On income and purchase of equipment. However, these incentives have to be negotiated on a case-by-case basis, and so far they nave rarely been granted. More automaticity and pos-sibly additional incentives may be required in order to encourage a sustained level or investment. Discrimination between geographical zones and hotel categories in accordance with the priorities of the master plan also needs to be considered. Moreover the import restrictions which often delay hotel construction need to be relaxed, particularly if foreign investment is to be promoted. 120. Marketing is usually done on an individual basis and has resulted in, great dependence on foreign tourist agencies. The provision of further incentives to tourism should therefore be accompanied by more systematic efforts to organize and possibly centralize marketing. This may require a stricter hotel classification and intensified advertise- ment abroad. 121. The shortage of trained personnel is a major difficulty. At present about 700 employees are trained every year in six schools built with foreign assistance. Requirements are estimated at about 2,000 trainees per year, and the training efforts need to be intensified and extended at a higher level and to activities such as hotel maintenance. D. Transport 122. Tunisia inherited a relatively well-developed transport system on gaining its independence in 1956. It is generally adequate for re- quirements during the next few years, though capacity needs increasing on certain routes. Moreover maintenance, particularly of highways, has failed to keep pace with traffic, and the quality of the system has declined in consequence. The Government acknowledges the problem and has undertaken, partly through conditions attached to recent Bank loans and credits, to remedy this situation. 123. The transport sector is characterized by a high degree of centralized control. Railways, ports and aviation are each controlled by a single parastatal organization and road transport is subject to a strict regulation of capacity, operations and tariffs. Despite this - 34 - strict regulatory structure there has, hitherto, been little effective coordination of the use and development of the respective transport modes. With a view to rectifying this situation, the Government is planning to create a transport coordinating unit within the Ministry of National Economy. The establishment of a National Transport Council with advisory functions is also being considered. 124. The 2,000 km rail network provides essentially for long-haul bulk shipments and, therefore, complements rather than competes with road transport. The main line extends from Bizerte in the north to Gabes in the south with five east-west links connecting the main line and major ports with phosphate and iron ore mining centers in the west and with Algeria. The system is operated entirely by the Government-owned Societe Nationale des Chemins de Fer Tunisiens, the southern section of the system having been taken over from private interests in 1967. Before the incornoration of the southern system; maintenance of track and enuin- ment on the northern system was neglected, but the implementation of recommendations by ronsultants regarding the reorganiz2tion of the work- shops and the recent Bank Group loan and credit providing for track renewal and nurchase of locomotives and rolling stock will imnrove the standards of operation and maintenance. Management, organization, costing and ot,ther tprchiinl studies a Also inrlu,ded iindepr t-he railwayv 1nn and credit, should provide guidelines for improved efficiency and future invoctmen.t. I125. Th.a hi,hrija sysQteTm consiscctsa o%f arsm 150 knn lm nf roads, nearly half of which are paved. Primary and secondary roads interconnect Tunis and other principal population centes The arage Adnsity nf tho system is about 91 km per 1,000 km , or 3.3 km per 1,000 inhabitants, which is comparable to other North African countries. The density of the network decreases towards the increasingly infertile south. Most roads were buil4t1- t-o st-andardns inadequa-te for current traffic vol,m-es and aggravated by neglect of maintenance, their condition has progressively Aeteri orated. 126. RloaA transport hLLas -a e gani, stadl in, --pr erltv I S.'.'. at,u LA. AL~ 9tL , o I' LL& -LLL itA ac..~ . =V_LO .V to other modes and is, at present, estimated to account for nearly 40 percer.; ofL all f'reigh'lt r,.ovem,ents. m.e continuing growth of Ile tourist percL~~~~~~~~~~LLL Ut ~~~~~~~~~~~~±± I. L ei~~~~~~~~~~~~~~~~~IIL LIIUV~~~~~~~~~~~~~~~IIL~~~~~~LLL~~~~~~~ * 1LI~~~~~~~~~~~ LULL LJALU.LLI~~~~~~~~~~~~~~~~~~~~~~~, ~~~~~A. IJW LII Lit LIL~~~~~~~~~~~~~~~~~~~~~~~~~~~~ LIJUL £0 L~~~LIL I LI& t trade contributes to its rising importance. Freight consists mostly of sihorter di5: aice h'Lauls oft uiverse traffics, ULor whiLcL LUaU Ldab a Lcopeti- tive advanL. over rail transport. In 1969, the number of road vehicles was about -5,J0Q or wnich a'ou t 11 ,JuOu were cummercial Ireight vehicIes and 2,000 commercial passenger vehicles. 127. The road transport industry is subject to strict capacity and operational restrictions. it is divided into a public sector comprising some 15 public companies operating for hire and reward and a private sector consisting of nontransport enterprises operating vehicles for the carriage of goods exclusively on their own account. These sectors account respectively for about 30 percent and 70 percent ot total capacity, the high percentage of the latter probably being due, to some extent, to - 35 - the strict limitation of entry into the public sector. Proposals are under consideration for easing the operational conditions, relating to routes and traffics, under which both public and private licences are issued, but the essential centrally controlled structure of the industry will not be touched. Efficiency of road transport would benefit from a greater degree of liberalization. 128. Tunisia is served by four major ports: Tunis-La Goulette, Bizerte, Sfax and Sousse. Total traffic through the four ports increased from 5.6 million tons in 1963 to 8.2 million tons in 1966, at which level it has since stabilized. Since 1965 the four main ports have been operated, developed and maintained by the autonomous Office des Ports Nationaux 7unisiens (OPNT). In 1964 a Bank loan was made for the exten- sion of La Goulette and in 1968 a further loan providled for improvements and the implementation of measures, to attain a more efficient operation of the ma-or ports. Construction of a new deep-water port for the export of phosphates was started in the south at Gabes in 1969. Although this project wi:l:l yield some regional benefits, its economic justification is doubtful in view of the possibility of adapting existing transport facili- ties to Sfax for this purpose. 129. lunisia has three international airports and about 30 small airfields. Expansion of tourism has resulted in a sharp increase of international air traffic with an annual growth rate of about 25 percent between 1965 and 1969. The international airports and a few smaller airfields are, at present, being improved to provide for anticipated increases in tourist traffic. The national airline operates medium range Jet aircraft in a pool arrangement with Air France, mainly on the France-Tunisia route. Domestic air transport is insignificant at present, but is growlng fast. 130. A 775 km. oil pipeline built in 1960 with in annual capacity of about 15 million tons connects the oilfields of Irn Amenas in eastern Algeria wit:hi Cekhira on the Gulf of Gabes. A branch to the Tunisian field of El Borma was added in 1965. The pipeline and the port are operated by TRAPSA. a subsidiary of the French government owned group ERAP. Tunisia's foreign exclhange receipts from transportation and port taxes amount to about D 5 mn:illion per vear. The nationalization of foreign oil comDanies in Algeria in February 1971 created a conflict about the property rights of transport installations on Tunisian territory. Oil transnort from Algeria has been interrupted and Tunisian revenues will decline as a result. A Tunisian owned gas nineline of about 300 km. is under construction be- tween El Borma and Gabes where it will supply a new power station. E. Education 131. Since independence Tunisia's education system has grown rapidly: ovpr thp l'i-year nprind 1956-71, primary education enrnll.entsf rnao frnm about 200,000 to more than 900,000 pupils, while during the 1960's only, the number of pu1-ils in secondary schools increased from roughly 35,000 to 180,000, and the University of Tunis more than quadrupled in size, from - 36 - 2,200 to 9,800 students. At the same time, the Government has pursued a policy of equal educational opportunities regardless of social or geographic origin of children, indicated by the presence of primary and secondary schools throughout the country and governed by the principle of free educa- tion plus scholarships. 132. Impressive as this development may be, it has been achieved at considerable cost: on the one hand, the rapid expansion of the country's education system has weakened its efficiency. Average annual repetition and dropout rates over the six-year primary course are 30 and 5 percent, respectively, and 12 and 7 percent during the secondary cycle; 40 percent of university entrants fail in their first year. This, as a recent Tunisian study has pointed out, inflates the cost of preparing a primary (secondary) education graduate by 40 (60) percent. On the other hand, there are indi- cations that the country's stock of educated people is in excess of the im- mediate needs of the economy. This statement is not meant to include pri- mary education which may be regarded as a social service pursuing primarily other than economic goals. It does not yet apply to higher education either, although graduates from some faculties may shortly be experiencing a narrow- ing of their job opportunities. It is at the secondary education level that employment problems exist. However, the unemployment statistics in their pres- ent form are unsuited for an analysis of this problem. 133. Present enrollment levels in secondary education imply that by 1976 the total stock of persons with more than primary education will have grown by at least another 150,000. On the basis of the employment growth and emigration hypothesis of chapter II (i.e. 60,000 additional jobs and a net emigration of 116,000) and taking into account the needs for replacement, it seems likely that the excess stock of educated manpower will further increase during the forthcoming years. 134. Apart from the social implications which this development may have in the longer run, the rapid expansion of the secondary education svntem also nut a heavv burden on the country's economic resources. 13S_ An indirator of the overextension of the education system -- in relation to Tunisia's resources and other investment opportunities -- is the high sharp nf Pduertinn expenditure in gnvernment spending; and its pro- portion to GNP. The Ministry of Education absorbs at present almost one- third of thp rentrnl GnvPrnmenf't8 recurrent hibuigt and 19 nperrent of its investment budget; with the inclusion of the education and training activi- ties of other Ministries (r.tablty thoase of -abor and Social Affairs, Agricul- ture and Health), the educational bill proper claims a still higher share of buAgetarzy resou:ces. As a percentage of GNP at market p-ice-, edca-tion exceeds 8 percent which even for more developed countries would be unusually 1U4 . - 37 - 136. Although the authorities are becoming increasingly concerned about the financial burden of the education system, no systematic attempts have yet been made to prepare and implement educational reforms which would reduce the rate of wastage and bring the output of the system more in line with the country's need for qualified manpower. 137. Broadly speaking, there are three ways in which education policy could try to tackle these problems: (i) Tt might attemnt to bring down unit costs by using its inputs, such as teachers or equipment, more sparingly (which dnoe not nprpssarily mean mnre effirient1v): (ii) It counild aim ton hift- part of the finanriil hiirdien frnm the Government to the private sector, e.g. through the lntroduction of school fees; this would pro,bhAh1y lPnad to a relief of the public budget both directly -- the bene- ficiar4es of education covering directlyva part of the cost -- and indirectly, i.e.; (iii) Through a more restrictive enrollment policy (a raising of entrancea qulfiai ns and acurtai4lingy of repetitionn rates) to reduce the rates of expansion. 138. 'rhe options are much more limited than the above list would suggest: Cost-saving ..methods must alw,.ays be weighed -gaist the- possible repercussions on the quality of teaching. Two recent policy measures fall in v-4 cateo, the 4 ..es _e, 4.A 4the pupi ach4 1 ra tio A.n. 4- 4p - iA.yaeduc_ *1& L.. .a .ru t64U1.. . L ca ~ Li LU' IAj4 L. l.~% L~ . 4 I L .i L tion, and the gradual replacement of French secondary school teachers by Tun.isians. '..e f4rst step, which perm.itted a growth of enrollments I.. tLAL4.OL~UO .L411 A. At 0 -O L W I*LL p0 lI.. LOI C IJO I ~ . Out M IJ.. IUIL I ~ 20,000 pupils while maintaining about the same teaching force, was to ab-sorb part ofL thlIe general sadLary iLncrease for Lteach1Lers wh1cl look eAffecS a few months ago; it is inconceivable that one could further significantly 4.L. -O :: L&lC U iL.A. L. U L L L.A. \ LO^CIL%IO L WCOOZL. W wiJt 'II 4. VIJ I.V affecting their productivity. Apart from a large-scale application of labor=saving new educa-ton ruedia f.(.w- so lar 'as failed to proAuce unit .±CUIJ D1 -LL HO LUU . .L±L IUOUL \Wll. L&L 0 J. L L iI LU.L.L. U Lu L LILA.. I.LI&4 cost reductions wherever it was tried), there remains only one field where the LiLrst approacih seerus to hoLdU p r LsU bI naeUtLy, thstL Uo sc.o1V.LaULWILp pUol- icy, above all at the university level where student aid accounts for 60 percent oL total recurreent expend'Lture. Ln all likellhood, attempts to stiffen the presently very generous provisions will have to face a general resentment from ehe public and an articuIaLe resisLance by the StuUenLs. 139. As for the second alternative, it is unlikely that the Government will resort to introducing school fees, given its strong commitment to the ideal of an egalitarian scnooil system. Student ioan scnemes which are IIow experimented with in a number of countries would appear to avoid these rais- givings. However, the short-run relief for the government budget might be negligible. - 38 - 140. An enrollment control in some form or other would thus remain as the principal policy instrument to count on. It would have to be used dis- creetly; the failure to achieve the declared target of lowering the 1970 transition rates to secondary education from the customary 40 percent of primary school graduates to 30 percent (the actual ratio was believed to be close to 37 percent), or the opposition encountered recently when trying to eject multiple repeaters from the university, may serve as illustrations of the strong social pressure whicIh is underlying the country's educational expansion. 141. A restrictive enrollment policy would probably be most acceptable in the form of stricter quality controls. The 1970 selection of secondary school entrants and the drastic fall in the rate of baccalaureate passers (who automatically qualify for higher education) from 62 percent in 1969 to 41 in 1970 seem to mark the beginnings of such a course. By the same token, the various reforms of the structure, content and duration of secondary education (numbering three since 1968), all in the direction of greater di- versification and flexibilitv. can be seen as an effort to induce as many pupils as possible to complete a given education cycle rather than drop out. In higher education, a similar measure is now being considered which would provide for various self-supporting two-year studv cycles for the less- qualified students, leading to a certificate which is thought to enhance their chances in the labor market (and their subsequent productivity) above that of the nrprent first-year dronouts. 142- While these measures ought to help make the education system more efficient (both internally and vis-a-vis the labor market), they are no subhstitu,tp for an integrated nlanning annroach to the formation and utiliza- tion of human capital. At present, Tunisia's education policy is concen- tratina on tfhe imm.diate nrohlems and needs, with advanced nlanning receiving scant attention (e.g. apart from a set of alternative enrollment projections up to 1980 for primary ediuation, there are no offirial PetimaPtes of future enrollments or system requirements). It would thus seem a high priority task to strengthen the planning capability of the MiniQtry of Ed:ration and to ensure its effective coordination with the planning efforts in other sectors. - 39 - IV. DEVELOPMENT PROSPECTS 143. Tunisia has good growth potential. Promising markets both withLn the country and abroad together with complementary and unused production factors -- especially surplus labor and land -- would permit a substantial acceleration of production and exports in the major sectors. But the utiL- ization of this potential will largely depend on the implementation of changed economic policies. Major structural adjustments are required, and results in the form of changes in the pattern and speed of economic development will therefore take time, but could be considerable in the longer run. Prospects for 1971 144. In terms of production, 1971 appears to be a relatively favorable year. According to the Government's annual economic budget, GDP at constant factor cost is expected to rise between 7 and 8 percent, a rate which could well be attained. The main increase will occur in the agricultural sector, where the heavv rains of 1969 have produced a very large olive crop 1/. Denending on the onitrome of other rronps epenriallv rerenals total aaricul- tural output could grow by some 13 to 16 percent. The increased agricultural outnpit will haue repnerrpoi1inr. on the food nroresqina induistrv which is the largest subsector in manufacturing. Together with increases in other brannhes mantifartttrin' nroduiertion rould thus rise by about 10 nercent. Similar gains are expected in phosphate mining where the 1969 flood damages hAd hee novercome lnst year, and expnsnion programs are rontinuing Tn ad- dition, outptut will be higher in the construction indulstry, due to the larger investm.ent program, and in services, especially tourism. and transport= 145. Tmpressive as the grnwth rate may be, it wrill ha overshadowed by an even faster growth of demand. Investment outlays are expected to reach D 172 million, or 18 percent more than in 1970. Most of the increase will be concentrated in the public sector, especially in public enterprises, and will he Qnent for addition-al water supply, electric power, transport and telecommunication projects. Investment in other sectors remains at about the anme level as last year, althoughl there may be some dec-line in ac,rit-ir,l- tural investment while manufacturing investment is maintained partly becaluse of large d4IbursementS for the GQabeS Chemical facto ( T . Publ. c a "a private consumption which were originally estimated to rise by less than 5 percent are nor.ow 1 il, -y t r faster folloi t4- he renta- increase in wages and salaries. Finally, the large olive crop and even more so higher crude oil prices wvill result in a strong rise of exportA demanA. 1/ LII LiI~Lthe nat.Lonal accounLts th I..e wh LoLe o"lve crop hIarLvestedi duriULLg 1o1VembrLUL 1970/January 1971 is accounted for in 1971. - 40 - Table I: Growth of Production and Demand (in percent) Annual Growth Rates Years Production /a Demand /b 1965 5.5 16.7 1966 - 2.7 1.4 1967 1.1 4.7 1968 10.2 3.9 1969 2.1 9.5 1970 /c 3.8 5.7 1971 7T 7-8 12-13 /a GDP at constant factor costs. /b Public and private consumption, gross in- vestment and exports of goods and services at current prices. /c Estimate. 146. Although some of the factors underlying the increase in effective demand may be difficult to cope with -- especially the higher export receipts but also to some extent the recent wage and salary adjustments following steep price rises -- the accelerating trend indicates that government con- trol over domestic purchasing power is becoming less firm than in earlier years. In fact, the large increase of investment outlays reflects a delib- erate decision by the authorities to stimulate domestic demand in order to raise the level of economic activity. Considering the high rate of unem- ployment this may be understandable. However, it should not be overlooked that an expansionary demand management can only provide short-term relief in an economy hampered by structural production constraints, while at the same time it will lead to continued upward pressure on prices threatening the country's exports and long-term development potential. 147. The limited scope for effective demand control becomes apparent in the adjusted 1971 budget of -e Government which projects a slightly lower current surplus (D 24 million) than last year's (D 26 million). Cur- rent expenditure will rise by 9 percent while revenue will increase by less than 7 percAnt. The modest increase in revenue derives from a series of measures aimed at reducing the tax burden on the agricultural sector and on enterprises as well as the elimination of export taxes. On the expendi- ture side, about a quarter of the increase comes from the recent wage and salary raise. It is clear that the decline in government savings can only temporarily be tolerated and that expenditure control, both for current and investment spending, will have to be reinforced if a fair degree of finan- cial stability is to be maintained. 148. To some extent, the present demand overhang will be absorbed by rising imports, especially of capital goods and industrial raw materials and intermediate products. The 1971 Economic Budget estimates that imports - 41 - of goods and non-factor services will rlse by some 7-8 percent. Ir, the light of recent demand developments this may well be on the conservative side. On the other hand, as was already mentioned, foreign exchange earcnings are likely to be substantially higher in 1971 (+15-17 percent) preventing a further increase in the current account deficit of the balance of payments. As capital inflows are expected to grow, partly because many investment projects contain a substantial share of foreign financing, the gradual :im- provement in reserves is likely to continue. Longer-term Prospects 149. It is possible that the full implementation of the new economic policies will take time and this makes it difficult to assess the prospiects of Tunisia s economy in the longer run. However, in. case only marginal measures are taken, it is likely that existing constraints on production and exports will continue, particularly in the manufacturing sector. The situation of public enterprises will not improve unless far-reaching measures are taken to strengthen their management, streamline their pro- duction program, improve their financial structure, and increase profita- bility. The growth of manufacturing output will partly depend on the performance of the agricultural sector which is showing signs of improve- ment but remains still far below the feasible rate of expansion. Although output and sales of phosphates could further increase, prices may decline and economlc returns will be questionable. Only tourism and possibly petroleum then seem likely to experience a sustained rate of rapid expan- sion, Overall growth could be somewhat faster than the average of the 'Last five years (3-4 percent) but no rapid acceleration can be foreseen. In fact, next year's production may well be less than in 1971 if the olive crop turns out to be below average. 150. D)emand management will remain difficult in a slow-growing economy. With taxation already at a high level and continued social pressures for enlarged spending programs, the Government faces a difficult task when :Lt tries to increase public savings and contain the volume of investment. Room to maneuver will be limited further by the continuing financial drain to hard-pressed enterprises. The recent acceleration of price rises wiLl add to the problems of combatting inflationary pressure. 151. Tle outlook for the balance of payments hinges largely on the situation in the oil sector. After the 30 percent rise in oil prices this year, further increases in oil revenue depend mainly on the success of new explorations. Although there are signs that additional reserves could be tapped with[n the country or offshore, the timing and amount of such dis- coveries is still very uncertain. Other commodity exports are not likeLv to expand fast and only tourism and workers' remittances will continue to earn increasing amounts of foreign exchange. Import demand can be expected to rise moderately, more or less in line with economic growth. 152. The pace of development will however, be accelerated if the present system of central controls is substantially revised, more scope is - 42 - given to private initiative, and cooperation with foreign capital and tech- nical experts is intensified. The impact of such policy changes is diffi- cult to estimate at this point of time, but a sustained rate of overall growth approaching 6 percent a year in the mid-1970's and exceeding this rate in later years would certainly appear feasible. Tne next Plan (1973-75) which is now in its first stage of preparation, could play a leading role in the implementation of necessary economic reforms. 153. Unemployment will remain one of the most serious social problems for Tunisia. Even an acceleration of economic growth would not create much additional employment as it would be accompanied by improvements in produc- tivity per worker and tend, at least initially, to absorb the surplus labor presently existing in many enterprises. With rising population and labor force the need for additional employment schemes is likely to become more urgent over the next few years, and foreign donors should be prepared to assist the Government in expanding present relief programs. 154. Overall aid requirements till the mid-1970's will remain large. Barring major oil discoveries, the current account deficit in the balance of payments will be at least in the same order as during the second half of the 1960's (D 60 million per annum) and possibly even higher. Only a minor part of the deficits will be financed througlh private capital, at least during the next two or three years, and public capital will remain the major source of foreign inflows. Allowing for amortization payments and a further moder- ate increase in reserves, gross aid requirements from bilateral and multi- lateral public donors would thus average some D 75 million a year. A large proportion of this will continue to be required as non-project aid. During recent years such aid -- mostly in the form of food and other commodity aid -- accounted for more than half of total public aid disbursements. A similar percentage may be required in the future since project aid is un- likely to rise in the light of past experience, which calls for more selec- tivity in the choice of eligible investment projects. - 43 - Table K: Foreign Capital Flows, 1965-1970 (In millions of Dinars) 1965-67/a 1968 1969 1970 I. Public caoital. Rross 45 44 58 57 Grants 11 14 23 24 Bilateral loans 32 25 29 26,, International loans 2 5 6 7/ D of which: Project aid 16 17 19 19 Program aid 29 27 39 38 Repavlnents -3 -6 - 7 - 9 Public capital, net 42 38 51 48 II. Private capital, gross 36 33 29 30 Direct investment !c 3 0 5 3 Petroleum research 11 10 6 7 Si,nnI1 ipy an,i finwncnil creditq 22 23 18 20 Repayrn ents -14 -19 -20 -116 Short-term credits, net 2 - 8 - 2 -- Private capital, net 24 6 7 114 III. Total capital, gross 81 77 87 R7 Repaymnents /d -15 -33 -29 -25 Total net iAflow 66 44 58 !2 7;- Annual average. 7b Excluding SDR. T7; Mostly in tourism. Td Including net short-term credits. External Debt 155. With heavy additional borrowing the external debt burden is likely to rise over the next few years At the end of 197, Tun4sia's total medium- and long-term external public debt amounted to $768 million, of which $522 mil1i.L.on was A disb1 ursd CT rable 4.1). e ice pnyaJments on public debt -re es- timated to have been $62 million last year, or the equivalent of 19 percent ofA gross _Fore4 ign exc.-ange earnings a Icluding private debtt paymen # thbe V- ;!i~~L V- ; |&l -&X lo C h - ^ -F .. ^- >- kZ ymns th debt service ratio was about 22 percent in 1970. Although relatively high, lLe Aebt is now b-etl-er structure A , L*thanks t.o the restraint exercised by the Tunisian authorities over the last few years in the use of suppliers' cred- iLts, andU thle favorabUle con.ditions on whlich riL.ost foreign a'dI'L Lhdas bUeen r..iaue available to the country. Future payments on existing public debt will be rather evebnly spread over a long period, averaging $61 millio aI yeaL between _ 44 1971 and 1973, and gradually declining to $36 million in 1980 and $20 mil- It I _J lnQ P {TM_ .1 \\s. 1 t.._ _..4 _2w-t 11 1 .Lo nLI I 7UJ leU± t C e 1 ever"VeL hIeC XLII UUrlUen Is very 1llgl anLU W±.L.A. remain so for years to come. Given this situation, prudent debt management wiLh -very 'LiLLLU LrCUULrse LU sh;ULL- sLLU UCU.LULi-l-L11 pLrVaLt UbLLUrwLLr., WiLl continue to be necessary. Efforts to strengthen the export sector and in- creasing amounts of direct foreign in-vestments should in time lesser. the country's dependence on external assistance from public sources. In the meantime, although there is some scope for conventionai long-term borrowing, the extent to which Tunisia can borrow externally is likely to continue to depend very much on the availability of aid on lenient terms. STATISTICAL APPENDIX 1.1 Population data, 1956-1971 1.2 Population projections, 1971-1986 1.3 Male labor force and employment, 1968-1970 2.1 Gross domestic product by industrial origin, 1965-1970 (current prices) 2.2 Gross domestic product by industrial origin, 1965-1970 (1966 prices) 2.3 Expenditure on gross domestic product, 1965-1970 (current prices) 2.14 Gross investment and its financing, 1965-1970 3.1 1 '.c .--- -4 4. 1 ovt_1 O0A70 3.2 Value of exports, 1965-1970 33 1VoTI...w. of ----IS oP 861OC4.-A Co-W-t 19651970 _) .) V 'J.LWLUO J± U4ILVIO.L OAAF.-v L U'L UW%A %~JU AWJA. .LU.WO 7'W'.. L &Z( 3.4 Value of imports, 1965-1970 -~~ t ~ ~ .D .L~~..A 'If%ke~ 'I 7f% 3.5 LJ± . recUion o0 trade, 79-1.9L70 3.6 Breakdown of services receipts and payments, 1965-1970 3 .7 "re-2-2-n ov0 p-ublic8 loarg n priat lelst4nt 1,f517f -) *i D V0JLUUWLI WLi FIUUJ.L.L ±LIaLJZ U.ULA jJr±.Vai,00 L1VOa WIIUJWII, .L7VLJJ.L71IU 3.8 Foreign grants, 1965-1970 3.9 Dsbursements of p-ublc oarns, 1965-1970 3.10 Service payments on foreign debt, 1965-1970 3J.1 Foreign asseU arndu llab1ittes 4.1 External public debt outstanding as of December 31, 1970 14.2 Transacti:ons on the external public debt outstanding including undisbursed as of December 31, 1970 5.1 General government current accounts, 1965-1971 5.2 General government capital accounts, 1965-1971 5.3 Central government accounts. 1965-1971 5.14 Central goverment current revenue, 1965-1971 5.5 Gentral government current Pynenditbire. 1965-1971 6.1 Evolut ion of mnnet.ary position, 1965-1970 6.2 Distribution of bank credit by sector, 1964-1970 7.1 Agricultural production, 1960-1970 7.2 Added valune of agric-ltural production, 1960-1970 7.3 Gross fixed capital formation in agriculture, 1960-1970 7.) Maor agricultural innp+tQ 19OAn-197n 7.5 Foreign trade in agricultural products, 1960-1970 7 6 Main features of land tenure (1970) ande and util4zation (iOA.) 8 - Value of selected industrial products, 1966-1970 8.2 Exports of industrial products, 1965-1970 8.3 Gross fixed capital formatio n in indstry, 1960-l970 8.1 Tourism, 1965-1970 8*- High,rwayr ne+T.Twrk, 19 070 8.6 Enrollments in primary education by grade, 1966/67 - 1970/71 8.7 ,nrollments in secondary education by grade, 1966/67 - 1970/71 8.8 UJniversity enrollments by faculty, 1966/67 - 1970/71 9.1 Price indices, 1962-1970 Table 1.1 POPULATION DATA 1956-1971 1956 1966 197 Mid-year population (in 1,000's) / 3,602 4,529 5,223 Crude birth rate (per 1,000 inhabitants) 4 48.0 44.3 42.8 Crude death rate (per 1,000 inhabitants) / 28.0 16.3 14.6 Natural rate of population increase 2/ 2.0 2.3 2.8 (in percent, unadjusted) Age dist:ribution (in percent) 0-14 years old hO49 L6.3 L5.6 15-6h vears old 54-6 50.2 51.o 65 years and older L 3.h 1/ Tunisian nonulation onlv. 2 / Raites refer tn t.he preneqring five-year p-eariodsi __ _-~~ __ X----~----m _ I - - z- - - (ten-year periods in the case of 1956-1966). Source: Ministry of Planning Table 1. 2 POPULATION PROJECTIONS. 1971-1986 (in 1,000's) 1971 1976 1981 / 1986 Series A 5,h13 6,299 7,197 8.6h? Series B 5,L13 6,299 7,197 8,602 Series C 5 LUi 6;256 7.032 8.1hh Series D 5;331 5;910 6jL75 7.238 Series fflH .223 6;073 7.133 8d438 Series Ha 2 5,223 ,988 ___', 7-78 Searies TI3 5,223 5,93 1 6,65 7&1.s7 AVuA GE A,,JAT- UATPIA T f TaPPUL RATE5 OF POPtLTO IOA6-71 19'71 -76 107A- J. I .. . Seeries A 7. 3.1 3 .7 sr- ies B2.9 3.1 3.4 )* I S eri ea C 2.9 2.9 2.3.0 SerLies D 2.3 2.2 2.1 2.3 Series nl 2.8 3.1 3.3 3.4 Series H2 2.8 2.8 2.7 2.6 Series H3 2.8 2.6 2.3 2.0 j./ For Series A, B, C, D, 1980 and 1985. Sources: For Series A, B, C, D: International Demographic Statistics Center, U.S. Bureau of the Census For Series HI, H2, H3, Ministry of Planning Table 1. 3 MALE LABOR FORCE AND EMPWLYMENT 1968-197 (in 1,000's) 1968 1969 19,i'0 .1 )cV I V L - ^le V age tA grou e-4 years 1,22 1,2913] envleu i' I 8 12 enr,oL-L -' -1r, se--o-s~~~~~~~~~~~~~~~~~,. ' disab'led 2)252 emnigrants2 u i Domestic male labor force 1,092 1,090 1,1(0 ZmpDlovment outside agriculture. by sector: Mining 26 27 .'8 Manufacturing 123 127 128 Construction 66 66 66 Energy 9 9 9 Transport 41 42 142 Commerce 71 71 '71 Public Administration 90 95 100 Tourism 13 17 :19 Other Services 64 64 64 Total employment outside agriculture 503 518 527 Source: Ministry of Planning Table 2.1 GS S,S DOMESTIC PRODUCT BY INDUSTRIAL ORIGIN, 1965-1970 (Millions of Dinars; Current Prices) 1W65 1966 1967 1968 1969 1970 Actual Actual Actutal Actual Actual Rev. Est. Agriculture 98.0 74.5 70,.0 86.6 80.6 87.3 IMining 11.11 15.7 23,3 28.2 38.5 42.7 Crude oil 0.7 4.2 12.5 17.0 28.7 31.9 0ther rmining 10.7 11.5 10.8 11.2 59.8 1(.8 Energy, power and water 7.4 8.2 8.8 11.0 12.0 12.7 Manufacturing 59.1 63.7 67,,1 73.0 82.0 8)4.5 Food p:rocessing 28.5 26.3 25,5 29.L 30.1 30.1 Textiles, clothing and leather 10.8 13.8 15,1 14.6 19.2 20.1 Miechanical and electrical 2.0 3.5 4J 4.3 6L.6 '7.4 Construction materials and glass )i.6 5.2 6.1 6.5 7'.3 7.1 Woodworking 4.3 5.1 5.,1 5.3 6t.3 7.0 Chemical 2.4 2.3 2,,7 3.3 3.2 3.1 Petroleum refining 2.3 2.5 2.6 3.1 2.5 2.7 Paper and other manufacturing 14.2 5.0 5,7 6.5 6i.8 '7.0 Construction and public works )10.0 4i .5 42,0 42.0 4c8.5 48.5 Transport and cummunications 37.0 h1 .3 13.,o t44.7 40.6 15.6 Services 116.3 113.2 121 5 129.5 136.8 Iihi . Commerce 66.5 60.0 65.,o 70.0 7Mi.8 77.9 Tourism 4i.8 7.0 9.1 11.1 13.6 15.1 Housing 16.9 17.8 19,0 20.0 20.0 20.0 Other s.ervices 28.1 28.4 28.4 28.4 28.4 28.L Government, wages and salaries 58.8 71.8 77.,8 87.2 93.4 102.L GDP at factor coft IJ28.0 h2q.9 453,5 502.2 532.4 565.1 Indi rect taxes less subsidies 67.9 77.6 77.7 80.4 91i.8 95.9 GDP at market priceS Loc5.9 507.5 53152 582.6 627.2 661.0 Source: Ninistry or Planning Table 2.2 GROSS IX)MESTIC PROIIJCT BY INDUESTRIAL, ORICIN, 1965.-1970 (Ili1lions of Dinars; 1566 prices) 1'965 io66 1`767 1968 1969 1°70 Actual Actual Act Actal ActuaL Rev. Est. Agricu:Lture 102.5 74.5 63.8 82.9 75.5 75.4 Mining 10.1 15.7 21.4 28.4 30.7 34.2 Crude oil 0.7 4.2 12.5 18.1 20.6 23.0 Other mining 9.1 11.5 8.5 10.3 10.1 11.2 &,ergy,, power ard water 7.5 8.2 8.8 S.5 10.5 11.1 Manufacturing 60.8 63.7 65.2 65.0 76.8 77.8 Foocl processing 28.5 26.3 24.6 2i7.9 27.8 26.8 Textiles, clothing and leather 12.0 13.8 114.7 13.1 17.3 18.4 Mechanical and electrical 2.3 3.5 4.1 14.1 6.3 6.8 Construction materials and glass 4.5 5.2 6.1 6.5 6.8 6.6 Woociworking 4.4 5.1 4.' 5. 5.8 6.2 Chernical 2.3 2.3 2.7 3.3 3.2 3.3 Petroleum refining 2.3 2.5 2.6 3.0 3.3 3.5 Paper and otrer manufacturing 4.5 5.0 5.5 6.1 6.3 6.2 Construction and pub:Lic works 40.6 1J1.5 I40.5 40.2 414.1 144.0 Transport and communications 140.5 41.3 41.5 41.7 38.3 41.9 Services 116.2 113.2 118.0 1214.5 127.2 12S.14 Commuerce 65.9 60.0 61.5 6E.0 65.2 66. 0 Tourism 4.8 7.0 9.1 11.1 13.6 15.1 Housing 16.5 17.8 19.0 20.0 20.0 20.0 Other services 28.6 28.4 28.14 28.14 28.4 28.3 Government wages and salaries 63.5 71.8 75.5 82-.7 85.8 93.6 GDP at factor cos-t 4141.7 429.9 434.7 1478.9 1488.9 507.4 Indirect taxes less subsidies 65.5 77.6 75.0 78.3 86.9 87.0 GDP at market prices 511.2 507.5 509.7 5571.2 575.8 594.4 Source: Minis try of Planning Table 2.3 EXPENDITURE ON GR)SS IOMESTIC PRODlJCT, 1 965;-1c70 (Millions of Diriars; Current Prices) 1965 1966 1967 1C68 1569 1970 Actual Actual Actual Actual Actua. Rev. Est. Consumption 428.5 428.3 159.3 483.8 506.7 553., Private 349.2 337.1 359.3 372.2 385.5 422.0 Public 79.3 591.2 100.(0 111.6 121.2 131.4 Gross fixed capital formation 132.3 128.9 126.8 127.3 1144.7 144.° Governrment, b7.5 L8.2 46.1 48.1 51.2 45.7 Public and fixed enterprises 60.4 55.5 47.6 37.7 143.6 4,C.,5 Private enterprises 15.1 16.9 22.8 30.8 :34.2 33.7 Households 9-3 8.3 10.3 10.7 15.7 16.0 Changes in stocks 6.1 3.1 0.11 -9.3 7.1 2.0I Exports 98.7 114.3 120.14 132.4 1145.7 150.0 Goods 62.9 73.5 78.14 82.8 87.0 90.0 Non-factor services 35.8 140.8 42.() 49.6 58.7 60.0 Less: Imports 169.7 167.1 175.14 151.6 177.0 189.3 Goods 123.3 127.0 137.:3 114.2 1:35.0 145.0 Non-factor services 46.h4 o0.1 38.1 37.4 142.0 44.3 &cpenditure on GDP at market prices 495.9 507.5 531.2 582.6 627.2 661.0 Less: Net factor income payments abroad -12.2 -14.2 -20.0 -23.C -23.3 -24.3 GNP at market prices - 3.7 4c?3.3 5'1. 2 558.7 693.9 616.7 Gross national savings 57.C 67.6 57.7 OU.u i1o.6 Source: Ministry of Planning Table 2.4L GROhSS INVESTMENT AND ITS FINANCGNG15 -1970 (Millions of Dinars; current prices) 19S5 1966 1967' 19,68 196d9 1970 Actual Actual Actual Actual Actual. Rev . Es-t. Gross fixed capital formition 132.3 128.9 126.8 127'.3 141.7 1L4..9 of which by sectors: Agriculture 27.6 25.6 24.1 25.4 2 7.6 2'5.6 Mining 20.2 20.7 16.1 16.2 12.2 lh .6 EnerEDr, power ancd water 7.8 6.2 10.5 6.4 6.5 9.7 Manufacturing 26.7 12.6 13.0 11.5 1o7.0 15.4 Transport ancl cormunications 7.5 16.6 11.6 14. 3 21.0 20.1 Housing 13.5 10.2 11.7 12.7 19.1 20.5 Services 7.7 12.3 15.4 16.5 18.2 18.9 Infrastructure 21.3 24.7 24.4 24.3 23.1 20.1 Changes in stocks 6.1 3.1 0.1 -9.3 j.l 2.0 Gross investment 138.4 132.0 126.9 118.0 151.8 1465.9 Financine,: National savings 57.1 67.6 57.7 80.0 101.6 88.9 Governmernt 20.8 21.5 15.3 3.8 25.6 22 .3 Public enterprises 21.8 21.6 25.4 34.9 37.3 38.5 Others 14.5 24.5 17.0 41.3 38.7 28.1 External resources 77.6 56.0 62.7 44.1 57.7 65t.o Publi c 48.6 34,o 52.4 44.1 57.8 60.0 Private h2.1 37.7 33.6 25.4 26.6 3(.5 Less- repayments -13.1 -15.7 -23.3 -25.4 -26.7 -25.5 Foreign assets (net) 78. -6.1 84 6_ . Total financing 138.4 132.0 126.9 118.0 15],.8 146.9 Source: Ministry of Planning Table 3.1 BALANCE OF PAYMENTS, 1565-1970 (Millions of Dinars) 1965 1966 1967 1968 1969 1970 A r tn iaI Actual Actual Actual Actual Rev.Est. ciJTRRPT ArCOTTNT Receipts, total. 105.7 122.7 133.2 146.4 164.0 171.4 Merchindise, f.o.b. 62.9 73.5 781 4 2.8 87.0 90.0 Non-factor services 35.8 40.8 42.0 149.6 58.7 60.0 Factor se~.ri.ces 14.5 5.5 6.6 8.6 13.5 15.5 Transfers 2.5 2 . 6.2 5.4 4.8 5.' Payments, total 187.0 187.1 202.4 184.4 214.2 229.4 Merchandise, f.o.b. 123.3 127.0 137.3 114.2 135.0 145.0 Non-factor services 46.4 40.1 38.1 37.4 42.0 44.3 Factor servAC-,e 16.7 10 7 2A A 3A.8 Transfers o.6 0.3 0.4 0.3 0.14 0.3 Current .ccount deficit (-) -81.3 -64.4 -69.2 -38.0 -50.2 -58.0 B--anc Qf '.ra.. I. 1 c te _ . -. -58 L.$ r r n Non-factor services, net -10.6 0.7 3.9 12.2 16.7 15.7 xciL;WI- 5exVLues, lit], -Ic- c -14 . c -Clv.v -J/ ' Transfers, net 1.9 2.6 5.8 5.1 4.4 5.6 CAPITAL ACCOUNT 77.6 56.o 62.7 1.1 57.7 65.o PublIc capital, net 146.1 31.0 148.14 37.7 50.7 50.8 Grants 13.1 8.1 10.6 14.4 22.7 21.0 Loans 35.5 25.9 141.8 29.7 35.1 36.0 Less: r.ep_aynents -2.5 -3.0 -4.0 -6.1 -7.1 -9.2 Private capital, net 31.5 25.0 14.3 6.4 7.0 IL14.2 Short-term credits, net -0.2 4.5 0.2 -8.1 -2.1 - Direct investment 16.5 15.9 9.6 10.7 10.5 10.0 Supplierst credits i8.9 10.2 7.7 9.3 12.6 114.5 Other import and financial Credits 6.9 7.1 16.1 13.5 5.6 6.0 Less: repayments -10.6 -12.7 -19.3 -19.0 -19.6 -16.3 Errors and omissions - -0.2 0.5 - - - Changes in reserves (increase = -) 3.7 8.6 6.0 -6.1 -7.5 -7.0 Source. Ministry of Planning Table 3.2 VALuE OF ErORTSY, i565-197O (MIl1lions Uf dinars) 1965 1 C66 1567 1968 1969 1570 Actual Actual Actual Actual Actual Rev. Est. Cereals C.3 4 13 - - - 0.3 Citrus fruits 2.6 2.9 3.3 1.6 3.6 2.5 Dates 0.3 0.9 0.6 o.6 1.0 o.6 Almonds 1.1 1.3 1.1 1.7 0.7 1.6 Other fruits 0.4 0.2 0.3 0.2 0.2 0.14 Live ani",ls and meat 1. 1.6 2.2 2.0 17 26 Fish and crustaceans 0.6 0.5 0.8 o.6 0.6 1.0 Olive oil 13.5 13,4 8,o l1.9 10;5 8.2 Wine and spirits 2.8 4.4 5.3 3.6 3.5 2.7 Canned vegetables 1.6 1.4 1.8 1.7 1.1 1.3 Canned fraits 0.8 0.9 0.7 0.5 0.7 0.8 Canned fish 0.3 0.5 0.3 0.2 0.3 0.3 Sub-total 25-7 32.3 2h.14 24.6 23.9 22.3 Rock phosphate 11.4 12.5 12.5 12.2 9.2 10,0 Iron ore 3.1 2.c 2.4 2.0 1.7 '1.5 Lead and related products 2.4 1.8 1.4 1.6 2.2 3.3 Salt and other minerals 0.8 0.5 1.0 o.6 0.8 0.7 Crude oil - 4.2 10.5 14.1 21.2 23.5 Superphosphates 08.6 5.2 11.2 lG.O 8.2 8.5 Hyperphosphates 1.1 o.6 0.1 0.2 0.5 0.3 mIrn UdJ S - - O . L l.8 2 3.3 Pig Iron - 0.3 1.5 0.6 0.6 0.5 Pulp 1.1 1.8 1.3 1.7 1.9 1.' Sub-total 28.5 30.2 42.8 144.o8 48.3 53.5 Other exports 8.7 11.0 11.2 13. 114.8 114.2 Total exports 62.9 73.5 78.L4 82.8 87.0 90.0 Tabl]e 3.3 VOLUME OF' EXPORTS OF SELECTED COHI0D:rTIES, 1 E 65-1 970 (Thousand of' meltric tons) 1 965 1966 196 7 1968 1965 1970 Actual A Aca- Actua Actual Rev . Est,. Cereals 9 113 - - 3 Citrus fruits 146 414 149 26 146 35 Dates 2 5 3 3 14 14 Almonds 2 5 2 3 1 3 Other fraits 2 3 3 2 3 4 Animals and meat 6 4 5 4 5 Fish ard crustaceans 1 1 1 1 1 1 Olive oil 46 411 22 33 3C0 23 Wine aid spiritss 71 71 108 68 68 147 Canned vegetables 7 7 10 9 6 Canned fruits 5 6 7 5 7 9 Canned fish 1 1 1 1 1 1 Rock. phosphate 2,261 3,:3214 2,300 2,1422 1,877 2,200 Iron. ore 910 876 775 653 568 500 Leadi 114 13 12 13 1; 20 Salt 378 276 278 323 265 175 Crude oil - 16 1,566 2,135 2,86Li 3,200 Superphosphates 257 169 3B2 3147 302 370 Hyperphosphates - - _ 22 57' 30 Iron. bars 10 142 50 Pig iron. 51 27 31 20 Pulp, 12 20 20 18 21 20 Source: Miriistiy of Plannirn Table 3.b VALUE OF IMPORTS, 1965-1970 (Millions of Dinars) 1965 i'66 1967 1968 1'65 1570 Actual Actual Actual Actual Actual Rev. Est. Canital goods Lo.6 33.9 29.6 30.h 30.5 36.5 Tntermediate nroducts and raw materials 42.6 50.3 52.5 43.7 52.4 56.5 Sulfur 1.4 3.0 3.3 3.7 3.0 2.3 Soybeann oil 2.0 3In l,.o 3.5 3 7 6.5 Tobacco 0.5 o.8 0.7 0.9 1.6 o.6 Raw cotton 0.8 0.8 1.3 1.5 0.n 1.7 Cotton thread 2.7 2.8 2.5 1.9 3.7 3.0 Artificial fibres 0.7 0.5 0.6 0.6 1.0 1.3 Iron and steel bars 0.8 3.2 0.8 0.3 - Iron and steel tubes 1.9 2.3 1.6 0.9 2.5 1.2 Sheets and profiles 2.8 2.1 3.1 1.6 2.7 4.5 w.!ire 0 . n 0. n A n )l n 0, Others 28.8 30.6 34.2 28.2 32.9 35.o Fuels 5.5 6.7 )4.0 1.8 5.0 5.0 Crude oll 2.0 - 3.1 Coke 0.3 1.2 1.5 1.3 1.6 2.0 /-, ~~ 1- n n ) ~~. r' r E uons-rer goods 2.0 20.8 21.6 1. . I2.U Cerea'ls -LI, I. 17. 120L'1. Wheat 7 7 13.1 1O.9 Barley 1.3 0.7 2.7 0.6 1.7 0.7 Other o.6 o.6 1.6 0.5 - 0.5 Beverages and other foodstuffs 9.3 11.3 12.0 11.5 12.7 13.0 Other imnports 5.8 5.h 9.0 6.4 5.9 6.5 Total imports, c.i.f. 13b.o 136.6 146.1 i23.)4 1)45.0 155.5 Less: Freight & insurance 11.5 9.6 8.8 9.2 10.0 10.5 Total importe, f.o.b. 123.3 127.0 137.3 114.2 135.0 145.0 Source: Ministry of Planning Ta,ble 3.5 DIRE,CTION OF, TRJLDE, 196!';-19710 (Millions oI' Dinars) 1965 .1966 _ 1967 1L968 1L969 _:1970 M-15-O-FT88751-50iR -8 ERPOE--IP0F- MP----FI;8 Lrx;8 Dnpor1 Ei orts Enpor 8 !orFm ior s EEC 30.9 70. El L1. '; 68.L, o40.9 66.18 38.2 61. 6 47 .7 733.6 544.8 87.3 France 19.6 50.6 25.5 45.], 22.C 43.5 19.2 38.0 23.2 46.2 23.4 55.6 Fed. Rep. of Gemany 2.1 6.59 5.1 7.7 7.5 10.'5 9.1 10.0 12.1 10.5 9.3 13.6 Italy 7.6 8. 8 9.5 10.7 10.5 8.5 8.13 11.1 11.'7 12.5 19.8 11.6 Benelux: 1.6, 4.5; 1.4 4.59 o.9 14.:3 1.] 2. 5 0.7 4.14 2.3 6.5 Algeria, M'orocco 2.3 1.6 1.7 1.41 o.8 2.5 1.7 0.65 2.5 1.5 4.7 1.5 Libya 1.6 2.3 3.6 0.14 4. 7 0 6.5 0.1 6.14 1.2 8.9 0 Other countries with 18.5' 42.1 L4.5 42.5 19.0 49.'7 18.,9 39.0 17.5 48.1 16.3 58.1 multilateral trade\ US 1.0 20.'7 1.() 21.5; 2.2 314.8 1.5 23.3 0.8 28.2 0.9 27.1 UK 3.3 5.i . 3.2 3. 29; 2.5 3.13 4.'1 2.7 4.1 2.5 4.6 Others l4.2' 15.8 10.3 17.:L 14.3 12.5 14.4 11.6 14.0 15.8 12.9 26.14 Countries with bilateral 9. 6 12.:3 12.14 18.5 13.0 18.1 17.5 13.2 12.9 15.4 11.1 13.5 payments agreements TOTAL 62.'3 1L29.L 73.'7 131.2 78.4 :137.1 82.8 114.5 87.0 139.8 95.8 160.,4 Source: Foreign Trade Statistics.. Figures are slightly tlifferent from national accounts estimates. Table 3.6 BREAKDOWN' OF SERVICES RECEIPTS AND PAP)IENTS, 1965-1970 (Millions of Dinars) 1965 1966 1967 1968 1969 197'0 A;ztual Aual Actual ALtUa Actual Rev.st,, RECEI PTS Non-factor services 35.8 40.8 42.o 49.6 58.7 60,.0 Tourism and travel 10.1 14.6 17.7 22.2 26.1 29.0 Transportation & insurance 8.9 8.4 8.8 10.2 11.5 12.0 Oil pipeline receipts 5.2 5.1 4.9 4.5 7.7 14,9 Government, nie. 9.4 10.2 8.2 9.3 9.7 10.4 Others 2.2 2.5 2.4 3.4 3.7 3 ,7 Factor services 14.5 5.5 6.6 8.6 13.5 15,5 Public worlcs - - - 0.2 0.9 1.0 Investment income 0.7 o.8 0.7 0.7 1.2 1. 5 Wages and salaries 3.8 14.7 5.9 7.7 11.4 13.0 PAYTIENTS Non-factor services 146.14 40.1 38.1 37-.4 L2.0 414,3 Tourism and travel 6.7 6.8 8.1 8.o 10.14 11,,0 Transportation & insurance 22.0 19.5 21.2 21.0 2'4-9 26,,5 Govermnent, nie. 3.0 4.5 2.6 3.4 3.3 3,14 Others 14.7 9.3 6.2 5.0 3.4 3.4 Factor services 16.7 19.7 26.6 32.5 36.8 39, 8 Interest payments 14 .4 6.1 8.0 8.9 9.6 11.0 Other investment income 0.7 o.6 1.0 1.7 2.7 3.5 Technical assistance 5.6 7.0 8.5 8.5 10.6 10.7 Other .wages and salaries 4.6 5.4 6.2 6.5 6.o 6,,5 Public virks and others 1.14 o.6 2.9 6.9 7.9 8.1 Source: Ministr,y of Planning Table 3.7 BR EA:,) (1O(DF PUBLIC LOA.S AND PRIVATE INVES¶ES NT, 1965-1970 (Millionis ol Dinars) 1965 1966 1967 1o68 1969 1.970 Actual Actual Actual Actual Actual Rev. Est. Public loans Government projects 5.5 7.3 7.7 9.3 7.4 6.1 Enterprises Iro,ects 10.8 9.1 8.0 8.2 11.2 1.2.5 Non-proJect loans 13.5 4.4 15.8 4.5 7.4 9.2 PL480 repayable in dinars 5.7 4.6 6.4 3.7 3.1 0.2 PL480 repayable in dollars - - 3.9 4.0 6.o 4.9 Special drawing rig'hts - - 3.1 Total 35.5 25.9 41.8 29.7 35.1 36.0 Pr.ivate in-vestment Direct investment 3.1 2.8 2.1 0.5 4.3 2.9 Petroleum r.esearch 13.4 13.1 7.5 10.2 6.2 7.1 Suppliers' credits 18.9 10.2 7.7 9.3 12.6 1L4.5 Other imTport credits - 3.9 11.3 2.8 3.3 5.6 Financial credits 6.9 3.2 4.8 10.7 2,,3 0.4 Total 142-3 33.2 33.14 33.5 28,.7 30.5 Source: Ministry of Planning Table 3.8 FORBiGN GRANTS,1965-1970 (Millions of Dinars) 1965 1966 1967 1968 1969 1970 Actual Actual Actual Actual Actual. Rev. E.st. Foodstuffs PL 480 title II 3.0 0.1 0.h 1.7 3.6 1.,7 World Food ]Pr gram - - - 0.2 1.2 3.8 Fralce - - - 0.9 0.9 Others - - - 1.2 2.8 4,.3 Equipment U.S.A. 0.7 0,3 0.1 0.3 0.5 0.L4 Other countries and international organizations 1.0 0.2 1.6 2.0 1.5 1.6 Technical assistamne 6.7 6.6 8.1 8.,5 10.6 10.7 Assistance in ]kind 1.7 0.9 0.4 0.,5 1.6 o.6 TOTAL 13.1 8.1 10.6 14-.4 22.7 24.0 Source: Ministry of P]Lanning Ta'ble 3.9 DISBURSEMENTS OF PUBLIC LOANS, 15'65-1,970 (Millions of Dinars) 1965 1966 15'67 1968 1i969 19710 Actual Actu-al AcUaE1 ILctuiL A:c-Fua -RevF. Est. Europe Fed. Rep. of Germany 4.1 1.0 1.1 3.:3 3.1 .2 France 304 O. 8 C).9 1.L ,3.8 5.9 ItaLy 0.3 0.0 8.b - 2.1 1.0 Netherlands - 0.9 C).3 - 03.3' 0.8 Demznark 0.1 0.4L 0.1 0.1 0.1 0.5 Sweden 0.1 0.6 0.5 0.3 0.5 1.0 North America Canada - - 0.5 0.3 -0.7 U.S.A. 20I.7 14.8 20.8 15.6 18.2 11.4 Kuwait 2.3 1.2 3.1 2.9 0.5 0.6 Eastern Countries 1.9 3.6 3.9 1.3 o.6 0.2 International Organizations 'Wor'ld Bank Group 1.1 2,', 2.6 4.6 5.5 6.o African Development Bark - - - 0.1 0.5 O_hers 1-5 -- - 0.1 TOTAL 3'5.5 25.9 4'.8 29.7 35.1 32,9 V: 1/ Excluding SDR Source: Ministry of FPlanrning Table 3 aCd S]3VICE PAYME3S ON FDREIGN DET, 1965-1970 (Millions of Dina:rs) 1970 1965 1966 1967 19o68 19659 Rev. Est. Service paymnts on loans to the Goverrnment 4.0 5.1 12.C 12.3 132.2 15).2 Interest payments 1.4 1.7 3.0 3. 3 4.2 5).9 On debt, of public origin (1.2) (1.5) (2.1) (2.6) (3.0) (3.5) On debt; of private origin (0.2) (0.2) (0.59) (0.7') (1.2) (2.h4) Am,ortization payments 2.6 3.- 9.0 5.0 9.0 9. 3 On debt, of public origin (1.5) (1.8) (2.L~) (4. t) (4.4) (6.2) On debt; of private origin (1.1) (1.6) (6.6) (5.(0) (L4.6) (3.1) Service yments on 'Loans to enterprises 13.5 15.5 18.2 22. 0 23.1 21.3 Interest paymexnts 3.0 C 4L4 5.0 5.6 5.4 '5.1 On debt; of pub:Lic orig:in (o.6) (1.3) (1 .4) (105) (2.1) (2.h4) On debt; of private origin (2. L) (3.1) (3.6) (4.-1) (3.3) (2 -7) Amortizat,ion paynments 10.'5 11.1 13.2 16.14 17.7 1 6.2 On debt of pub:Lic origin (1 .0) (1 .2) (1 .6) ( 2.lo) (2.'7) (.3.0) On debt of private origin (9.5) (9.>9) (O1 .6) (1L.() (15.0) (13.2) I:ndemnization of faner s - 1.2 1.1 TOTAI DE3T S;ERVICE PAYMBTS 17.5 21.8 31. 3 34.3 36.3 36 .5 On debt of pub:lic origin L. 3 5.8 7 .5 10.5 12.2 1 5.1 On debt of private origin 13.2 16.C) 23.8 23.8 2l.1 21.4 S)our-ce: Minist Zr of Planming lable 3. 11 FOREIGN ASSETS AND LIA13ILITIES (Millions of Dinar s) 2bd of ... 1S 6 j,6 967 1968 1965 15c70 Central Bank Foreign Assets 20.8 16.3 21.3 21.1 21.6 32.1 'd2.0 2.0 2.2 2.2 2.3 2. Convertible foreign exchange 14.5 10.9 18.0 16.4 17.1 25.9 Payment agreements 1.8 1.7 0.3 2.5 2.2 0.8 Crossed loans 2.5 1.7 0.8 - - - SDR's - - - - 3.1 Foreign liabi:Lities 18.0 20.7 22.0 i9.4 19.1 20.3 IMF net position 7.4 10.1 10.8 ".1 7.0 7.0 Pavment aoreements 2.5 2.1 3.1 1.1 0.7 2.L Bank of Fiance L.6 2.9 L.6 3.7 4.3 3.3 Short tenn currency deposits o.6 3.0 2.0 1.8 2.1 1.1 Crossed loans 2.5 1.7 O.8 - - - Other short term 0.4 0.9 0.7 3.7 5.0 6.5 Net assets 2.8 -1.4J -0.7 1.7 2.5 11.8 Commercial banIck Foreign assets 2.3 4.3 5.1 3.4 3.0 4.7 Foreign liabilities 1 i. 4.8 25J. 20.0 13.0 14.2 Pr - vate .coints 5 7.8 C2 lii, 11 c 13 2 Foreign banks 6.4 7.0 16.2 8.6 1.1 1.0 Net assets -9.5 -10.5 -20.3 -16.6 -10.C -,.5 ICTAL ,K1 ASSETS -6.7 -l *9 -21.0 - 1.9 -7 . 2 . Ofi -IiW1 tIolal o reigi-i assets 23.1 u.O £U.', 4.6 o,l,- )o.u Of which total foreign liabilities 2';.8 35.5 1i7.4 39-4 32.1 5 Source: Ministry of Planning 08/03'71 TABLE 4.1 TUNISIA EXTERNAL PUBLIC DEBT OUTSTANDING AS OF DECEMBER 31P1970 DEBT REPAYABLE IN FORElGN CURRENCY IN THOUSANDS OF UsSs DOLLARS Page I DEBT OUTSTANDING DECEMBIER 31*197 CREDITOR COUNTRY UNDISes wPE OF CenEDIvOR DISBURSED AURSED TOTAL 99p I., E £9A 16 " 1 7f BELGlUM 521 - 821 FRANCE 36,777 2 5.29 62,067 GERMANY (FEODREP.OF) 4.*283 118 4.401 ITALY 4.357 370 4#72? SWEDEN 3P215 1.779 4.*99A SWITZERLANO 370 a 37C UNITED KINU(OM - 1 - 41 SPAIN 3, 934 1J134 5.06t ALGERIA 500 * 50t USA 4.162 - 4.162 58,631 28.696 87,32, FRANCE 8.044 oo9;16.941 ITALY 119155 a 5T.19R NETHERLANDb 5#414 1.051s 6.495 UNITED KINGUIJM 4.277 a 4.27? U S A 2 23o - PRIVATE OANKS ,77868 9*978 87.84d FRANCE 1J973 ' PUBLICLY ISrSUELD nU3CND u;9U ' !973 FRANCE 54 54 PRIVATELY PLACED BONDS 54 m 54 FR A N CE 5E892 NATIO)NALIZATION 5.892 ' 5,a9a IBRO 26.270 42.362 68.632 ADA 16.220 23J743 39.963 AFRICAN OEv.BANK 1J296 1J454 2#75U LOANS FROM INTLs ORGANIZATIONS 43.786 67.559 111345 AUSTNIA 2.*574 a 2J574 DENMARK 3P154 1J939 5J93 GERANCE 65.830 26o580 92p41U GERMANY (FLDoNEP.Ut) 31.633 39J594 11.227 N rAL Y 22.240 a 22P24U NETHERLANDS 1.322 1J053 2J375 SW I DEN 4.786 15.505 2Uv2V1 YUGOSLAVIA 1#506 1I506 08/03/71 TABLE ).1 TUNISIA EXTERNAL PUBLiC DEBT OUTSTANUDIN AS oF DECEMBER 3J*1Y0 DEBT REPAYABLE IN FOREiGN CURRENCT ;Nm mflUUSANDS ur UsSv DOLLARS Page z DEBT OUhTSTANDINGf flIrIUrDM2 .O7 __ _ * __, _, ** f*,, _ *_ ,. - , ., . CREnITnlR COUNTR UN!S' TYPE OF CREOITOR DISBURSED BURSED TOTAL CZECHOSLOVAKIA 850 850 GERMANY (EAST) b62 ' AA2 HUNGARY 613 , 673 POLAND 182 * 187 USSR 11s0J88 1,260 12,304 CANAOA 2,034 4#498 6*532 USA 132O704 28*901 161*605 KUWAIT 35,529 9*786 45,315 LOANS FROM GOVERNMENTS 316,96? 129*116 446#083 UNKNOWN 168866 1up9i9 21,785 UNCLASSIFIEO 16D866 10D919 210785 TOTAL EXTERNAL PUBLIC DEBT 1) 522,037 246P268 768,305 NOTEI DEBT WITH A MATURITY OF OVER ONE YEAR 1) INCLUDES PRINCIPAL IN ARREARSI AMOUNT FRANCE 2;8 0 GERMANY (FLU*REP6OF) 19 LOANS FRnm anUyRNmNTS 2!m9 TOTAL 2#849 EconomLic arId Socia. Data DLvision Economic Program Department August 3, 1971 rZLug,I. ta -.J i .-L. TABLE 1h.2 TUNISIA 08/03/71 EXTERNAL P'UBLIC OEBI AS OF DECEMBER 31.,1970 DEBT REPAYAIBLE IN FOREIGN CURREN4CY IN TNOUSANDS OF U.S. DOLLARS Page 3 TOTAL DEBT O3UTSTANDINIG TRANSACTIONS DURING PERIOD BEGINNING OF PERIOD C ANCEL'' LAt I ONSo DISBURSIEO INCLUDING COMMI T DISBURSE'I SERVICE PAYMENTS ADJUST° YEAR ONLY UNDISBURSED INENI'S IMENirS PRINCIPAL IITERIEST TOTAL MENTS, (1) (2) (3) ( 4) (5) (6I (C1) (8I) 1960 282,52? 36'5.251 66.1,52 63,360 21.501 IeI11 32Jo312 1, 120 1967 324Co051 408. 782 18 1.062 127JoO26 365,370 11.3I39 47#709 ^6L2,8I35 1968 406*069 541.1,39 135.773 90#250 46.50C4 13.791 60#295 "I55,06 1969 450. 764 624.902 1:28.026 85j.464 441123 7 15.75 59J,412 12.8i48 197( 480.7157 6915,842 120.425 82,,788 44 ,88l9 17.312 62j,201 "S5 9122 1971 472,9(01 673, 543 6S 9.05 3 45,0 9 3I9 155# 5 60 61.j500 489. 31O6 1972 49T73150 630,211 - 36 j234 48I*4312 15.146 63J,578 2.3170 1973 487,.523 584J149 ' 281.105 44.0di6 14.107 58j.173 1*Io85 1974 473.14? 541J66l8 - 240117 39.81 6 13.716 53.o533 1 1.36 1975 459.2183 503.68.t9 17°J543 315. 296 12,tl80 486.176 1976 441J530 468.3 352 1OJP291 31.4El6 12#046 431.533 3 1977 420.335 436.#906 - 7J307 30.417 11,.110 41J.726 1978 397.225 4015.4El9 51.263 29.,5El9 10.to86 40 j275 1979 372,899 3765.90U 3J.342 21385318 10J256 38ji794 1980 347,704 348.363d3 - 658, 2 6,424 9..370 35.1T94 1981 32 1.939 321 9I 939 - 25.o54i9 d,427 33.976, 1982 296.390 296.9 390 2 21.878 7'5 70 29 449 9 198a 274.5 I2 274;512 - 1 7.8El8 6,863 24.I750 a 1Y84 256P624 256 S624 1 - 16.1531 6.231 22.761 a 1985 240.094 240.U094 - 14-,69 56639 20a312 ,'ee no'te lit end of table. TABLE 4.:2 TUNISIA 0)8/03/7L EilTERNAL PU13LIC DEBT iAS OF DECEIMBER 31#1970 DEBT RIEPAY'ABLE IN FOREIGN CURRENCY IN THOUSiANDS OIF U.S. DOLLARS SUPPILIEtS Page 4 ALGER I A DEBT OUTSTANDING TRANSACTIONS DURING PERIOD BEGINNING OF PIERICID CANCEL0 -. ~~~~~~~~~~LATICINSs DISBURSED, INCLUDING CO04MIT' DISBURSE . SERVICE. 1PiAYENTS AIDJUSITs EAR IONLYf UNDI SBURSED MJ.NTS MENTS PRINCIPAL INTEREST TOTAL MENTS C Ill (2) (3) (4) 5 (6) (7C) cal 164 tioo 600 600 0 70 60CI 600 - 1-0 l 1.00 71 50(1 500 a 88 * 88 72 412 jl2 - 7 * ?77 73 335 335, - 68 74 267 267' - 60 * 60 - 75 201' 207' 53 * 76 ISli I4 . , 4, , 46 77 10tl 10 ' ' 41 - 78 67 6F - m 3d - 36 6 79 31 31 ' 3i - 31 TABLE L .42 TUNISIA C8/03/7:L EXTERNAL PUBL.IC DEBT AS OF DECEMIBER 3119710 DEBT REF'AYABLE IN FOREIGN CURRENCY IN THOUSANDS OF U.S. DOLLARS Page 5 SUPPL I ERSi AUSTR IA DIEBT OUTSTAINDING TRANSACTIONS DURING PERIOD BEGINNING OF PERIOD CANCEL- LA TIONSp DISBURSED INCLUDING COMMlIT- DISBURSE- SERVICE PAYMENTS ADJUST YEAR OINLY UNDISBURSED MENITS MENTS PRINCIPAL INTEREST TOTAL OIENTS Cl) (2) (31) (4) (5) (61) (7) Ca) 1966 69 69 6 - 69 1 70 196- - 58 58 a - - 196ti 58 5B 106 106 12 3 15 1969 152 152 23 6 29 1970 :130 1 30 99 99 53 7 60 1971 :17e 176 - a 74 10 84 5 1972 107 1,07 a a 74 5 79 1973 33 33 - a 22 2 24 - 1974 11 11 - ' 11 - 1-1 - TABLE 4.2 TUNISIA 08/03/71 EXTERNAL PUBLIC DEtiT AS OIF DECEMBER 31JI197O DEBT REPAYABLE IN FOREIGN CURRENCY IN THOUSAkNDS OF U&S. DOLLARS Page 6 SUPPLIER S tlELG I UM DEBT OUT'STANDING TRAlNSACTIIDNS DURING PERIOCI BEGINNINGI OF PERIOI) CANCELO LATI7NS* DISBURSED INCLUDING COMmIT"e DISBURSE" SERVICE PAYKNENTS ADJUSir' YEAR ONLY UNDISBURSED MENTS MENTS PRINCIPAL INTEREST TOTAL MENrS (1) (2) (3) (4) (5) Ci) (7) () 1966 279 279 a s 135 5 140 1967 144 '144 1 Ol9 19019 '120 4 12 4 01 1968 1'042 1#042 * 4 35 7 42 01 1969 1) 0 6 Io 006 as ' 6? 54 121 1 1970 9040 940 * 118 69 187 01 1971 8321 821 * 52 'I 655 4 1972 173 173 * - 44 A l5 0 197i 130 .130 * - 19 *" 119 ml 1974 111 :111 19 ' 119 1975 93 93 US 0 19 19 * 1976 74 74 U* 19 '9 N9 1977 56 56 * 19 119 ml 1978 37 37 * 0 19 * 19 m' 1979 19 19 * 19 I 9 TAtALJ L.2 fUNI.SA EX1ULtNAL 'UtiJLIC OLdl A5 Ut DECLMtIR 3119?1O ULSuT REf'AYAILE IN FORL IGN CJHIRE:NCY IN rhLIUSANDS Ot U6,. DULLAMS il1gt- / SUPPL I I H6 DL'T OUTSrANDING THANSACTIUNS UHUINU PERIOD UEUIINNINU UE PLN IUU CAP1CEL' LAT1'ONS* U1SI9UHSIED INCLUDINi LUMMIT DISBUHRSE- SIEVICL PAYMENTrS ADJUST- Y EAN ONLY UNOZSIUKStLU MENTr MLNTS I"R'INCIPAL 1NTERCST TOTAL PIENTS (l) (2) (A) (4) (5) (6) (7) (6) 1916e. 2141 241 - - 44 - 64 2 1v6( Ih9 IeV - - 5- 4 I0 196U 1U)' 1Ub - - 4? - 4'd * VOs9 I - - 4 - 4j 9v,u IV IV - ' 19 ' lv 1~~~ ~~ 9. 08/0)3/7 1 TABLE 4.2 TUNISIA EXTrERNAL PUBILIC DEST AS OF DECEMBER 31#1970 DIEST REPAYABLE IN FOREIGIN CURRIENCY' IN THOUSANDS OF U&S DIOLLARS SUPPLIERS Pa5ge 8 FRANCE DIEBT OUJTSTANDIN1G TRANSACTIONS DURING PEFtIOD BEGINNING OF PEIRIOD CANCEL'0 LAT IONSP DISBURSED INCLIDILNIG COMI41T-' D1SIBURSE:0 SERVICE PAY'MENTS AOJUSTO YIEAR OINLY 'UNDISI3URSED MENTS MENTS PRIINCIFPAL INTEREST TOTAL 1MENTS (1L) C,2) (3}) (4) (5) (6S) CT) (8) 1 9,66 35.6528 36.061 8. 046 6 . 1 74 4.807 2, 081 6.888 2 19167 36.993 39'2 98 140231 1 4.90f1 4,9il65 1, 940 65.905 '91 1968 46P1M1 48A473 28i'60b IBP626 7, I78 2jp521 9.6919 11- 196 9 47J5q8 69. l92 15JpI612' 160615 8.634 2j,082' 10I716 -7',616 19?U 40, 4 16 69, 253 2j131 .5.61I1 9, 336 1J877' 1,IJ213 19 1PO1 32,1L95 J41,1945 -. I?.*so 8,8l 78 Io995, 10.872 020j.122 1972 33*06?" 33.067 m w 8, 950 1I.884 1) ,8315 2j.370 1973 26.487 26p48? ? 8#586 1I'458l 100*04 1J,585 1974 19,487 19.4I8? .17,8 - 91 1 j,054 I8, 945 lj836 1975 13.4432 13'li32 4 ' 4,.373 708t1 5.0el2 2 1976 9*059 9.059 2- 0 23.15 5ou 2.816 1917 6,743 6.1'43 - 1.9 31 3791 2J31O0 191D 48 13 4p 813 ' 0 172 270 I7C142 1919 3.3141 3P.341 , 1.322 184 ,5C16 198Bo 2.019 2.019 0 1.063 107' 'I1di19 198l1 956 956 9556 4Z2 9917 TABLE L.2 TUNISIA 08/03/71 EXTERNAL PUBLIC DEtiT AS Of DEICEMIBER 31#1970 DEBTf REPAYABLE INI FOREIG2N CURRENCY IN THOUSANDS OF' U.Se DOLLARS SUPPLIERS g GERMANY (FEDeREPeOf) DEBT OUTSTAiNDING TRANSACTIONS DUFIING PEIRIOtI BEGINNING OF PERIOD CANCEL0 LAT IONS. OISBURSED INCLUDING COMMIT" DISBURSEM SERVICE PAYMENTS ADJUST1s 1FEAR tlNLY UNOtSBURSED MENTS MENTS PRINCIPAL INTEREST TOTAL MENTS (1) (2) (3) C4) (5) (6) (C) (a) 1 9b66 893 2,763 3# 1 39 2.370 666 25 691 - 1967 2.597 5#236 1.504 3,340 1.131 213 t.344 3 1 968 4.808 5$.612 1 751L 1.I18 1006 199o 10 5 25 1969 4.978 6#365 143 986 1307 231s 1*545 5865 197 0 5.11% 5.787 is 5155 1.390 261) 1.6150 4 1 971 4.283 4.401 4 12 2 875 25'5 1.130 13? 1$17Z2 3.663 3.663 OD m 761 198 9159 1973 2.902 2.902 go 655 156 811 a 1974 2.i247 2#247 is 655 1 1 8 773 1 57 5 1592 1 , 5 9 2 60 3 81 6 i8 3 1976 989 989 s 263 51) 313 1 s77 726 726 as 182 3r 219 15978 545 545 182 27 209 Iso7 3613 363 5 - 182 1i 199 1980 182 182 1 a 182 7 189 08/03/71L TiABLE 4.2 TUNI'iIA EXTERNAL PUBLIC OEBT AS OF DECEMBEft 31#1970 DEBT RIEPAlYABLE IN FOREIGN CURRENCY IN THOUSANDS OF UI.S DOLLARS Palge 10 S,UPPLIERS ITALY DEBT OUTSTANDING TRANSACTIONS DURING PE.RIOD BEGINNING OF PIERIOD CANCEL- LATIONS. DISBURSECI INCILUDING COI4MI' DISBURSE- SERVICIE PAiYMENTS ADJUST' YEAR ONL'Y UNUISBURSEO MEINTS MIENTS PRINCIPAL INTEREST TOTAL M4ENTS c l) (2) 1(3) ( 4)t (5) (6) cl)r (6 ) 196b 10035 12ip885 4J525 5,01 38 3,O082 2.949 69031 3 1 1967 12. 08SO 14i' 327 96i1 10 18 3*,402! 478 3#880 a8 1968 9.859 11S,878 36 1.440 4,,076 459 4,535 5 1969 7o22 3 7,B838 301 458 1,o624 31'6 2.000 1970 60055 6 j513 - 88 1Jo785 3594 2.179 oI 1971 4,306 4,676 .3O0 1, 6041 221 1.825 -1I64 1972 2.9510 2,959 95' 991 1 it4 1#135 1973 1.969 1o969 - 82.3 454 9R07 7 1974 11461 11*46 - - 771 ;35 1506 1975 374 371 - 187I :21 208 1976 18 a 187 - - 187 10 197 - 08/03/71 TABLE 4.2 TUNISIA EXTERNAL PUBLIC DEBlT AS OF DECEMBER 31.j1970 DEBT REPAYABLE IN FOREIGN CURRENCY iN THOUSANDS OF U.S. CIOLLARS SUPPLIERS Page 11 SPAIN DEBT OU1rSTANDING TRANSACTIONS DURING PEFtIOD BEGINNINGi OF PERIOD CAINCEL. LA TIONSo DISBURSED INCLUDINIG CONI04ITe DISBURSE- SERVICE PAYMENTS ADJUST- YEAR ONLY UNDISBURSED MENTS M4ENTS PRINCIFPAL INTEREST TOTAL MENTS (1) (2) (3) (4) (5) (6) (7) (8) 1969 - 5.3861 4.2 52 106 a' 106 - 1970 4.146 5 i;280 ' 2 212 212 1971 3p934 3 ,934 '' 342 1921 5.5 2l34 1972 3 #592 3.'592 ' 3142 175 5I7 7 1973 3p250 3. 250 .42 15 5 00 - 1974 2. 4908 2. 908 3 42 141 g. e3 - 1975 2. 566 2.566 3- 342 124 &6e6 6 1976 2J,224 2J224 6. .342 10? 4 49 - 1977 1J.881 101581 '342 9C 4312 1978 1.p539 1. 5 39 -34 2 73 4 15 1979 1,197 1,197 - - 342 56 39B - 198U 13855 855 3 342 3S3 3 E1 I 1981 '513 5'13 3 ' .42 21 363 1982 171 1 71 ' 171 4 175 .1 08/03/7]L TABlLE h.2 TUNISIA EXTERNAL F'UBLIC DETr AS; OF DECEMBER 31#1970 DIEST REPAYABLE IN FOREIGIN ClURRENCY IN THOUSANDS Or U.S. DOLLARS SUl'PLIERS Page 12 SWEDEN DEBT OUTSTANDING TRANSACTIONS IDURI:NG PERIOD BEGINNING OF PERIOD CANCEL- LATIONS, DISBURSED INCLUDIN G COMMITO D[SBURSE' SE.RVICE PAY14ENTS ADJUST- YEAR ONLY UN6ISBURSIED NENTS MENTS FPRINCIPAL INTEREST TOTAIL NENTs (1) (2) (3) (4) (5) (6) (7) (8) 1966 8J597 8#597 547 54? 168 174 342 ib67 1967 8*909 8,909 a 1840 481 2*321 1 1968 7*068 7*0Q68 3 176 300 1,813 371 2*184 02 1969 5*553 8*429 621 1J587 333 1,920 1 197u 4*588 6*S43 476 1#849 326 2*175 - 1971 3*215 4,994 - 1*186 1#263 157 1*420 - 1972 3*138 3*731 593 983 144 1*127 1973 2*747 2*747 1*076 145 1*221 1974 1*671 1,671 * 186 98 283 a 1975 1l486 1i486 - * 186 86 272 1976 1,300 1.300 - 186 75 261 - 1977 1*114 1*114 e 186 64 251D 197b 929 929 - 186 53 239 9 1979 743 743 a 186 42 22? i 1980 557 5157 1,86 31 2115 1981 371 371 - 1,86 19 205 1982 186 1,86 * 186 8 194 - o,e/0:3'7 1. TABLE 4.2' TUNISIk EXTERNAL PUBLIC DEBT AS OF DECEMBER 31pi97o DEBT REPAYABILE IN FOREIGN CURRENCY IN THOUSANDS OF UoS, DCOLLARS .Page 13 SUPPLIERS SWN I TZERLAND DEBT OUTSTANDING TRANSACTIONS DIURING PERIOD BEGINNING OF PERIOD CAN CEL" LATIONS'i ClISBURSlED INCLUDING CNMMITO DISSUlRSE'' SERVICE P'AYMIENTS ADJUST" YEAR ONLY UNOISBURSl.D MENirS MENTS PRINiCIPAkL INTERESI TOTAL, MENTS 51) (2) (3) ( 4) (15) (6)0 7 ) (8I) 1966 -- 263 2631 89 - 8 9 1967 174 174 U 5 172 - 12 I2 1s66 8 a 1,0 78 1 .47tl 2 2 2 1969 1,16]. 1,16L1 66 66 9S13 92 1p08'5 4 1970 552 55 2 4O0 410 593 69 662 1 19I1 370 3;i'O - * ;23 2 3 -322 1972 25 25 - it 13 2 1S 1973 12 12 12 2 14 08/03/7]1 T'ABLE 4.2 TUNISIA EXTERNAI PUBLIC DlEBT AS Or DECE.MBER 31.1970 DEB3T REPAYABILE IN FOREIGN CURRENCY IN THOUSANDS OF U.S# DOLLARS Page 14 SUPPLIERRS UNITED KINtGDOM DEBT OUTS'TANDING TRANISACT'IONS DURING PERIOD B3EGINNING DF FPERIOD CAANCEL' LATIONSP DISBURSED INCLUDING CCIMMIT' DISBURSE' SERVICE PAYNENTS OkDJUST' YEAR ONLY UNDISBURSED NENTS NENTS PFRINCIPAL INITEREST TOTAL MENTS (1,) (2) (3) (4) (5) (6) C?) (5) 1966 4#124 41*482 - 358 896 205 1,101 I 1967 3.l587 3.587 17 . 832 160 992 '452 1961b ' 306 2.9 320 60 74 777 84 861 1 1969 1.604 1.o604 48 48 810 55 865 1971) 842 842 - 801 33 834 1971 4 1 41 - ' 33 2 35 197le 8 8 - - 8 - 8 a 08/03/71 TABLE 4.2 TUNISIA EXTERNAL PUBILIC DEBT AS OF DECEMBER 31J 1970 DEBT REIPAYABLE IN FOREIGlN CURRElNCY IN THIDUSANDS OF UeSe DOLLARS Page 15 SUPPL I ER S USA DEBT OUT'STANDING TRANSACTIONS DURING PERIOD BEGINNINGi OF PEIRIOD CA!lCELe LAl IONS# DISBURISED INCLIUDI,NG COMMIT- DISBURSE: SERV[CE PAYMEN'TS ADJUSTa YEAR ONLY UNDISBURSED MENTS MENTS PRIN1CIF'AL INTEREST lTOTAL M4ENTS C) t(2) (.) (:4) (5) (6) C?) (8) 1960 li1529 it5'46 713 380 4 81 76 557 2 1967 1,'430 1,.780 34,9 3165 91 456 2 1968 1. 1416 1.4117 1 3190 83 473 1 1969 1 . 0328 1.028 1i'943 I1. 94 3 3154 59 413 197U 2,617 2,617 2o823 2.t823 1,278 155 1,433 1971 1,.533 1,533 - 697 103 800 2,629 1972 836 8 36 6 - 624 56 6a0 1973 ;212 2.12 - - 110 13 123 1974 102 1,02 - 64 6 70 1975 39 39 39 2 41 * 691 t1 S , * ,iE Z961 - 99S't ElB lrbEtrI - @ lObO9rII it?79 1961 Cis '6 £fi1 ZIAlE'1 * * £194rt f 199E 0961 6611 'Z 65Z I g04o - _ E69 Ii 6 69 'S 6161 * 659'Z E;2r 9EZ4'9 . , lsz 6 rL 6Zh 9161 - oI O X jl0 OOZ&. ISZ9r0t AeZ9 10 I161 I0o'b I1I1 ES4!£ . . 1PR^£l II96 £Et 9161 * £E(Zl9 Z;O'1 OFI'I . . gRo14r6 I 99161 Sj61 9C9'I IrStr I'I t ID66 '6 - - OG6i1rZ 056'1Z b161 OLE EOil?ST It9E,'£1 9I0'Z 91914! . . L1OE£9f ,1 Od9( 616! SZZ d1irZ. 191v'1 9176gZ 19ZS Otr IZtr'!! . Ig90 9 ZSO IS I16'6 z fyz4t $0Z,t OIS0 'E bES''li Z9(0'FT9 t 'S 91£ tr66 f)90 '99 016! EEfO tAt E*rl bf9I SISz fbf4rs 6S1! 6s9! 6650'tpz 6S 116 It9 'O1 6961 941 PSt)06 1 LitI ;' 1# I£451 £6'l FEZI 5i£ S t96sLL Tpl oflz 9961 O9S. 91lI9 19£'E T9 (ZI I ZEO'Z 9 6IsL'! 1099'CL i'60 99 t96! S90 E goS #r 9 15'5;1& 19 tt01 O 5 Z. ft-IZ I E Z 6 49 9 ';is c ''t19 9 9 61 Ito) t(L) t 91 ltS) ttIF) CEIl cz a ,) S1N3N 1,V.lG lS3 3INI 1 v !tNISt SIN3N 'S1NJN O3S1iOS!ONA JllNO 213N is!;nrC1w SlN3NAVd 3I13AH3S *31MinlSI0 *IIaNO ONianllNI 1033SinasiO SNOT IV, *1:33N13 001o31d JO DoNINNN!9319 UO1I3d El N lunO SNO1V iVSNV I UNIONVNSl O 1S83C 91 z2od SUIddnlg s;wvilOo 'sln JO SON`vsnoHl NI A14N3timfl N1380A NI 318VAV131V 1830 l061t f H813433310 30 SV 1930 :miEnfd 1WNH31X3 IL /£ 0/80 08/03/71 TABLE 4.2' TUNISIA EXTERNAL PUlBLIC DEIBT AS OF DECE4SER 31P1970 DEBT REPAYABLE IN FOREIGN CURRENCY IN THOUSANDS Or U.S. DOLLARS Page 1L7 PRIVATE BANKS F RAN CE DEBT OUTSTANDING TRARNSACTIONS DURING PERIOO BElGINNING OF PERIOD CANCEL LATIONS* DISBURSED INCLUDING COMMIT", DISBURSIE SERVICE PA'YMENITS AOJUST YVEAFR ONLY UNDISBURSED MENTS MENTS PRINCIPAL INTEREIST TOTAL MENTS (1) (2) (3) (4) (5) (6) (1) (8) 1 967 - 90016 8,741 613 161 774 '' 19 68 8#128 8,393 " 265 1,583 391 1,974 1969 6P810 6#810 4#590 467 1*439 289 1,728 -761D 1977u 5#076 9o201 10#465 5.691 2.726 419 3, 145 1 1971 8.044 15,645 ' 7.601 3*265 656 3.f921 i1,P296 1972 12.380 12.380 M 3448 686 4,135 3 1R7 3 8,932 8.932 a 2.977 483 3.46-0 A 1974 5o955 5P955 M U 2.505 320 2.825 In 11075 3,449 3,449 a 1,436 1619 1#605 1!076 2#014 2.014 W U 366 1115 481 a 197? 1.647 1,647 U ' 366 93 459 - 19I7w 1.2d1 1.281 U a 366 71 437 a 19i79 915 915 U - 366 49 416 U 198 C 549 549 U - 366 27 394 a 1981 183 183 U - 103 5 189 U C)8/G13/7 I TAIBLE 4.2 TUNISIA EXTrERNIAL PUBiLIC DEBT AS OF DECEMBER 31J1970 DEBT REIAYABiLE IN FOREIG,N CURRE.NCY IN TH1OUSAINDS OF U&s5 'iOLLARS Page 18 F'RIVATE BANKKS ITALY DIEBT OUTSTANDING TRANSACTIONS DURING PERIOD BEIGINNING OF PERIOD, CANCEL- LA rI oNs,5 DISBURSED INCUIJVING ICOMOIIT' DISBURSE SERVICE PAYNENTS ADJUSTS YEAR ONLY UNDISBURSED MENTS MIENTS PRINCIPFAL INTE-REST TOTAL I4ENIS J1) (2) (:) I4) :5) (i) e)) (8) 1966 ,29,11 1 290 711 7T069 *0619 1 , 5173 369 1, 942 2 1967 35*p209 35*2!09 27*553 2l*073 4.2'38 2j'136 6*,374 1 1V66 '52*045 58*525 19A*000 25o*4di0 11*2!60 2J,802 1A1*062 1 1969 66.*266 6$66*266 - 4*607 3A*845 li*452 372 1970 62*03 1 62*031 4* 836 3i,784 8 620 - 1971 42,]L95 42,195 - 6*088 2*b00l 8 090 '14*8164 1Y72 36,243 36,2!43 0 7*951 s1J705 9*65? I 1973 28*292 28292 - - 5*625 1J'255 i6*8810 1974 22, 667 22#,667 - - 3*4A52 980 i 43 2 - 1975 19*,215 19.2!15 - 0 3*452 820 Ap*27'2 1976 15*76 3 I5*7'63 -. a 2*6i9 670 3*26 d - 1977 13*I144 13*144 a 2*to19 545 3:*1414 197R 10,5i25 110*525 2 2P5 64 421 :2*986 - 1979 7* 960 7*SI60 a . 2*216 305 ;2*521 - 1980 5 745 5 745 , a 1*5163 212 2*1 75 19la 3p 782 3*782 - 01891 132 2*02'3 19E82 1*1891 L* 891 * - 1*8191 57 1*94 8 08/0:3/71. TABLE l4.2 TUNISIA EXTERNAL F'UBLIC DEBT AS OF DECEMBER 31D0191C0 DIEBT REPAYAIBLE IN FOREIGN1 CURRENCY IN 1THOUSAINDS OF U.S. DOLLARS Page 19 PRIVATE BANKS NETHERLANDS DEST OUT'STANIDING TRANSACTIONS DURING PERIOD BEGINNING OF PERIOD CANCEL ' LAT IONS* DISBURSED INC.UDING COMMITO DISOURSE'" SERVICE PAY04ENTS AOJUST* YE'AR ONILY UNCIISBURSIED MENTS MENTS F'RINCIPA4L INTERESTi TOTAL MENTS (1) (2) (3) (4) (5) (6) (7) (8) 196 6 6 1,3 31 -124.3 -6 76 - 1967 1#243 1 3891 5'0 U0 53138 * 55 515 1968 6s381 6*381 '- 330 330 1969 6. 381 6.381 1'989 625 349 974 1970 5.756 7.745 a 908 12'50 287 1.537 1971 5.414 6p495 - 183 1,2'50 249 1*499 56 1972 4.385 5.301 ' 183 1.324 192 1,516 - 1973 3J245 3,977 18.3 699 131 829 1974 2.729 3,278 183 74 116 190 a 1975 29838 3#204 - 183 74 118 191 1976 2.947 3#131 a 183 74 119 193 - 1977 3*057 3U,U57 a 180 117 298 - 1978 2.876 2,676 O 180 110 290 U 1979 2#696 2.696 a 180 103 283 1980 2.516 2.516 a 180 95 276 1981 2.335 2.335 a a 180 88 268 - 19182 2.155 2.J155 180 81 261 1983 1.975 1,975 ' 180 73 253 - 1984 1,794 1,794 180 66 2466 1985 1.*614 1o6i4 I -8: 58 239 - 08/03/71 TABLE: 4.2 TIUNIS;IA EXTERNAL PUBLIC DEBT AS OF DECEMBEFI 31*19?0 DEBT REPAYABLE IIN FOREIGN CURFRENCY IIN THOUSANOS OIF U,S. DOLLARS PaLge 20 PRIVATIE BAiNKS UINITED KINGDOM DIEBT OUTSTANDING TRANSACTIONS OURING PERIOD BE:GINNING OFr PE:RIOD CLATNCEL LA TIt ON S DISBURSED INCk.UDING COMINIT' DISBURSE- SERVICE; PAYMENTS ADJUSTO YfEARA ONLY UNDISBURSED MENTS NENTS PRINCIPAL INIEREST TOTAL MENTS (1) (2) (3) (4) (5) (6) (7) (8) 1966 12.922 12P922 - 1#202 493 1,695 1 1967 11#721 11w721 7A576 7p5r6 8.021 657 8,*678 1.*885 1968 9,391 9'391 - 5,189 372 5,561 1969 4#202 4,*202 410 30? 717 19r70 3,T72 3#792 931 931 446 293 739 - 1971 4.277 4.277 - 670 248 918 19072 3.607 3.607 - 1,118 200 1J318 1973 2.489 2P489 - 892 136 1.028 1974 1.597 1J597 775 82 857 S1975 822 822 - - 557 41 59B 1976 265 265 - 265 8 273 08/03,/71 TABLE 4.2 TUNISIA EXTERNAIL PUBLIC DIEBT AS OF DECEMBER 31,1970 DE13T REPAYABLE IN FOREIGN CURRENCY .N THOUSANDS (IF U0SO DOLLARS Pg 21 Page 21 PRIVATE BANKS USA DEBT OUTSTANDING TRANSACTIONS DURING PIERICIDl BiEGINNING Of PERIID CANCEL LA T ONS a DISBURSED INCLUDING COMMITr* DISBURSES SERVICIE PAlYMENTS ADJU$ST YEAR ONLY UNOISBURSED MENTS MENTS PRINCIPAL, IN'TEREST TOTAL MEENTS (1) (2) 1(3) (4) (5) C16) (7) CS) 1966 6.750 6,75C - 0 1 iJ SOU 298 1,0198 196? 5*250 5j'25CI 2ji5OO' 412 2,9122 196e 2#75( 2i'750 24 6 lJI500 14.0 1.640 1969 1.250 1IJo96 X 246 lj332 12'4 1,4 56 6 1970 1641 164 ;2856 2P856 82 1 93i 1971 2p938i 2.938 , , lij034 1 a7 1,221 1972 1 9041 1.J904 - - 952 1 21 1.0 13 3 1973 952 952 - a 952 61 l.C113 3 08/03/71 TABLE 4.2 TUNISIA EXTERNAL PUBLIC DEBT AiS OF DElCEMBER 31.ol70 IDEBIr REPAYABLE IN FOREIIGN CtURRENCY IN THOUSANDS OF UeS. DOLLARS Pa,ge 22 PRIVATE BANKS DEBT OUTrSTANDING TRANSAiCTIONS DUFtING PEIRIOD BEGINNING OF PERIOID CANCEIL" L T I OaNS DISBURSED INCLUDING COMMIT D DISBURSIE- SERYICE PAYMENTS j1Li USf YEAR ONLY UNDISBURSED MENTS I4ENTS PRINCIPAL INTEREST TOTYrL 9LNTS (1) (2) (3) (4) (5) (6) M 1960 49. 383 JiO.764 7.069 0 .312 4J275 1p2336 5#51 3 1967 53.423 53.561 49.135 42,528 15.372 3.421 18t T, 3 CI 6 dW 1966 78A.695 85.440 19.246 25.7,45 19.532 4.0335 23p .157 I 1969 64.909 85.155 6.579 713 8B413 4.914 13t7Zr 3 a? IyI0 76.8 21 82.0933 14.252 10.3856 9.340 4.79 4 14.fi 34 I 1971 62,868 71,550 - 7. 784 12.307 3.341 15.648 -16.104 197?w 5 8519 59o435 - 153 14.793 2.9044 17.698 1973 43.909 44.642 I 183 11.145 2.0665 13.211 1974 32.*947 33.497 183 6.806 1.4915 8t304 19175 26.324 26.690 183 5P519 1.148 6s666 1917 20.988 21.172 183 3.324 9 12 4.236 1977 17P848 11To 84 m 3.165 ?5i6 3.921 1 9178 14.682 14.682 3-3 1 1 1 603 37 7 1 3 lv7V 11.572 11.572 2 7 2,762 457 3.219 1980 8.810 8.810 - * 2.509 334 2.844 1981 6.300 6.300 2- 2 254 226 2.480 1 9 82 4 o 0 4 6 4046 S2 - 0 7 1 1 3 7 2.208 lIv8 1975 1.975 - 180 73 253 IY1964 1794 1 794 l180 6 246 l 19if85 1614 1.614 - 180 5B 239 6 08/03/71 TAiBLE 4.2 TUN ISIA EXTERNAL PUEILIC OEIBT AiS OF DIECEMBER 31#197iO DEBT REPAYABLE IN FOREIGN C:URRENCY I11 THOUSANDS OF' U.S. OOLLARS Page '23 P'UBLICL' ISSUED BONDiS FRANCE CIEBT OUTSTAlNDING TRANSACTIONS DURING PERIOD BE:GINNING OF0 PERIOD CANCEIL LATIONS* DISBiURSED INCLUDING COMMIT" DISBURSEMD SERVICE PAYMENTS ADJUSt YEAR ONLY UNDJSSURSED MENTS MENTS PRINCIPAL INTEREST TOTAkL MENTS (C) (2) (3) (4) t5) (6) (7) .. 1966 30415 3'415 - ;252 301A 55 6 02 1c967 3 161 3 161 - ; 263 175 438 I 1968 29t9t 2'b97 . , 266 162 428 1 169s 2'632 2 p632 ,200 131I 3;31 2249 19?0 2' 183 29 183 * 210 120 3;30 a 1971 1.973 1 .973 * ;212 101 3113 1S72 1461 1.761 * ;225 89R 3,I3 19 73 1.536 1#536 " 235 76 311 1 974 1.*301 1,301 - 192 6;2 25 4 Ii75 1.110 1I110 ,203 sit 25 3 1976 907 907 -159 397 19 1Y77 748 74 8 a .120 30 15O I917b 628 628 * 127 2.1 150 a 1V79 501 501 * a 93 16 109 1 980 407 q407 * a 40 11 5 1 18 1 367 367 a. a 40 S9 49 19 82 328 328 * a 33 4 40 * 19,84 295 295 - a 34 6 40 1984 261 ; 261 - 36 40 1985 225 ;225 4* a #0 42 08,/03/'7l TABLE 4.2 l'UNISIA EXTEIRNAL. PUBLIC OE:BT AS OF IDECEMBER 311907O DEBT REPAYABLE IN FOREIGN CURRENCY IN THOUSANDS OF U.S. DOLLARS Piage 24 PRIVATELY FPLACED BONDS FRAiNCE DEBT OUTSTANDING TRANSACTIONS DLIRING PE.RICOD BEGI1NNING OF PERIOD CANCEL- LATIONSi DISBUIRSED INCLUDING COMMIt' DISBURSE' SERVICE PAYMENTS AOJUST YEAIR ONL'Y UNDISBURSECD MENTs MENTS PRINC;LPAL, INTEREST TOTrAL MENTS (1) (2) (3) (4) (5:; (6) (71 (8a) 1966 82 4 5 9 1 196k 79 79 - - 4 5 9 - 1968 75 751 - - 4 5 9 al 1969 70 70 - - 4 4 8 1970i 58t 58 - 4 4 8 1171 54A 54 A ' 5, 4 8 - 1972 49s 491 - - 51 3 8 1973 44 44A A 51 3 8 1974 39 39 - - 6 3 8 a 1975 34 34 ' 6- 2 a 1976 2 t 28 A di 2 8 1977 21, 21 ' - r l 8 1978 1I5 15 ' A 7 1 8 1979 7' ' - - 7 * 8 08/0:3/71. TAB3LE L;.2 TUNI1SIA EXTERNAL F'UBLIC DEBT AS, OF DEICEMBER 31#1970 DIEBT REPAYABLE IN FOREIG1N ClURRENCY IN THOUSANDS OF UeSe DOLLARS Page 25 NATION ALIZA T I ON FFIANCE DEBT OUTSTANDING TRANSACTIONS OURING PERIOD BEGiINNING OF PERIOD CANCEL'5 LATIONWS DISBURSED INCLUDINiG COMMIT" DISBURSE' SERVICE PAYMIENTS ADJUST" YEAR ONILY UNCIISBURSIED MENTS MENTS PRINCIPAL INTEIRESir TOTAL MENTS cl) (2) (3) (4) (5) (6) (7) (C) 1969 a - 6,496 6e796 e - U I7'40 64 96 6'?796 905 658 Ip563 19 71 5.892 5.d'5 2 - 453 295 74158 19I)2 5.439 5,439 a 453 , 272 7225 I1v7'3 4.9 6 4.p98 6 - 453 24 9 703 1974 4. 532 4J532 ' - 453 227 6813 19T 7ts 4.079 4I079 - 4'53 204 657! - 197'6 3.626 3i626 453 181 635 197't 3AI73 3.I73 ' ' 453 159 61,2 197'te 2 !719 2*719 - 453 136 589 - 1979 2.266 2 2 66 6 453 113 567r 198() 1.813 1.813 - S3 453 91 544 - 19 8 1 360 Is 36-0 '453 68 521 a 19 82 906 906 ' " 453 45 499 I 1V3 453 45 3 - 453 23 476 a 08/03/71 TAEBLE 4.2 TUNISIA EXTERNAL PUBL.lC DEBT AS OF DECEMEBER 31#19710 DEBT REF'AYABLE IN FOREIGN CURRENCY IN THOUSANDS OF U.S1. DOLLAkRS Page 216 LOANS FROM INTL. ORG,ANIZATIONS, AFRICAIN DEVBsANK DEBT OUT:STANDING TRANSACTIONS DURING PERIOD BEGINNING OF PERIOD CANCELO LATIONS. DISHIURSED INCLUDING COMMIT- DISBURSE SERV I CE PAYMENTrS ADJUST' YE:AR ONLY UNdISEURSED MENTS MENTS FPRINCIPAL INTERESTr TOTAL MENTS (1) (2) (3) (4) (5) (6) (7) (8) 1 9 - U 2. 750 - 1 969 - 2 750 - 275 29 29 197'0 215 2.750 - 1,021 - 64 64 197'1 1.296 2.750 * 582 72 72 1972 1.878 2.750 - 582 - 101 101 1973 2P459 2,750 291 89 130 219 197'4 2.661 2,661 - 177 131 308 1975 2.,4B4 2,484 - - 177 122 299 1976 2.306 2.306 - 177 113 291 197'7 2, 129 2,129 - U 177 194 282 i9O7 i,s952 1.952 - U 177 95 273 - 19 71977 14774 - 177 86 264 1980 1.597 1o597 - U 177 78 255 - 14912 1,419 1,419 - U 177 69 246 19El? 1,242 1.242 - U 177 60 237 1983 1,065 1,065 - U 177' 51 228 1Y64 887 887 - - 177 42 220 19El5 710 710 - U 177 33 211 08/03/71. TABILE 4.2 TUNISIA EXTIERNOAL PUBLIC DEBT AS OF DECEMBER 31p19?0 DEBT REPAYABLE IN FOREIGN CURRENICY IN THOIJSANDS OF UsSo DOLLARS IPage 2 7 LOANS FROM INTLa ORGANIZATIONS IBRO DEBT OUTSTANDING TRANSACTIONS DURIING FERIOD BEGINNING OF PERIOD CANI:ELG LA T I0 N S. DISBURS1ED INCLUDING; COIMMIT DIS5;BUFtSEE SERVICE FAYMENTS, ADJIJST-' YEAR ONLY UNDISBURSED I4ENT'S IMENTS PRINCIPAL I NT EREST TOTAL MENTS (1) (2) (33 ( i) (5) (6) c ?) (01) 1966 1,o0d8 7,OCIO 5,CIO0 3ji373 1967 4 . 4 Al2 12,00 0 .22J O0 0 3 *605 121 196 317 1968 7J9127 33, 879 8.500U 5#431 400 293 693 6115 196Y 12.958 4:1Y9di4 34315U 5ji89? 618 9I33 1.,551 1970 1830237 7S5A6916 9AP197 1,16Ai3 1.3196 2#559 '5,901 1971 26D 270 6 I3 P 6 3I2 11ji236 1 , 6 60 1.8 E159 3. 519 1972 358 846 66o 972 - 10,559 2,P675 2075 4., ?50I 1973 43.731 64 2 97 8AP535 3,4CI5 2*411 5.,816 I 1914 4886S1 60D.8SI1 - 7A,018 4,26,0 3,187 7,,447 1975 51#6:19 56AP631 - 3J148 4,481 3.,151 li'632 1976 50 2136 5,2J 1j50 140 4.04CIO 2,9 39 7., 339 1977 4 7.026 47,750 * 455 4,018 2,0671 6ij,690 1978 43.4652 43,o7311 192 3.62!3 2,s686 6J.3091 1979 40.031 40,108 - 63 3,130 2,711 5j.841 a 1980 36,964 3IS6979 - 14 ;2,6 61 2,498 5O1e159 1981 34 3 17 34, 3 1 7 o U 2J5El2 2, 294 4i A87 C,to 1982 31 .735 31o7.35 - 2P5 26 2*104 4.,630 a 1983 29.o21)9 29,209 2 ,25'11 1,R912 4,,44 3 1984 260678 26,678 2.634 1711 42>345 * 1985 24.0 44 24,P 044l 4 23.330 1.508 3JP 838 018/03/7:L TAEILE 1h.2 TUNISIA EXTERNAL PUBLIC OEBT AS OF DECEMBER 31#197C0 DEBT REF'AYABLE IN FOREIGN CURRENCY IN THOUSANDS OF U.S. DOLLAkRS Page 28 LOAN4S F'ROM INTL. ORGANIZATIONS IDIA DEBT OUTSTANDING TRANSAC.TIONS DURING PERIOD BEG;INNING OF PERIOD CANCELs LAt IONS. DISBURSED INCLUDING COMMIT DISBURSE SERVICE PAYMENTS ADJ1UST 'E'AR FNLY UNDISBURSED MENTS MENTS PRINCIPAL INTEREST TOTAL MENTS (1) (2) (3) (4) MS) (6) CT) CO) 196,6 3,494 5.000 13.000 1*268 ' ' ' 1967 4,1762 18,OOO 6JOOO 1.489 ' 20 20 137 196lb 6.251 23,863 3,631 53 53 19619 9.862 23.863 8.500 3.464 6 57 5? - 1910 13.346 32,363 10#500 2.874 d 98 98B -2P900 1971 16,220 39.963 4.465 137 13- 1972 20.685 39P963 m 2p876 24 164 18a' 19 73 213.536 39.939 - 2.900 49 185 234 1974 26.3d7 39.890 - 6.3440 49 220 265 1975 32.678 39.841 - 5J662 49 264 313 - 1976 38.#291 39*793 A 1.333 114 292 405 1977 39#511 39,679 4 168 210 297 506 A 1976 39.470 39.470 - 210 296 505 1979 39.#260 39.260 - a 252 294 546 1980In 39.0U8 39.008 - - 397 292 689 1981 31b.11 38,611 - - 500 2b9 788 A 1982 38111 38,111 - - 548 285 833 3 1983 37.563 37,563 - - 597 281 877 19 84 36.966 36.966 - 597 276 873 - 198'5 36. 369 36,369 - 597 272 8619 08/03/71 TABI.E 4.2 TUNISIA EXTERNAL PUBLIC DEBT AS OF DECEMBER 311.1970 DEBT REPAYABLL IN FOREIGN CURRENCY IN 'THOUISANDS OF U*S. DOLLARiS LOANS FFtOM INTL. ORGAN9ZATIONS DE13T CIUTSTANDING TRANSACTrIONS DURING P>ERIOD BEGINNING OF PERIOU CANCELC L AT I ONS. DISBURSE:O INCLUDING COMMIT- OISBURSE0 SERVICE PAYMENTS ADJUIST YEAR ONLY UNDISBURSED MIENTS M4ENTS PRINCIPAL INTEREST TOTAL MENTS (lI) (2:1 (3) (4) (5 ) (6) M?) (8) 1966b 4.5662 12.0000 18#000 4.641 a 196? 9P2CI4 300UU0 28OO00 5,094 121 216 337 a137 1961a 1XW0178 571'742 11,25U 9,062 400 346 746 015 1Y64 22.840 68P577 42.85U 9,636 618 1.019 1.637 a 1970) 31tB58 1ICIP809 10*500 13,092 1,163 1J558 2,721 -8.801 1971 43.7a6 111P345 - 16.283 1660 2.068 39728 a 1972 58.409 109.1685 14,017 20700 2,340 5.040 ° 1973 69t726 106,985 11,726 3,543 2,726 6J269 a 197,4 77.0909 1031,443 13358 40486 3.537 8JO24 - 1971 8607e1 98P956 8.810 4.70 3,537 8P245 19765 90.*884 941D249 2.473 4O 691 3,344 8.035 197 r 88.666 89.P558 623 4.405 3.O072 7,477 197i1 84.884 85., 153 192 4.010 3P077 7.0087 a 197 9 811.065 81. 142 e 63 31p560 3D091 6.651 a 1980) 7I7.569 77o583 14 3.923 6 2P867 69103 1981 74.347 74,P347 3.,259 2.652 5,911 19BZ2 71L0088 71. I88 ° a 30252 20449 5.o701 198.3 67;836 670836 e 31305 2.244 59549 a 198'4 64#531 64.531 - 3.408 2*030 50438 a 1 985' 61. 123 610 123 31. 104 1813 4C917 7 08/0:3/71 TABLE 4.2' TUNISIA EXTERNAL PUBLIC DEtIT AS OF DECENtBER 31.1970 DEBT REPAYABLE IN FOREIGN CURRENCY IN THOUSANOS OF U*S. DOLLARS Page J0 LOANS FRCIM GOVERNMENTS A USTRIA DEST OUTSTANDING TRANSACTIONS DURING PERIOD BEGINNINGi OF PERIOD CANCEL.0 LATIONSP DISBURSED INCLUOING iCOMNOIT' DISBURSE' SERVICE PAYMENTS ADJUSTO YEAR OINLY UNUISIBURSiEO MENTS MENTS PRINCIPAL INTEREST TOTAL 1NENTS (t1) (;2) C 3) (4) l5) (6V5ti I:7) I 8) 1966 - 2o860 2,860 115 - 115 196sr 2#7'45 2P745 171 1968 2,574 2#574 ' 0 - - ' 0 19169 2'5174 2*574 . 0 - 1970 2'574 2o574 ' - 0 ' 1971 2*574 2'574 - 0 491 153 645 127 1972 2'2'10 2,21o - 491 124 615 1 973 1 ?19 1,719 - 0 491 95 586 1974 1,228 1#228 - - 491 66 557 1975 737 737 - - 491 37 528 0 1976 246 246 0 0 246 253 018/03/7:iL TABLE 4.2 TUNISIA EXTERNAL PUBLIC DEBr AS OF DEICEMEIER 3101970 DEST REP'AYABLE IN FOREIGIN CURRENCY IN THOUSANDS OF UsSe DOLLARS Page 31. LOANS IFROM: GOVERNME1NTS CANADA DEBT OUTSTANDING rRANSACTIONS DURING PERIOD BEGINNING OF PERIOD CANCEL' LATION S DISBURSED INCLUDINI COMMITO DISBURSE" SERVICE I'AYMIENTS ADJ,UST" YEAR ONLY UNOIS5URSEO MENirS MENrS PRINICIPAiL INTERtEST TlOTAL. M ENTTS (1) (2) (3) (4) (5) (6) C?) CS) 1966 - 2.405 401 1969 401 2*405 1.02 7 1.,353 1970 1,7155 3*4.32 28l70 1461 s o 230 1971 20034 6.5 32 * 1,108, 1972 3.142 65532 ' 412 ' ' 1973 3o5154 6.5312 - 412 ' ' *' 1974 3,9655 46O1532 - 412 1975 4 37?7 6.,532 ' 412 a - a 1976 4.7 89 6 5532 ' 412 ' 1977 5,20 1 6o 5312 412 - 0 197 6 15, 6 I 2 65 D 5 312 412 3i 2 3 2' 1979 '5*992 6s500 - 35t 78 * 70 198u 6.271' 6i,42'2 U 151 129 129 1981 6 2 93 6*2993 6?7 167 1982 6.125 6.125 ' e 167 m 167 1983 5,. 9 ,86 5.v 9 58 167 167 1984 5,791I 5p 791 - 167 167 1985 5.-6214 5.624 V 167 * 167 083/03N/71 TABLE 11.2 TUNISIA0 EXTERNAL PUBLIC OEBT AS OF DECEMBER 31Di97O DE8T REPAYAB3LE IN FORIEIGN CURREINCY IN THOUSANDS OF U.S. DOLLARS LOANS FRONI GOVERN4MENTS Page 32. CZECHOSLOVAKIA DEIBT OUTSTANDING TrRANSACTIONS DIURING PERIOD BEGINNING OF PERIOD CANCEL" LA TI ON So DISBURSED INCLUDING COMMI1T' DISBURSE" SERVICE PAYMENTS ADJUST"D YEAR ONLY UNDISBURSED MENHrS NENTS PRINCIPAL INTEREST TOTAL. MEN TS (1) (2) (3:) C4) ('5) (6:) CT) CO) 1966 4:37 43.7 - 154 5 155 1 1967 2d4 2 84 - 102 5 107' -1 196b 1 81 1 81 95 1(1 2 101 1969 81 176 951 951 81 1 82 - 1970 9'51 1 046 - 6 95 1506 41 237 1971 85i0 85 0 "* 207 39 246i 1972 643 6413 " 185 30 2 15 1973 4158 458 " 179 21 200 - 1974 21r9 2i9 9" 15 12 186 1975 1 04 104 - ' 906 3 91 - 1976 8 8 - 8 9- TABLE 4.2 TUNISIA0 EXTIERNAiL PUBLIC CEBT AS Of DECEMBIER 31 19t0 DEBT REPAkYABILE IN FOREIGN CUIRRENCY IN THOUSANDS OF U.s. DOLLARiS Page. 33 LOANS FROM GOVERNMENTS DEIN MA K DEBIT OUTSTANDING TRANSACTIONS DURING PERIOD BEGINNING OF l'ERIOD LAON:EL LA TI ON Sa DISBURSED INCLUDING COMMIT DISiBURSE' SERVICE PAYMENTS ADJUIST YEAkR ONLY UNDIISBURSED MENTS PIENTS PRINCIPAIL INTEREST TOTAL RENTS (1) (2) (3) (4) (5) (6) CT) S) 196 176 i.'448 63 11 11 196? 849 1,448 - 77 ' 28 28 Si5 196e8 8,5 1J333 1.8166 208 40 40 1969 1.065 3.199 2.0100 833 EU 44 44 4l 1 70 1.899 5. 19 9 1. 362 1o0r 48 155 2 .1971 31.154 5t09U3 I 1,444 107 47 153 I197 4,491 4.986 - 1 10 2410 44 284 _ i973 4.36il 4,7446 X 110 240 39 279 1974 4,p 231 4*506 * 11U 240 35 275 I1975 4101 4.266 6 110 240 31 2tl 1976 3 971 4U026 ' 294' 27 321 1977 3 732 3.732 ' ' 348 22 370 19 7a 3.364 3.384 ' 348 I18 366 1979 3J036 3.036 U 3 340 14 362 1,983 2 p688 26 8 8 34. 10 358 I981 2 3410 2.*J40 348 5 353 S 1 982 1 . 9 92 10 99 2 ' 295 1 296 1983 1 .69r 1r69 ' 241I 2 41 1~4 i.45 1.56 24 1 2 *1 ,985 12D 455 l.21 456 24 I 24 1 1 9 8 5 1 0 2 l4 to I 2 1 4iwwi i .. ~~~~~~6il8f t Sbt?Z 5St/soI .0 Zb '17 Zbl I.; S9 6 ,.~~~~~~~ 6S16'Z l'cI0s5 EE OS¢ 0 . [6 1 6 £hl'f6 096 1 .~~~~~~~~Q9I V1¢ 1.5 bt¢ * a.d 9ZZ9Ec1 9ZZ'E1tI 86 t . ~ ~~~~~~ ~ I 9F 5 It1185sf 5i'IC - .p I9 1 9q Z896t .~~~~~~~~toi PC0¢ lt E'IO a NI 6 1 IZ 61E't Z I18hl zb 55>5'5 *!#8 WZlfb w 1f0'9Z if ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~10419Z r96 I ,. ~ ~~~~~~ Ol l'IS 109 6 bZLif' - . I91$0f 1 9L '0E > . ~~~~~ ~~96f5LI SZtI 'tI tlS' qf . ZE titldr Z I t, f 5; 1 .. ~ ~~~~~~ 217 if9 119Z't 96b .ft .. 66E'Obt 6hE fOb A It - [tr9#~~~~CI9 5t9 s t 6E''S on .IC iIs>S LpsE9'Sb 9,16t - ~~~~~~~91999 ZS' bE fS .i . 15a I L ! 0 S l lL'O1 0S 56 . ~~~~~~~ZSL 19 lo~9 491 9 0 1 5 L 0 81 do. LlQ' S5 0 1 0't 5 WL 6 '- ~ ~~~~~ ~ ~ ItZ f,9 ll rS S I 0 05 > 9 t I¢ S; 150 9 69bl'9S s6 1 w ~ ~~~~~~~ ai! Go S9 915''t lOO'b 1I51Z . 85S'b11?9 6 1ii 85 Z 16 1 'Eit@ Z OSLisQ s5,T l9E'' £Lt? 'b 29 0 If l£d 89 SZ8 El5S I Lhl 6 0IF r. Ol 019 t991 1B8 I' Zt?[ V Zt'6 Ifdi ; 50Z I 900 'LiIS 1151`09 OZhL 'S blI¢r9 608¢ t S r 9 9'' 8Z' iL blr S I Itt d, EI b9t)'rZti 61TfiY9 h 96 1 as*r# 8,5 ;'Z1' t 9 i 519tr 'E 9ZT if 1215z'Z 0910'b9 09tp 'b9 9 9 ht 9oZ ai it,@¢ l9OS' b81 ¢E ,[6S tIF91 t RI as 681` 'Z9 1#1 '9 1 9 hl fSbb. IOr Sb 5Lbt 9Z%i OltS ¢I?rzfI .b,95'9 4rg0 OC 9 9 961T t 9 Il t9> ( #) G (f z IZ t) S IN 31 Wf0 l S3 8iI 31IN I lVt I ONI NJ S lN13W S1N3W1 O3SHnas1QNn AINO NV3A eisnrav SiN3HAVid 331AN3'S 1113s H110asI aN- ,lIN a1 H0i OnIOlNI 035,81n0sia .13oNtol 00 Ib3tl JO !3N INN I938 w"13ONV3 0011~~OOI13d ONIbnai SNOIIlOVSNI181 9N I ONViSino ISMa 3ONVVA1; SiN3NlNE3AO9 HO 4 SNY01 f7 1E a' ea suviiotl esn jo t;aNvsnoHi 1Ni A, 3N3mmnO N91I3H0A NI 318V'ttVd3N .l03t1 0,L6t"tE N380433'.a AO SV 11330 3IlOntl lViN31X3 _, , ~~WISINnl z \ 318V1 08/03/71 TABLE. 4.2 TUNISIA EXTERNAL PUBLIC DEBT AS OF DECEMBIER 31#1970 DEBT RIEPAlYABLE IN FOREIGN CURRENCY IN THOUSANDS OF UiSa DOLLARS PaLge 35 LOANS FROM GOVE.RNMIENTS GERMANY (EIkST)' DEBT OUTSTANDING TRANSACTIONS DURINIa PERIOD BEGINNING OF PERIOD CANCIEL LA T I CN 5 DISBURSED INCLUDOING COI4MIT DIS13UR SEe SERVIC1 PAYMENTS AIDJUON'S YEAR ONLY UNDrSBURSEDI MENTS MENTS PRINCIPAL INTEREST TOl'AL MENiTS (1) (2) i3) (4)t (5)1 (6) C ?) ca) 1966 810) 810 ' - 125, 16 1 41 1967 685 685 IJ0O7 7 128 1,7 1I45 1968 55ir 1632 ' 1 075 294 20 314 1969 1.3343 1 338 - 254 38 ;292 197u 10084 1 084 Al 222 12 234 4 1971 86:2 862 o 141, II 152 1972 721 721 O 141, 13 '154 1I973 58I0 58( 97, 15 112 1,974 483 48 -l 9i' I17 114 1975 38,6 386 C 9 7 ;20 1I? 1976 2B89 289 a - 91' ;23 120 1977 192 192 - ' 96 26 122 1978 916 96 O 96 29 125 08013//71 TABLE 4.2 TUNISIA / 7 EXTIERNAkL PUBLIC DEBT AS OF DEC:EMBER 31*1970 DEBT REPAYAIBLE IN FORIEIGN CURRENCY IN THOUSANDS OF U.S. DOLLARS LOANS IrROMI GOVERINMENTS Page :36, GERMANY (FEDoREPsOF) DEBT OUTSTANDING TrRANISACTIONS DIURING PERIOD BEGINN:ING OF PERIOD CANCEL0 LATI ONSP DISBURS1ED INCLUIDING COMMIT" DISBiURSE' SERVICE lAYMIENTS ADJUST" YEAR ONLY UNDISB'JRSED MENTrS MENTS PRINICIPAkL INTERESI' TIOTAL. MENTS (1) (2) ;3) (C4) ('5) (66) CT) C') 1966 8P953 20.000 2.25(5 1 .320 230 374 604 5612 1967 10.043 21.408 9. 250 2,.01l 290 395 685 4.828 1968 11.77 1 25p5410 19.At6t 4,.5 2 317 524 841 ;I12 1969 15p9;26 44.37'8 4.098 5i.2401 660 742 1,.402 4,117 1970i 21.91 519.33 12.*076 7279 1, 25 2 1.031 2 . 2 8 .3 8, 451 1971 31.6i14 71.208 14,.551' 1.609 9 05 2o51Ai 2.>215 1972 45.5,45 71P814 10,.9141 1P609 1#152 2,P76'2 1973 54.85iO 70.205 6,.51 5 2 fi30 7 1.0348 3o655 1 9 7 4 5 9. 06oS 1 6 7.9 8 ) 7 2, 6 4 8 3,0O39 1 . '4 0 3 4 , 4 42 1975 58#670 64,85 8 - 2,.430 3*400 10480 4*880 1976 57.9700 61.459 1,570 3.902 1#612 5.511 - 1977 55.367 57.557 - 1.p364 l4015 1#552 5.5617 1978 52.71L6 53.541 - 8225 3.9 61 1. 467 5. 4250 1979 49.o 580 419.50 - ' 4 * 2 47 1 . 4 1 9 5, 666 1980 45.3 33 45,333 - 3 4.247 1.0289 5.536 ' 1981 41.086 41.u086 - * ,4157 1,160 5.31 - 1982 36.929 3 6.99 - 9 3.6950 1.0)35 4.725 1983 33. 239 332.239 - 3,307 931 4.231 - 1984 29.9;32 2 9.932 3 *' 3275 834 410 9 19H8 2 6.657 2 6. 67 - * 3.051 i738 31,789 - 08,/03j/71 TABLE 4.2 TUNISIA EXTE:RNAL PiJBLIC DEBT AS OF DECEMBER 311970 DEBT REPAYABLE IN F'OREIGN CUFRRENCY IN THOUSANDS ODF UsS. DOLLARS Page 37 LOANS FROM GOVERNMENTS HUNGAFtY DEB3T OUTSTANDING TRANSACTIrONS OURINQG 'ERIOD BEGINNING OF PERIOD CANC,ELs LATI ONSo DISBURSED INCLUDING CtlMMIT' DISB UR:SE' SERVICE PAYMENTS' ADJU§ST YEAR ONLY UN61S8UJRSED MENTS MENTS PRINCIPAL INTEREST TOTAL MENTS (CI) (2 ) (3) (4) ti) (6) C?) CS) 1969 ,, 748 748 a 0 , 1970 748 748 75 25 100 - 1971 673 673 e - 135 26 161 a 1972 5.38 538 - 135 20 155 1973 403 403 - * 123 15 138 1974 279 279 - ' 112 10 122 1975 167 167 - a 112 6 117 1976 5 6 5i6 - a 56 1 57 08/03/71L TABILE 4.2 TUNISIA8 EXTERNAL PUBLIC D1EBT AS OF DECEMBIER .31#1970 DEBT REPAYABLE IN FOREIGN CUIRREPNCY IN THOUSANDS OF IJsSui DOLLAIRS Page 38 LOANtS F'ROM GOVIERNMENTS I TAL'r DEBIT OUTSTANDING TRANSACTIONS DURING FPERIOD BEGINNING OF PERIOD CANCEL', 1LATI ON S. DISBUJRSE'D INCLUDING COMMIT" OISBUFISE SERVIC E PAYMENTS DJUST YEjR ONLtY UNOISBLIRSED M4ENTS WENTS PRINCIPAL IINTERIEST TOTAL MENTS (1 ) (2) (3) (41) (!) (6)1 cl) ()41 1 9 6 165I0G00 16 .00)0 a2 2 .00o0 e843 2J.843 a 1 967 14 OCiO 141*000 9. 600 9#600 2. 000 753 2j753 196tl 2I1.6Ci0 21I600 2 .! 400 720 3j,120 1969 1 9.200 19.*200 7.8140u 2s.400 2 40 0 636 3ji036 197I0 19.2C10 21I,640 a 5J'440 2.400 536 2J,936 1v71 22.2410 22 , 240 2 '.400 4178 2.j878 197 2 19,84 0 19.i840 . a ,4499 4108 3Ji907 a 1973 16*3411 16.341 a 1.52'6 422 1,F948 1974 14p815 14.815 a a 1P526 3185 1.l911 a 19715 1 3.288 13*288 1.5 26 3148 1*874 1976 11 .762 11r762 - 1.5216 3111 1j837 197t7 10O2316 102336 - ' 1 52'6 274 1J,800 a 197 8.710 BIO710 1.5 26 236 1J,762 a 197.49 r.18el4 1819IO4 I 2 1 5266 1t99 1#725 1980 5.F6 t;8 5.i658 1.5216 162 lJo688 a 1981 I41312 I*1132 t 5 1.526 125 1,651 - 1982 2.60C6 2p6016 1552'6 88 1J614 - 1983 :l01310 10oo a a 653 51 704 a 1984 42'7 427 a - 427 14 440 a 08/103/7]l TABLE 4.2 TUNISIA EXTERNAL PUBLIC DEBiT AS OF DECEMBER 31.19170 DEBT REPATABLE IN1 FOREIliN CURRENCY IN THOUSANDS OF U.S. DOLLARS Page 93 LOANS FROM GOVERNMENTS (U WAIT CDEBT OUTSTANDING TRANSACTIONS DURtING PEIRIOD1 BEGINNING OF PERIOD CANCEIL' LATION S. DISBURSED INCLUDING COMMIT, DISBURSEI SiERVICE PAYrMENTS ADJUSr- lfEAR CINLY UNDI1$URSEO MENTS NENTS PRINCIIPAL INTEREST TOTAL MENTS (1) (2) (3) (4) (5) (16) (?) (a) 19)66 23.206 28,000 .. 2627 ' 468 4*68 1967 25A833 28sUOO 12.880 5.9905 - 389 3189 339Al 19568 31.828 40.488 5,4655 1.0DOO 796 1796 4 1969 36.293 39P488 1.0O;22 1.0361 93,2 1.9 9 3 * I970 36.254 38.427 8e96() 1. l8l2 1907 938l 2,845 165 1971 35#529 45$315 " 2P204 3#186 1 377 4.51563 19,72 34P547 42.129 *' 1,378 3.222 Io3095 4.0531 * 1tl73 32.704 3 8 907 ' 1.31r6 3.2 8 7 1223 45o:10 1S74 30.795 35.o61 9 1.31rC8 3,354 1.1341 4 4 41'I s1s75 28.819 320265 I 1A378 3.3 95 1.043 4 438 3a 1976 26,#802 28 0170 1.p 37 8 3.o437 950 4.3837 1Y7t 24e744 25.433 689 34o05 856 4 561 IN 19178 21.728 21.72 8 40ID30 71I9 4.7*49 1979 17.698 17.i69 e o a 134 564 4J697 ie 91980 1 3. 564 1 311 .564 cm 2. 055 4 1 4 2J 469 19861 11.509 11.i0509 aD 4, 2.101 - 339 2,44 1 1 98 9,408 9.0 0 ai a 784 2764 1.A60 10 1983 8.624 8.624 8 12 253 10665 18 4 7 8 0 1 2 7 ., 1 2 840 2 C 18 a ;W0W 19S85 6.972 6A972 2 840 20 3 1.043 TABLE 4-.2 TlNISIA 08/03/71 EXTERNAL PUBiLIC DEIJT AiS OF DIECEMBER 31#1970 DEBTr RE:PAYABLIE IN FOREIGN COURRENCY IN THOUSANDS Or U.S. DOLLARS, Page '40 LOANS FROM GOVERNMENTS P LIBY A DEBT OUTSTANDING TRANSACTIONS DURINGi PERIOID BEGINNING O01 PE;RIOD CAiNCELC LA TI ON S DISBURSED INCLUDING CONMIT DISSIURSE0 SERVICE PAYMENTS ADJUST YrEAR ONLY UNDISBURSED MENTS MENTS PRINCIPAL INTEREST TOTAL MENTS (1) (2) (3) (4) (5) (6) (7) (8) 196b 3o464 3D464 959 959 ' ' ' 1967 4s423 4#423 41 41 - 1030 1968 3,o434 3P434 3 - 3 62 62 - 1"69 3,434 3,434 - 3,4)4 34 3e468 9'70; , 0 138/o)3/71 TABLE )4.2 TUNISIA EXTERNAL PUBLIC DEEBT AS OIF DECEMBER 31#1970 DEBT REPAYABLE: IN FOREIGN CURRIENCYr INl THOUSJNDOS, OF U.S* CIOLLARS Page 4e LOANS FRCIM GOVERNMENTS NET HERLANDS DEBT OUTrSTANDING TRANSACTIONS DURING PERIOD BEGINNING OF PERIOD CAINCEI.' LA'TI O iS. OISBURSED INCLUD1ING COMI4IT'U DISBURSE;' SERVICE PAY'MENTS AD JUSTr YEAR ONLY UNDISBURSED MENTS ME1NTS PRI1NCIPfAL INTE.RESIT TOTAL IMNEWS (1) (2) Ci) (4) (S) (6) Cr) CS) 1966 - 552 549 U 1967 1549 552 829 1 £3 a 1968 1549 1.381 ' - 16 16 U 1969 '549 1 381 705 25, 25 '1 197U 1J.254 1;.380 9941 7 39 319 1971 1.322 2P.375 6 to4 2 2 2 40 1972 1 0508 2,l15 - 1t64 ' 5 5 a, 1973 116672 2'Ai15 1.36 E aa 8 1974 1.808 2A415 1 '15 30 12 42 i 1975 1.1912 2.384 -, 135 74 56t 12.9 1976 1 J 973 2.310 1 3 5 74 57. 131 1977 2*.034 2,.236 1315 74 58l 1'32 ml 1978 2J095 2' 163 6r7 97 59S 156 G 1979 2I065 2.0i65 * 121 57' 178 * 1980 1 '944 1 1944 I ' 1121 531 174 1981 1.8324 1 o824 1 . 121 50 1tl1 ml 1982 1#T03 1i703 3 1121 47 ' 16i7 t 1983 1*582 1.,582 1321 .1 16o4 1984 1. 461 1461 121 40 1651 * 1985 * 1 38Fn t * .'J40 I a 121 36 157 08/0:3/' 71 TABLE 4-.2 TUNISIA 0 EXTERNAL PUEILIC DEBT AkS OF DECE14BERF 31D1970 DEBT ROPAVABLE IN FCIREIGN CURRENCY IN THtOUSiANDS OIF UsS. DOLILARS Pa,ge 4 2 LOANS FROM GOVERNMENTS POLARND DEBT OUTSTANDING TRANSACTIONS DURING PERIOD BEGINNING OF PE.RICID CANCELa L AT I ON Sio DISBURSED INCLUDING COMMIT DIS13URS,E SERVICE PAY4ENTS ADJUSTD YEAR ONLY UNDISBURSED MENTS Ml.NTSi PRlNCIPAL INTrEREST TOIAL NENTS ci I2) 1;3) (4 5 16) (?71 (8a 1966 1,,135, 1,135 - a 187 20 2i07 1961 67 6 948 - ' 188 10 1,98 1968 487 759 - 166 12 1178 1969 321 593 12 284 302! 21 323 1970 30 3 303 - ' 121 4 1L25 - 1971 162 182 124 3 1I27 1972 5) 5 ti 'ti 2 58 1973 2 i ' ; 2 ()8/CI3/71L TABLE 4.2 TUNISIA EXTERNAL PUBILIC DEBT AS Ofr DECEMBER 311970 DEBT REIPAYArBLE IN FOREIGN CURRENCY IN THOUSANDS OF U.Ss DOLLARS Page 43 LOANS FROM GODVERNMENTS SWEDIEN DIEBT OUTSTANDIN*G TRANSACTIONS DURING PERIOD BEGINNING OF PERIODO CAPICELS LAI'I ONS. OISBURSEO IINCLUODING COMMITO DISBURSE0 SERVICE PAYMENPTs ADJUST" YIEAR 01NLY UNIDISBIURSED MENTS MENITS P"RINICIPAL INTEREST 'OTAL NIENTS III) (Al) (3) (4) (5) (6) CT) (8) 19166 223 1.J159 739 841 ' 7 7 2 1967 1#064 1.900 2o9OU 659 31 31 61 1968 107'22 4,799 - 538 26 26 -I 1969 2.260 4,798 6#118 2,079 - 55 55 1970 4.#3138 10#916 9.375 448 53 53 1971 4#7'86 20,291 * 3.214 172 54 226 1972 7P828 200119 - 3P214 172 79 251 - 19 73 110.el70 1,9.94? ' 2#662 172 103 275 1974 I13*3160 1,9,775 987 172 124 296 d 1975 I 4,1 75 i9j603 - 987 172 136 308 19r6 149190 190430 98? 190 147 338 19;Z7 15.786 19.o240 981 302 231 533 1978d 116.p472 18.*939 987 302 240 542 * 19,79 170157 18#637 - 987 296 249 545 1981) 17P848 180341 493 467 259 726 19891 17.874 17874 639 253 892 19832 17.235 17.235 639 241 880 198l3 16#596 16.596 - 581 229 811 1984 16.014 16PU14 ' 523 219 743 1985 15.491 S.4i9i * 523 210 733 B TABLE lu.2 TUNISIA 08/0: /71 EXTERNAL FUBLIC IDEBil AS OF DECEMBER 31.1970 DIEBT REPAYABLE IN FOREIGN CUIRRENCY IN THOUSANDS OF U.S. DOLLARS Page 44 LOANS IFROM GOVERNMENTS USA DEBT OUTSTANDING TRANSACTIONS DURING PERIOD BEGINNING OF PERIOD CANCEL' LATIONSo DISBURSIED INCLUDINIG COMMIT- DISBURSE ' SERVICE IPAYMIENTS ADJUST'" YEAR ONLY UNDISBURSIED MENTS MENTS PRINCIPAL INTEIRESTr TOTAI. MENTS (1) (2) (3) (4) (5) (6) Cl) (a) 1966 40.38 6 76.339 15.01300 I p75! 504 485 989- 1967 57.639 90. 834 42J240 24.53 2 4 44 4591 1O035 2 . 444 1968 81,709 130. 186 20V412 25,596 1,516 1,1D92 2#608 -*1079 1969 106,430 148.U03 13,oDO4 25.74;3 2#319 1,271 3.590 I540 1970 129.201 158 1A48 6*410 5.88;3 2.37r9 1.p587 3,96 6 'i574 1971 130,954 159,801 - 5,54 4 1.828 1,796 3.624 -1,804 1972 134,670 157,9ir3 - 3.098 1,501 1,847 3.34 4 - 1973 136,2,67 156,472 3.0981 1.79 0 1,is77 3.667 6 1974 137,574 154.6831 3,09J5 2. 365 1,904 4.269 - 1975 138P308 152.317 3,00981 2.7o05 2#1050 4.7515 1976 138.700 149.611 - 3,098 3,308 2.166 5,474- 1977 138,490 146' 303 - 3,091 3,451 2'356 5*80r - 1978 138.136 142.8'52 - 2,78) 3.755 2,4 77 6.231 - 1979 137,162 139 0U7 1993 6 3,721 2,762 6,48' - 198 0 135,376 135, 376 - . 4,415 2*832 7.247 1981 130.961 130.9651 - 0 4745 2.T42 7,217 1982 126.486 126,4486 4,536 2.1650 7.186 e 1984 121.951 121.95 1 4 ''"8 2,'557 7-155 1984 117.353 117*3153 - 4.661 2.463 7.1225 198') 112,691 112.62 1 -6'I 4.726 2.3 67 7.09 4 08/03 /71 TABLE t4e2 TUNISIA EXTERNAl. PUBLIC OD.8T AS OF DECEMBER 3115970 DEBT REPAYABLE IN FOREIGN CURRENCY IN THOUSANDS OF U.S. DOLLARS Page 45 LOANS FROM GOVERNMENTS USSR DEBT OUTS1rANOING TRANSACTIONS DURING PERIOD BEGINNING OF P'ERIOD CANCELO LAT IONS, DISBUiRSED INCLUDING COMMIT' DISBURSE* SEFIVICE PAYME.NTS AiDJUST YEAR ONLY UJNDISBURSED MENTS MENTS PRINCIPAL INTERIEST TOTAL MENTS Cl) (2) (3) (4) (5) (6) (7) (6) 1966 4.573 13.571 o4101 5.150 59I 30 89 2 1L96/ 9,666 14.915 2.333 9.245 411 362 773 -1413 I 96 e 13.355 15i424 2199 907 1J045 423 1.468 364 I196 91 13.580 15.04:2 85 265 9?7 396 1I373 - I1970 12,868 14.150 1 64 1.8444 369 2J213 1 1971 11,057 12,313 - 1,256 2,0O0e 328 2.388 '35 1972 10.253 10*253 ' 2.001 303 2,303 197 3 E8.253 8.253 . , 1.943 242 2.185 1974 6.310 6.310 - ' 1.087 184 1.270 1975 '5.223 5.223 2 ' 1.086 151 1,236 1976, 4.0138 4.138 - 1#076 118 1.195 1977' 310062 30062 - '1076 86 ).16 2 197ti 1.985 1.985 - 826 54 879 197s. 1.160 1.160 - a 387 29 416 1980 773 773 - a 387 17 404 a 1981 387 37 -a 387 6 392 a 08/03/71 TABLE 4.2 TUNISIA EXTERNAL PUBLIC DEBlT AS OIF DECEMBER 31o1970 OEBT' REPAYABLE IN FOREIGN CURRENCYf IN THOUSANDS OF U.S. DOLLARS Pallse 46 LOANS FROM GiOVERNMIENTS a YUGOSLAVIA DEBT OUTSTAiNDING TRAkNSAiCTIONS DUFRING PEIRIOCI BEGINNING; OF PERIOID CANCEILS LATIONS. DISBURSED INCLUDING COMMIT' DISOURSIEO SERVICE PA'YMENlTS ADJUSTO YEAR ONLY UNOISBURSED MENTS MENTS PRINCIPAL INTEREST TOTAL MENTS (1). 2) (3) (4) (5) (6) (7) (s) 15166 1#327 4,040 89 901 303 1li 319 'U 19'67 1.925 3. 826 a 1*046 611 53 664 '42 1 9 68 2.358 3.213 ' 414 676 61 73?7 M 1969 20S95 2.536 82 523 718 56 774 Is 19o70 1.900 1,900 394 30 424 l 19S71 620 620 141 19 160 86 1972 479 479 - 135 14 149 - 19173 344 344 - 134 10 144 - 19R74 210 210 a 1 6 8a - 1975 129 129 ' . 80 4 84 O 1 976 49 49 - a 42 1 43 - 197t7 7 7 - r - r - TABLE h.2 TUNISIA 08/'71 EXTERNAL PUIILIC DEBT AS CF DECE4BERt 31.1970 DEBT REf-PAYABLiE IN FOREIGN CURRENCY 1IN TrOUSANDS O5f UaSa DOLLARS LCIANS FRIOM GOVERNMENTS Page S7 DEBT OUTSTANDING TRANNSAeCTIONS DURING PERIOD BEGINNING OIF PERIOD CA NCELO LAYTIONSP DISBURSED INCLUDING C0MMIT"' OIS8URSIE SERVICE PAYMeENTS AOJUST- YEAFI ONLY UNDtSi5URSED MENTS MENTS PRINCIPAL INTERESf TOTAL MENTS Cl) -16(2) (3) (4) (5) (6) (7) CS) 1966 163,690 232,067 23.850 35,177 6.503 3.7510 10.253 1,057 196?7 192P092 248.357 86*629 59,3t2 7,729 Co1545 11PS4 010p253 1968 237.443 317.004 70,06;2 42.250 10,971 5.51 6 16,487 5.48 6 1569 269.676 370*609 47,70;2 52. 660 19,454 5,812 25.266 -5,170 1970 296*961 393,687 61,93:1 31,888 15,239 6,501 21.740 2.855 19 71 307,276 419,660 3 33,558 16,774 6o814 23,586 *21,192 1972 125.193 405,268 21#441 17P389 6.926 24.316 II 1973 329p245 387.879 m 16.o1Z96 169973 6.*9619 23F942 - 1s74 328*46? 370.906 lO.575 17.874 6.938 24P812 19 7 5 21.68 353.032 8Olt5150 18.f607 6.915 25.523 1976 3111.111 334.425 7.634 19,495 6,82,6 26.321 1977 299P250 314.930 - 6.654 19,566 6,721 26.288 1978 286#368 295.363 5#071 19.o644 6*424 26.069 1979 2t71.795 275.719 - 3.279 19.581 6*279 25,860 15180 255*493 256.138 - 644 18.413 5 884 24.297 1I981 237J724 237.724 - 18JO59 5.390 23.449 19a82 219.665 219.665 ' 15.712 4P919 20!J631 3 19583 203.953 203.953 - 13.915 4.51 7 Io432 1984 1,90.038 190.038 '- ' 12.906 40131 27.037 - 1985 1.77.132 1771 32 - 1' 314 3.739 :5'A 4 08/03/ 71 TA,BLE 4.2 TLINISIA EXTERiNAL PUBiLIC OEIJT AiS OF DIECE4BER 31I19i!O DEBir REPAYABLE tN FOREIQN CURRENCY IN THOUSANDS OF U.S. DOLLARS Pa,ge 48 UNCILASSIFIED UNK NOWN DEST OU'rSTANOING TRAiNSAiCTIONS DURtING PERIOI) BEGINNING OF' PERIOD CAiNC,EL L LAiTIONSD DISBURSED INCLUDING COMNIT's DISBURSE' SERVICE PAYMENTS ADJUSTO 'EAR ONLY UNDIS5URSED MENTS NENTS PRINCIPAL INTEREST TOTAL NENTS CI) (2) (3) (4) (5) (6) C?) CS) lv 70 - - 28'279 17#360 494 48? 981 197t1 - - e t 9 9 '2?D2 8 5 08/03/71 TABRT *4.2 TMINT5TA FXTERNAT. PUBUIr DE-BT AS OF nFrFCmRF.R 31- 1970 nfET RE.PAVARTF TN T4fYRE.T(.N !TIRRFENrY Page 49 Note: Included service on all debts listed in Table 4.1 prepared August, 1971 with the exception of the following: a) Debta for whic'-h repay..ent terms are r.ot na41nhlabe (In J. thousand of U.S. *lllrs DiTuse Inclu.din * only undisbursed Supplie,s ~ f 779 A.4 A.JU Financial institutions 1L5000 2 9 LUoans L rom 01over1uenLCs 6J u842 I / France 4,175 209849 iTYCA 1,750 1,"4. U) * . t. *P %J. U.S.S.R. 31 35 Y u gv0 slI tav ia 886oov C)O8 Unclassified 16,866 27,785 Uj rL ±.±L:pt1 11i ftlU etll:b .Loans LFoUi goverruents 2,849 2,454 France 19 19 Germany 2,830 2,,30 TOTAL 49,136 94,jtZ Economic and Social Data Division Economic Program Department August 3, 1971 Table 5 GENERAI. GOVERNMENT CURRENT ACCOUNTS, 1965-1971 (Mitllions of' Dinars) 19a ;1966 1967 1968 19659 3.970 UZI Actual Actual Actual Actual ActuaL Rev. Est. IBu. Est. CIJRRENrT RECEIPTS 122.5 139-3 ILC) 8.o 183.'l 1961.1 205l8 1., By Category Taxaltion 104.2 121.4 121.5 125.0 156.2 162.2 167.2 Interest and dividends 1.1 1.1 2.1 3.9 5. C) 10.6 1.5 Social security receipts 12.5 L4.8 16.1 17.5 20.7' 22.0 24.3 Miscellaneous transfers 4.5 1.6 2.8 1.3 o.8 0.5 1.7 Foreign grants 0.2 0.5 0.4 0.4 0.6 o.8 1.1 2., By agency Central government 103.8 1L6.3 120.1 123.0 1,52.4 163.8 170.5 LocaLl governrments 5.8 7.5 5.9 6.5 9.2 8.7 9.2 Social sescurity 12.7 L5.0 16.5 18.0 21.1 22.6 24.8 Exttra-bulgetaryreceipts 0.2 0.5 0.5 0.4 0.6 1.0 1.3 CURRENT PAYMENTS 101.7 117.9 127.7 144.1 157.7 173.8 185.3 1., By cateigory Conoumption (goods and serices) 20.6 19.4 22.2 24.4 27.0 29.3 30.3 SalaLries 58.7 '71.8 77.8 87.2 94 . 3 102.1 106.6 Social security payments 8.1 9.3 9.7 10.9 12.1 13.2 15.0 Interest payments (donestic) 1.7 2.5 1.8 4.1 5.2 5. 1 6.2 Interest paynents (foreign) 1.3 1.9 2.5 2.9 4.2 5 .7 7.2 Scholarsihips 1.4 2.5 2.9 3.5 3.5 4.8 4.8 Other transfers to households 1.0 2.3 2.3 2.1 2.2 e2.7 3.8 Current subsidies 5.8 5.8 6.5 6.7 7.C) 8-3 8.6 Miscellaneous transfers 3.0 2.3 2.1 2.3 2.C) 2.6 2.8 2. By agency Central government 78.9 92.7 100.0 113.7 122.6 138.1 148.2 Locell goverments 7.1 8.2 8.4 9.7 10.]. 1C).8 11.2 Social security 8.7 9.9 10.3 11.8 13. 2 14.1 15.8 Ectra-budgetary payments 7.0 7.1 9.0 8.9 11.8 1C).8 10.1 CtURRENT SURPLUS 20.8 21.5 1.8 25.6 22 20.5 of which: Central government 24.9 :23.6 20.1 9.3 29.8 2'5.7 22.3 Local g overnments -1.3 -07 -2.5 -3.2 -0.9 -2.1 -2.0 Social sscurity 4.0 5.1 6.2 6.2 7.9 8-5 9.0 Exctra-budgetary balances -6.8 -6.6 -8.5 -8.5 -11.2 -9.8 -8.8 Source: Mnistry of' Plaining TELble 5' GENERAL GOVERNMENT CAPITAL ACC()UNTS, 1965-19'71 (M'illions of dinars) 1965 ] 966 1967 1968 1969 1970 1971 Actual Actual Actual Actual Actual Rev.Est. Bud.Est. Capital expenditur e Urban water works 2.1 2-4 2. 3 1.3 1.3 1.5 1.7 Education 11,29.2 9.3 10.9 9.2 9.9 Health and sports (11.2 12.0 4.8 3.6 1.9 2.1 3.1 Adm. const. and equip. 7.9 10.3 8.1 10.1 9.0 7.3 8.4 Agriculture 20.2 18.2 17.3 18.1 21.9 16.5 14.5 Transportation 2.7 4t.7 3.92 5.2 5.5 7.7 14.8 Housing 3.3 0.6 0.5 0.5 0.7 0-5 - Tourism _ - - - - 0.9 1.0 Sub-total (G.F.C.F.) 47.4 48.2 46. 48.1 51.2 45.7 53-4 Subsidies to enterprises 14.8 1l4.3 13-9 19.8 22.4 19.0 17.4 Subsidies to households 0.7 0.2 0.6 o.6 0.4 0.5 1.5 Land purchases 0.2 ().1 0.2 0.3 0.3 0.1 0-5 Loans and advances 1.1 2.6 3.5 3.4 2.3 2.3 2.3 Loans to enterprises - 3-0 Total 64.2 6' 4 64.3 72.2 76.6 70.6 75.1 External financing Grants 12.0 8.1 10.9 13.8 19.4 21.7 22.3 Loans 23.5 25.4 46.92 36.7 25.5 32.9 37.o Less: repayments -2.6 -2.3 -9 2* -0 l.7 -12.9 Total, net 32.9 .2 48.8 41.5 39 13 46-.4 Domestic financing Current surplus 20.8 21.5 15.3 3.8 25.6 22.3 20.5 Land sales 0.1 (.3 0.1 0.1 0-3 1.2 0.5 Transfers fromnenterprises 0.8 2.1 0.7 0.3 3.0 1.2 2.2 Loans and advances - (.9 0.9 2.3 2.2 1.6 1.5 Long-tern borlrowing 4.7 :3.1 9.3 6.6 5.1 2.6 9.8 Less: repayments -0.5 -0.6 -1.3 -2.0 -2.4 -3.9 -7.6 Treasury deposits, net 8.1 3.-6 -5.2 18.7 7.1 7.6 7.7 Receivables, net -2.2 (.1 -1.:3 1.6 0.6 5.4 -0.2 Short-term banks, net 2.6 5..4 -0. 6 0.9 5.1 -6.7 - Cash balances,, net 3 - M -2.l -i.8 -6.1 -4.6 - 0 Total, net 31.1 34.1 15.5 7 70 26.7 29.4 Total net financing 64.o 65-3 64.3 72.0 76.4 70.6 75.8 Errors and omissions 0.2 0.1 - 0.2 - -0.7 Source: Ministry of Planning Table 5.3 GSNn&EL_2OVERNMENT ACCOUN X G =aiL971 (Millions of' Dinars) 126. 12_66i. 196,( 1968 l2S 12=M M'1 Actual Actua.L Actual Actual Actual Rev. Est. - E,.st. Current revenue 103.8 116.3 120.:L :L23.0 152.4 163.8 170.5 Current expenditure 78.9 92.7' LOO.t) :L13.7 122.6 138.1 ].8.2 Current surplus 24.5' 23.6 20.1 9.3 29.8 25.7 22.'3 Capital expenditurel 57.7 54h5 60.:L 65.8 72.1 69.6 79.6 Gross fixed investakent 39 3 39.o 36.0 35.6 36.5 32.5 3h.48 Transfers to enterprises L4.i'7 12.', 13.8 19.1 22.4 19.0 17.4 Debt amortization 2.8 2.7 9.9 10.8 11.2 14.3 20.2 Others 0.9 0.3 0.1l 0.3 1.0 3.8 7.2 Cash deficit 32.8 30.9 4o.0D 56.5 42.3 43.9 57.:3 Domestic financing 10.9 11.8 -1. 23.9 19.9 10.7 22.i3 Central Bank, net 2.f6 5.lh -0.6 0.9 5.1 -6.7 - Other borroawing, net 12.9? 6.14 31 7.3 7.6 9.8 10.8 Other sourc:es, n6t -4. 6 - -4,0 15.7 7.2 7..6 12.0 External financing 21.'3 19.:L 415 32.6 22.4 33.2 34.'i 1J Excluding transfers to and froin local authorities and Social Security Chlmges in net receivables and cas]h balances of the Treasury Source;; fIfl r y,sZ- U f L LUaLni Table 5.4 CENTRAL GOIVER.TENT CURRENT REVENUE, 1965-1971 (Millions of Dinars) 19R65 1966 1967 1968 1969 1970 1971 Actual A Actul Actual Aiua1 Act1ua Re_v7Klt. BT-TEst. Direct t8jes 13.8 20.0 19.9 21.0 28.9 31.9 31.3 Income taxeis l118.3 U 19.5fM 7: 7s7 lT7 Agricultural taxes 1.9 1.7 1.0 1.51 2.8 2.1 :3.1 Indirect taxes 6:2.9 69.1 69.8 169.9 8).6 87.7 8I4.1 Excise taxes on g oods a,nd transportation 8.7 8.8 8.9 9.6 c9.2 10.14 l:L.l Impiort duties 9.6 9.7 8.6 6.7 8.3 10.( 9.2 E4,ort taxes 3.5 3.7 2.3 2.7 1.8 1.2 1L.4 Customs fees 2.9 3.0 3.1 3.0 3.6 4.2 2.4 Turnover taxes 214.1 28.7 259.8 28.7 37.1 41.7 38B.5 (Iiports for production) (13.5) (15.9) (15-5) (13-4) (17 .5) (20.9) (19-3) (Imports for consiznption) (2.3) (2.5) (2'.6) (2.7) (3.8) (4-L) (14.0) (Domestic production) (5-1) (6.2) (6) .7) (71-) (8.4) (9.2) (B.0) (Domestic consimption) (1.0) (1-3) (1-7) (1.9) (3-3) (2. 6) (2.2) (Services) (2.0) (2.8) (3.1) (3-6) (4.1) (4-9) (5.0) Regristration tax 3.7 3.S' 3.7 4.3 l4.9 5.4 5.1 Governmient monopolies 10.4 12.0 13. 114.9 15.7 14.8 16.3 Petroleum revenues 5.3 5.1 7.2 10.6 17.5 18.(6 2;2.7 Pipeline dues 77T II7 T75TP 7T.T Oil productbion profits - - 2.3 6.1 9.9 13.7 17.8 Other taxes and rievenue 6.3 7.6 8.7 11.8 14.8 15.7 15.9 Total (Tit-le I) 88.3 101.8 10o.6 .13.:3 14:L.8 153.9 154.o Other Treasury receipts 15.5 14.5 l4.5 9.7 10.6 9.9 16.5 Total current revenue 1/ 1C3.8 116.3 120.1 123.0 1527.4 163.8 170.5 1,/ Excluding transfer receipts. Source: Ministry of Planning 'labie S.'> CENTEAL GOVEMNOMT CIuRRENT EXPENI)ITURE, 1965-1971 (Millions of Dinars) n196' 1966 196 7 1968 1969 1970 1971 Admini6tration ~~~~~~~~~~~Actuzil Actuail AcFu-ill A cFu-al A75-c-u1 R7ev.Est. Bud. Est,, Defense 4 .3 14.5 4.3 7.3 7.0 9.8 10.5 Interior and Justicet 8.7 1(.1 10.6 12.5 12.5 12.8 13.4 Finance and Economy 28.( 32.3 34.0 39.h 41.0 39.2 44.4 Education 20.3 214 . 3 26.9 30.1 36.1 43 .4 444.8 Health 8.t 9.0 9.6S 11.8 12.4 13.7 14.3 Social Affairs 15.2 5.6 7.10 8.1 8.2 10.6 11.6 Public Worke 5-. 15.9 5.8 6.4 6.3 6.5 6.7 Other 5.8 6 .3 6.9 7.2 8.0 9.4 8.1 Less: Capital E; endit-are included above -14.6 -17.0 -17.4 -18.6 -18.2 -15.2 -114,.9 Sub-total 69.7 81.0 87.7 104.2 113.3 130.2 138-.9 Extra-budgetary Payments 9.2 1.7 12.3 9.5 9.3 7.9 9. 3 ITOTAI, / 78.9 92.7 100.0 113.7 122.6 138.1 118.2 1/ Excluding transfer expenditure Source: Ministry of Plcmning Table! 6. IL EVOU,TTION OF MONETARY POSITION, 196,5-1970 (Millions of Dinars) 12 i 195i 196D6 19157 1968 1262 -1-2 I. Monetary Dosition at, end of Period Claims on Gov't netT7 71.97 78.86 85,,37 84.26 87.37 94.23 91.09 Claims on privat,e sector 129..g2 145. 48 188,.04 205.22 227.73 24.00 3 .58 Domestic credit 201.36 228,3. 273.41 289 3 10 3 23 .67 Foreign assets (net) -3-13 -6.83 -16..14 -21.73 -15.03 -7.57 - .57 Money 126.94 129.52 142.90 149.22 167.27 182.18 198.80 Quasi-mney 22.80 3224 461 44.58 49 41 ';0.';0 cioo Monetary resources 79 -77 197 193.80 .21668 232.68 254.o Counterpart fundls 17.64 23.17 21.50 20.47 25.54 291.42 34.28 Gov't lending ftnds 8.,78 9.98 11.60 12.16 15.04 16.17 20.22 Capital accounts 15.20 17,.30 19.86 22.97 23.14 27.80 32.20 Other items (net) 6.87 9,.30 19.80 18.35 19.67 21.59 20).60 2. Changes during erriid Claims on Govtt (net) 6.89 6.51 -1.11 3.11 6.86 -:3.14 Claims on private s ector 2o.09 '8.56 17.18 22 ' 1 1 1.27 1! .Domestic credit 26.98 45.07 16.07 25.62 20.13 21.h4 Foreign assets (net) -3.70 -9.31 -5.59 6.70 7. 46 f7.00 Money 2.58 13.38 6.32 18.05 14 .91 16.62 Quasi-money 9L44 9QZ7 2,97 b.83 1.09 ';! o Monetary resources 12.02 22.75 9.29 22.88 16.00 22.12 Counterpart funds 5.53 -1.67 -1.03 5.07 3.88 1t.86 Govat lending fumds 1.20 1.62 .56 2.88 1.13 14.05 Capital accounts 2.10 2.56 3.11 .17 4.66 14.40 Other items (net) 2.43 10.50 -1.45 1.32 1.92 -(.99 3. Percenta,gZejncreases during_period Dome1sticI crEPit 13.4 19.7 5.9 8.9 6.4 i3.1 Moneiy 2.0 10.3 h.4 12.1 8.9 9.1 Quasi-moIney 41.4 29.1 7.1 10.8 2.2 1L.5 Monetary re;sources 8.0 14.1 5.0 11.8 7.4 9.6 Source: IMF, Interniational Finaincial S-tatistics and Ministry of Plannino Table 6.2 DISTRIBUTION OF BANK CREDIT BY SECTOR 1964-1970 (Millions of Dinars; end of year) 196]! 1965 1966 1967 1968 1969 19i'0 Agriculture 6.80 8.02 11.10 16.40 21.50 22.18 2L4,78 Energy and traLnsport 7.34 8.57 9.49 9.23, 9.30 9.09 10,,39 Mining 3.,56 4.56 9.25 10.41 10.70 9.53 10,23 Metal works 5.74 6.43 11.25 1 3.81 114.814 16.0'5 18,.75 Construction ELnd public works 9.71 11.09 11.86 12.30 13.69 114.83 13.23 Chemical industry 1.79 2.50 4.97 5.44 5.35 5.79 4,,89 Food processing and handlLng 26.70 31.45 31.73 28.63 28.96 25.77 25,,07 Textiles 8.36 10.55 12.47 13.851 12.65 15.56 17.96 Leiatheir industry 0.54 0.51 0.71 0.67 o.64 o.88 o.88 Ot,her 22.,49 27.140 34.40 44.25 148.50 5'7.02c 70,.93 Total 93.01 111.07 137.22 155.05 166.13 176.71L 197.11 Of' which: Shcii-term 66.42 79.16 103.33 120.55; 124.87 129.414 1145.74 Long-term 26.59 31.91 33.89 34.5C 141.26 147.217 51,.37 Source: Ministry of Planning Table 7.1 AGRICULTURAL PI)CTION, 1960-1970 (In 1000 tons) Pr-odact 1960 1,61 1962 1963 196b 1965 1966 1967 1968 19659 1970 I. Hard wheat 468.o) 260.0 1417.0 688.0 455.0 547.0 390.0 36L4.0 403.0 286.0 390.0 9tft w,Theat 88.( 47.0 80.0 137.0 90. 0 111.0 515.0 56.o 81.0 88.0 166.0 BaLrley 189.C) 70.13 143.0 363.,0 181.0 250). 0 110.0 97.0 1 80.0 111.0 209.0 II. Artichokes 13.6 13.4 10.. 4 14.1 13.0 18.3 1 6.5 16.4 10.4 10.3 8.3 Tomatce s 90. 0 83.0 12h4,o 100.0 133.0 135.0 16,14.0 118.0 c96.0 153.0 170.0 Potatoes 50.0 54.o0 48.,o 61.0 51.4 57.7 73.6 75.5 68.8 61 .0 64.6 Peppers 53.0 60.0 64,,o 6k.0 77.6 95 .1 89.1 78.2 73.7 85.0 88.2 Melons and watermelons 41.0 47.0 64,.o 76.0 70.0 68.3 75.4 5S.9 85.1 75.3 106.0 III.Oranges and citrus 90.0 14-.0 71.0 104,,0 98.3 102.0 103.6 109.5 82.7 1014.2 93.0 Olives 161.() 55.1;. 1714.0 228,0 443.0 1430.0 272.0 92.0 268.0 275.0 125.0 Dates 48.( 36.3 i4.8 30o0 42.0 514.0 412.3 39.3 47.6 31.L 47.0 TIine grapss 203.0 161). . 24040 253,0 239.0 218.0 147.0 130.0 123.0 117.5 82.0 Thble grapes 22.90 26.4 31.2 18.0 16.3 21.7 19.14 18.6 20.1 22.5 14.4 An)ricct<3 114.0 9.2 12 . 13,4 b 11.0 13'. 1, .7 lf.3 14.1 :LS.1 18.o IV. Esparto grass 92.14 102.5 92.9 95.0 90.1 1 1 2.O 66. 0 109.0 866.0 1100.0 105-0 Tobacco 2.0 1.0 0.6 o.9 1.6 11.8 2.2 2.3 2.8 2.7 2.7 Cork 8.5 7.9 8.14 8.5 7.3 6.o 7.4 6.7 8.6 7.6 8.0 Sugar-beets - - 33.0 45-0 45-0 37-0 5.-0 140.0 28.0 35.0 35.0 V. .Vr:limal pro'&.icts: Cattle 24.5 25.7 22.3 27.6 25.0 2!5.7 32.0 31.4 28.3 27.4 24.7 2hleep . 39.9 30.6 26.7 36.9 36.3 43.0 54.9 53.6 57.7 50.8 53.1 Goats ) 2.7 14.5 5.9 4.7 4.1 3.1 6.8 Pigs ( i,.6 7.0 9,,8 9.3 ) 0.3 0.3 0.2 0.3 0.2 0.2 0.2 Horses( 21.2 2.7 1.8 2.1 1.6 1.5 1.7 Camels ( ) 4. 0 5.7 5.4 3.3 2.0 2.3 2.2 Source: Ministry of Planning Table 7.2 ADD2D VALUE OF AGRICULTURAL PROJOCtION, 1560-1970 - (Thousands of' Dinars; 15966 prices) Product Price: D/t 1'6o 1961 L562 19'63 1S64 1'65 1966 1967' 1968 1969 l970 -. Hard wheat L2.o 1,656 10,920 17,514 28,8356 15,110 22,97h 16,380 15,288 16,926t 12,0112 16,380 6ort wneat 314.;5 3,036 '1,622 2,760 4,'727 3,105 3,830 1,898 1,932 2,795; 3,036 (5,727 Barley 20.8 3,931 1, 456 2,S74 7,550 3,765 5,200 2,288 2,016E 3,71411 2,30C) 14,3147 Sub-total 26,623 l.3, 58 23,248 41,173 25,980 32,004 20,566 19,238 23,1465 17,357 26,454 II. Artichokes 35.1 477 1470 365 455 456 642 579 576, 365; 362 291 Tomatoes 17.1 1,535 1,-415 2,120 1,710 2,274i 2,30c 2,80O4 2,018 1,642 2,616 2,507 Potatoes 26.3 1,315 1,420 1,262 1,6014 1,352 1,518 1,936 1,986 1,80S 1,60(4 1,699 Peppers 32.0 1,656 '1,920 2,0o48 2,0148 2,483 3,0143 2,851 2,502' 2,358 2,720 2,822 Melons ard watermelons 214.5 1,005 1,152 1,568 1,862 1,715 1,673 1,847 1,1468 2,085 1,8145 2,557 Sub-total 6,032 6 ,381 7,363 7,715 3,280 9,185 1.0,017' 8,550 8,259 9,147 1(,316 III. Oranges and citrus 141.3 3,71'7 3,882 2,'32 4,29'5 4,060 14,213 4,27S 4,522 3,1416 4,303 3,841 Olives (53.23) 8,570 29,148c 9,262 12,136 23,581 22,889 14,479 14,897' 14,266 14,638 6,654 Dates 36.6 1,75'7 1,325 5142 1,D08 1,537 1,176 1,548 1,438 1,7742 1,1145 1,720 wine grapes 23.17 14,7014 3,800 5,561 5,362 5,538 5,051 3,406 3,012 2,850 2,722 1,500 Table grapes 56.o 1,282 1,;70 1,747 1,308 913 1,215 1,086 1,0I42 1,126 1,260 806 Apricots 56.o 78i4 515 672 750 616 874 823 9131 806 862 1,008 Sub-total 20,814. 1h01i93 20,716 25,14'9 36,2145 36,218 25,621 15,8214 214,206 214,934 15,929 IV. Esparto-grass 5 1462 513 1465 475 451 560 330 54'5 430 5(0 525 Tobacco 163.8 328 1614 98 147 262 295 360 377 459 4,42 442 Cork 32. 7 278 258 275 278 239 226 242 219 281 249 262 Sugar-beets 6.5 - - 215 253 319 241 368 260 182 228 228 Sub-total 1,068 c35 1,053 1,193 1,271 1,322 1,296, 1,401 1,35 2 1,819 1,457 V. Animal nrcducts: Uattle 227 5,562 5,834 5,o62 6,265 5,675 5,83L 7,2614 7,128 6,4214 6,220 5,607 Sheep 318 12,688 9,731 8,'91 11,734 11,543 13,674 17,458 17,0145 18,3149 16,1514 16,886 Goats 267) 721 1,202 1,575 1,255i 1,095' 828 1,816 Pigs 259)-LO( 1,63!8 1,330 1,862 1,767 78 78 52) 78 52 52 52 Horses 1143) 315 386 257 300 229 215 243 Camels 158) 632 901 85 3 5211 31 6 36 3 348 Sub-total 19,8814 16,895 15,1415 1c,766 18,9C614 22,075 27,1I55'! 26,3227 26, 165 23,832 214,952 TOTAL 714,)121 78,702 67,795 95,000 50,7L,O 1CO,804 84,959' 71,31t() 83,7147 76,689 79,108 1/ Figures given in this table dev-iate 1to soeie extent from the nati onal account data. Source: Ministry of Planning Table 7. 3 GIRl(SS FIXZD CAPITAL FORMATION 2T1 AGR1U'tT UT , 1e60-1970 I. Annual Investment Outlav; (in, mi, ions n - 1960 11,1 1061 1. 166 1f3 on 19/, C) ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ) IYU6 F3 £1 126 2 {.6 i9600 25,. '4 27.6 1(70 25.6 1'60/./70 236.2 T2. 2'T,pe of Tnvestment 2960-19070 'in percent J Forests and Soil Conservation 27 Irrigation and Ni,etworks 36 Livestock 6 : .qi7ipmnent 10 Frizit. - tree plantation 15 hrcers 6 Source: M>rinistry, o.' Bl&nning I'able 7 MAJOR _GRIC:ULTURAL INPUTS, 1960-:1970 1960 1961 15,62 196. iL6 19a 1966 ]a967 19,68 96 Nitrogen fertilizers (1000 t.' 1.2 13 14 26 25 17 20 22 28 4:3 Nitrogen fertilizers (1000 D.) 276 292 338 582 611 570 69)4 645 935 140() Other (mainly potassium) fertilizers (100( t.) 5 4 6 8 9 2 4 8 3 9 Other (mainly potassium) fertilizers (1000 D. ) 11.3 112 1]76 226 266 69 122 271 113 193 Phosphatic fertilizers (1000 t.) ... ... 5( 48 60 6'L Pliosphatic fertilizers (1000 V.) 926 - ... ... ... ... 1390 Insect and pesticides (1000 t-) 3 2 2 2 2 2 1 3 1 1 Insect and pesticides (iOOu -D.) 399 312 :318 344 458 412 40L 709 373 35:3 Spare parts and reparations (100C 1).) ... 21120 ... ... ... . ... 3$00 Gasoline and lubricants (1000 D .) ... 2650 45 Animal feed, concentrat;ed (1000 D.) 1900 .. . 2352 Animal feed green (forages) ... ... 3780 ... .. ... ... ... 5200 Seeds (1000 r .) ... ... OO ... * 44 oo Handtools and equipment for animal traction (1000 D.) ... ... 30 .. . 00 ... ... *- 3100 Maintenance of buildings and canals (1000D) ... ... 780 . .. , , ,.. 990 Source: Ninistry of Planning Table 7.5 FOREIGN TRADE IN AGBI(ULTURAL PFtOaJCTS, 1960-1970 (In 1000 Dinars) 1/ 1960 1961 1962 15-63 1964 1965 1966 1967 l968 196c 1970 I . a)orts 1. Animals and products 973 6t9' 07 989 1029 1925 2081 2704 2542 2210 2800 2. FisheriLes :325 378 284 1425 472 602 502 769 561 696 875 3. Cereals 6970 161S 1425 4022 3335 336 4321 97 67 115 613 4. Fruits and 'Vegetables 3346 2c89 3593 3554 4804 4595 6154 6362 4878 6431 4315 5. Fats, olive oils, wirnes 13495' 17730 20572 20225 20908 16369 17892 13402 15,628 14056 9544 6. Esparto grass and plants 15;29 1198 1254 1242 924 1101 617 904 969 883 9518 7. Food industry prDducts 30)44 2643 3759 3,403 4039 3638 4302 4L247 3447 3683 2889 8. Others 391 342 1494 636 I674 870 858 800 766 1047 '591 Total exports 30,081 27,'598 32,288 34, 496 36,185 29,440 36,727 29,285 28,858 29,121 22,545 II. Imports 1. Animals and products 1221 1676 1953 2103 1852 1571 2512 2573 3238 4865 3895 2. Fisheries 69 52 7 60 35 113 74 61 86 79 5 3. Cereals 5(54 13443 11(31 49?51 2748 8637 8222 17400 17301 15493 13802 4. Fruits and vegetables 1260 1:309 1012 729 640 579 933 626 616 1416 715 5. Fats, o'Live oils, wines 725 675 751 3541 2310 2746 5312 7584 3928 6383 5857 6. Plants 470 782 786 94 369 378 396 386 370 238 345 t. Food indust-ry products 998 795 639 687 608 640 534 645 605 780 596 8. Others (sugar, tATbacc:o, spices) 6568 6118 6490 7153 11952 5326 7277 8062 6043 7450 6308 Total. i"ports 2 ;737 22 F 15,778 2 23 ,5 ;0 33,77 37,77 767 31,S23 III. Net excports 13,716 2,748 9,619 14,738 15,631 5,450 11,467 IV. Net imports _ - - - - - - 8,052 3,329 7,632 9,378 1/ January -- November, 1970 Source: Ministir of Planning Tab le 7.6 MAIN FFATUJRB OF LAID-TENURE (1L70) AND LAND UTILIZATION kiYb)) Land Tenure ALand Utilizati on 1. Agricul~ral L~d ND. of Fana- Area of whici: North of which: Cienter & South No. of Farns 10000 ha Name of ( Area Modern Tradcitional Sremi-modern Trati A. Private 1-5 ha. 131 ,600 304 Cereals 1,562 45() 45o0 82 580 5-11D ha. 72,300 507 10-20 ha. 63,300 879 Leguminous 76 4C 32 2 2 20-50 ha. 41,500 1,287 50-100 ha. 8,ooo ';41 Others, irtcl. fallow 324 162 162 - - 100-200 ha. 2,600 372 200-500 ha. 1,150 356 Sub-total, Main Crops 1,9762 652 644 84 582 500- ha. 1400 271 Veget.ables 51 _____ -J , 4,517 Fru it-trees 1, 308 1470 838 Agrcombinants 25 68 Privaite Pastures 1,';20 1,20C0 720 Pilot, educat-ional farms . 48 Northern Co-ops 218 202 Co-ops in Center and South 347 200 To be so:Ld to young famriers . 112 To Ibe so'ld at public auction . 94 724 Sub-total A + B 5,2141 5,241 3,017 2,4?24 2. Forests 1,2140 3. &tensive Pastures (Tribal Land) 2,550 Sub-total 1 - 3 (productive land) 9,031 it. Unuseable Lancl 6,969 Total ariea of countr.y 16,000 Source: Ministry of Agriculture Table 8.1 VALUE OF SELECTED INDUSTRIAL PRODUCTS, 1966-1970 (1.000 dinars, 1966 prices) Sectors/Products 1966 1967 1968 1969 1970 Est. Mining - Crudle Oil. L4,L2 1C4, 2,U'5 2I4, 780 - Phosphate rock 16,890 15,200 17,981 13,541 16,037 - Iron ore 4,760 3,420 3,837 3,534 2,906 - Lead concentrate 1,086 1,040 1,145 1,853 1,634 - Lead (metal) 2,024 1,910 1,901 2,176 2,924 - Zinc concentrate 490 490 644 710 679 - Salt 980 1,050 1,154 920 796 Food processing - Sugar 8,200 7,980 7,872 6,463 9,852 - Beer 1,829 2,100 2,184 1,544 1,837 - Canned fruit and vegetab'.e.s 4,82 17 3,4204 3 4 5,529 - Canned fish 519 885 573 602 -450 - Olive oil 15,775 6,556 15,710 16,942 7,700 - Wine 3,200 3,398 4,040 2,971 2,020 - Biscuits, chocolate 1,671 1,780 1,694 1,771 1,700 - Flour 30,000 31,000 34,071 35,363 36,955 - Noodles, paste 17,062 17,610 19,314 20,054 21,098 - Bakery products 10,960 11,350 12,400 12,950 13,535 Textiles, clothing, leather - Threads 1,816 2,290 2,089 3,740 3,946 - Weaved material 10,951 12,462 11,133 4,963 15,796 - Clothing 4,169 3,725 3,118 3,893 3,893 Leather 1,293 1,2041 1,144 1,468 1,705 - Shoes 1,746 2,197 2,096 2,769 2,675 1/ Mechanical and Electrical - Cast iron parts 602 800 800 800 1,000 - Steel structure, metal works, metallic furniture 1,452 1,400 1,400 1,500 1,600 - Metallic packaging 2,811 2,100 1,700 1,800 2,600 Construction r.i-aterials - Cement 3,1140 3,080 3,378 3,976 3,595 - Cement works 2,037 2,000 2,142 2,207 1,567 - Red ceramics 1,074 1,360 1,296 1,532 1,871 1/ Wood and furniture - Wooden furniture 1,481 1,400 1,400 1,500 1,500 Table 8.1 (continued) >_ i967s19'O 190_9 1970 Est. =Triple- super= phosphate 6,889 8,350 9,701 8,591 9,597 - Sonp 972 880 1,399 1,1l0 1)290 - Detergents 486 900 1,105 1,137 2,165 - Paints 1.0qO 1.130 1.116 1.270 1.225 - Tires _ 371 1,519 2,138 2,010 Oil refining - Refined petrol 8,098 9,155 11,153 11,604 12,500 1/ Paper and other manufacturing - Paper pulp 1,676 2,100 2,000 2,900 2,700 - Craft paper 886 900 1,000 1,100 1,100 - Printing 1,276 1,530 1,800 2,100 2,200 1/ Estimates Source: Ministry of Planning Table 8.2: EXPORTS OF INDIJSTRIAL PRODUC'TS:1965-1970 (Millions of din3rs) 1965 1966 16 1968 .L9699 Minin Products 15.O 20.0C 26.0 28.8 32.5 1: Crude oil - 4.2 10-5 14.1 21.2 23.5 Phosp]hate 11.4 12.5 12.5 12.2 9.2 10.0 Iron ore 3.1 2.9 2.4 2.0 1.7 1.5 Salt 0.5 0.4 10-4 0.5 0.4 0.3 Manufactured Products 19.4 16.6 23.8 24.7 24.7 27.1 CannedL vegetab,les 1.5 1.4 :1.8 1.7 1.1 1.3 Canned frunit 0.7 0.9 0.7 0.5 0.7 o.8 Canneed fish 0.3 O. 5; 0.3 0.2 0-3 0.3 Bran 1.2 1.2 1.3 1.3 1.3 1.3 Cotton textiles - - 0-3 0.3 0.4 0.3 Clothing and eshoes 0.6 0.' .-3 0.4 0.2 0.4 Hides 0.5 0.4 10-3 0.3 0.5 o.6 Pig iron - 0.3 1.5 0.6 o.6 0.5 Iron lbars - - 0-4 1.8 2.0 3.3 Other metals 0.3 0.5 0.6 0.1 0.4 0.4 Lead 2.4 1.8 1.4 1.6 2.2 3.3 Construction materials 0.2 0.1 0.2 0.7 1.6 1.1 Superphosphate 8.6 5.3i 11.2 10.0 8.2 8.5 Hyper Phosphate 1.1 0.6 0.1 0.2 0.5 0.3 Essential oils 0.5 0.4 ID.3 0.3 0.5 0.6 Refined oil 0.1 0.5 1.1 2.3 1.5 1.1 Paper pull) 1.1 1.8 .1.8 1.7 1.9 1.9 Carpets 0.3 0.4 0.5 0.7 0.8 1.1 A TOT'AL 34.4 36.6, 498 5L 57-2 62.4 /i Excluding unspecified items. Souxce: Ministry of Planing Table 8.-3: GROSS FIXED CAPITIAL FORMATION lbN INDUSTR]4 19,60-1970 (In milliorns of cuirrent dinars) 1.L960 !961 196 1963 1964 195 166 97 16 ~].969 190 Q2O91 1J965/C I. Minir 2.8 3. .U Y.U 7.0 2U.2 21.2 16.1 i 6. 2 £2.2 I.6 131.6 100.I4 Public 0. . j962 T IT T -7- -7 Private 2.0 2.9 . 5' 2.8 3.5 7".1 3.3 2.3 7. 7 6.2 7.1 LI9. L 33.7 i. Oil 2.0 2 4 . 7. . 15-5 158 128.8 136 4 8.9 100.7763 Public - - 2. 8 4.2 1.7 85.4 12.5 10.5 5.9 3.5 TU51.3 42.6 Private 2.0 21.9 4 5 2.8 3.-5 7.1 3.3 2 .3 7.7 6.2 7.-1 49.4 33.7 2. Othere 0.8 0.9 0.7 2.0 2.4 4. 7 3. 3.3 2.6 30.9 24.1 Public 09 0. 2.5 __3 Y 4 0_ Private - - - - -. II. Manufacturin 176g . 21.3 26 12.712. 11.4 1.- 39.7 96.1 Puibli 1.1 .7 6.1 5.6 18.3 2 F6 11.1 9..9 1. 9 1.1.3 11L.9 78.1 Private 0.6 0i.6 0.8 1.8 3.0 0.1 1.6 3.6 3.5 5.1 4.1 2li.8 18.0 1. Foo-d Industries 03 i5 1.2 24 1.0 .13 2.0 3.. 2.8 ~ -31.2 12.9 Public 0.2 4.2 1.0 1.3 0.9 1.3 1.7 2.7 2.0 1.5 0.8 17610.0 Private 0.1 CI.3 0.2 1.1 0.1 - 0.3 O. L. 0.8 0.8 0.6 4.7 2.9 2. Te3tilee, clothing, ehoes 0.6 1. -1 0.7 134 39.7l 1.8 1.2 0.49 2- 20.2 Public 0.5 0.9 0.4 1.0 3.2 9.6 2.6 1.1. 0.9 1.9 0.3 22.4 1. Private 0.1 0.2 0.3 0.3 0.3 0.1 0.5 0.7. 0.3 1.6 0.6 5.0 3.8 3. Mechanical and Electrical 0.2 C0.1 O.~ 1fl 12.3 1l. 2j7 2.0C . 2.1 3.44082. Public - 0.05 0.4 1.2 12.0 14.5 2.4 1.4i 1.2 0 2.5 36,42-7 Private 0.2 o.o6 0.1 0.1 0.3 - 0.3 0.6 0.5 1.3 0.9 L4.4 3.6 4. Building materials 0.1 CI.-1 0.2 0.6 2.1 107 31 34~ . 2.4 0. 5912.8 Public 0.09 0.-05 0.1 0.4 1.8 0.7 3.1 3.3 2.8 2.1 0.1 14.5 12.1 Private 0.01 0.06 0.1 0.2 0.3 - - 0.1. 0.1 0.3 0.2 1.4 0.7 5. Cheimicals 0.2 (4 3 0.~ 4 094.3 .. 1.1 1.0~ 1.2 2- . 4511.0 public 0.2 0.3 0.3 0.15 0.3 0.3 0.9 0.4 0.6 2.0 4.7 10.2 8.9 Private - -.0.1 0.15 2.0 - 0.2 0.6 0.6 0.3 0.4 4.3 2.1 6. Wooid and Furniture -- 0.2 0.1 - 0.1 0.4 0 04 0.2 2.4 .2 2.0 Public - *0.2 0.1 -0.1 0.2 - - - - 0.6 0.3 Private - -. - - - - 0.2 0. 5 0.4 0.2 0.4 1.7 1.7 7. Paper and, other manu- factures 094 0.2 .1 14 0.1 0.1 Q0.3 1.1 1.2 2 34- 10. l.8 Public 0.3 0.2 3.7 1.4 0.1 0.1 0.2 0.14 0.4 3.6 2.9 13.37- Privyate - -. - - - - 0.1 0.7-' 0.8 0.6 1.0 3.2 3.2 GRA1M T(YTAL 4- 10.1 1L.9? 16.4 28.9 46 . 9 8 29.0 27.6 29.2 30.0 271.316. Public 1.7- - 118 2-TIT. ? 27 2&T.T T7 T- iTIN 1971 Private 2.6 3.5 5.3 4.6 6.5 7I.2 4.9 5.9 11.2 1.1.3 21.2 74.2 5. Source : Mlinistry of IPlannirie. Table 8., TOURISMI, 1965-1970 1965 1066 1967 1968 1969 1970 Annual Investment (millions of' dinars) 6.5 10.6 12.8 13.8 1i.5 16.1 Total lbed capacity. 9,616 17,061 18,786 24,709 31,691 37,185 Number of 'Visitors (thousands) -L66 219 :231 330 373 411 Visitors' bednights (thousands) 1,:L29 1,639 2,030 3,082 3,406 3,819 Average Length of Stay (days) 6. 8 7.5 8.8 9.3 9.2 9.3 Tourists' Receipts (millions of dinars) 9.2 13.6 16.4 22.2 26.1 29.0 Daily Expenditure (Dinars/Tourist) 83.1 8.3 8.1 7.2 7.7 7.6 Soirce: Direction of l'ouri.sr; Ministry of Plamningy Table 8Q HIQGHAY NETWORK 19 Carriageway Total % of Administrative Classifications Width Lengh Total Prma 2/ Secondary / Tertiary 3/ (m) (1cm) tinj) (cm) (km Maintained Roads Paved 6.5 and over 639 (4%) 5.5 - 6$5 1,909 (12%) 4.5 - 5.5 2,886 (19%) less than 4.5 1.872 (12%) 7,306 (47%) 3,198 3,024 :L,08 Grravel 5.5 - 7 882 (6%) 4o 271 571 Earth 4.5 - 6 2.973 (19%) 311. 1,135 :1,527 Total maintained roads 11,161 (72%) Unmintained Tracks 3 - 5 JL33L (28%) 02 1.22I 2,608 TOTAL HIGHWAY NETWORK 15,h95 (100%) 4,051 5,654 5,790 1/ Routes de Grand Parcours (GP) 2/ Routes de MovAnnAs rnmmimi et-ions (Mc) RniRoutes VirinaIA dEtat (RVJ) Sorce:pn SGEVT-1RGEM "V.+- iA A= I Mntre+ien4 Route" -rto )--ber I1970 Table 8.6 ENROLIMENTS IN PRIMARY EDUCATION by Grade, 1966/67 - 1970/71 (in 1,000) 1966/67 1967/68 1968/69 1969i70 1970/71 First Year (grade) 178.2 169.9 192.2 191.8 ... (of whom First Entrants) (128.0) (117.1) (144.1.) (137-9) Second Year 149.4 154.0 152.9 168.7 ... Third Year 138.4 147.5 149.4 153.1 Fourth Year 119.0 128.2 131.2 139.7 ... Fifth Year 1o5.8 115.3 117.3 127.7 Sixth Year 87.0 95.8 101.9 119.6 Total 777.7 810.8 845.0 900.5 924.8 Source: Ministry of Education Tabie o.7 ENRHULLMTS IN SECONDAKI iUUGA 1TION by Grade. 1966/67 - 1970/71 (in 1,000) 1966/67 1967/68 1968/69 1969/o 1970/71 A. General Secondary Education (Enseignement secondaire long) First Year (grade) 22.3 23.8 26.7 43 9 Second Year 17.3 19.9 21.7 41.5 ... Third Year 11.3 14.4 17.6 34.5 *- Fourth Year 8.6 10.0 16.4 12.4 Fifth Year 7.2 8.5 11.1 13.0 Sixth Year 3.6 4.0 4.9 8.o Others 0.4 _- Tot;al 70.8 80.6 98.5 153.2 160.9 B. Seconclary Vocational Education (Enseignement secondaire professionnel) First Year 12.1 1L.0 18.2 0.1 Second Year 8.8 Lo.h 12.9 1.9 Third Year 6.6 7.7 10.2 0.1 . Fourth Year - - 7.9 Others L.3 4.4 0.2 - Total 31.9 36.5 )1.6 10.0 20.9 GRAND TOTAT. 102.7 117-1 139.) 163.4 181.8 Source! Ministrv of Fhuc-,tinn Table 8.8 UNIVERSITY ENROLLMENTS E FACULTY 1966.67 - 1970/71 Faculties 1966/67 1967/68 1968/69 1969/70 1970/71 Law 1,307 1,552 1,868 2,136 2,o65 Humanities 1,435 1,530 1,775 2,368 2,697 Science 1,597 1,779 2,141 2,505 2,242 Medicine 185 231 347 453 602 Theology 528 539 527 923 952 Agriculture - 204 272 330 Engineering - - - - 251 Higher Teacher Training / (113) (107) (648) (216) (280) Higher Law School 286 245 163 137 219 Commerce 86 73 83 99 160 Intermediate Teacher Training 70 533 92 576 623 Total 5,903 6,686 7,668 9,413 9,811 (of whom Foreign Students) (498) (435) (544) (393) (361) 'j Numbers are already contained in enrollment figures for Humanities and Science Faculties. 2/ Became autonomous. source: 1inistry of Education Table 9.1 PEIICE INDICES (1962 = 100) WholeBsale Prices Costt of LivingL /1 OtVier Domesti cally General Industrial Produced Imported General Personal Leisure and Years Index Food -Goods Goods Goods Index Food Housing, Transportati on Clothing Care Miscellaneous 1962 100 100 100 10D 100 100 100 100 100 100 100 100 1963 105.3 107.0 102.8 104.1 107.1 102.7 101.7 100.1 100.5 113.4 105.0 100.5 1964 110.6 109.0 112.7 104.8 119.0 107.0 106.9 103.9 109.7 114.6 107.6 103.9 1965 124.7 117.1 L 135.0 115.3 138.4 114.1 115.2 109.6 116.9 120.5 111.8 107.6 1966 129.0 120.0 142.3 119.4 143.4 118.5 119.3 113.6 122.0 126.3 118.5 111.2 19,67 133.8 127.31 143.4 127.2 143.5 122.0 123.0 '113.2 127.6 127.5 122.0 110.8 1968 138.1 133.9 144.2 133.0 145.5 125.0 125.9 116.1 139.8 128.7 132.2 116.9 1969 139.9 136.1 145.7 134.7 147.6 130.2 132.6 122.5 150.1 129.0 129.5 117.8 1970 1145.5 139.14 1514.14 1140.8 153.3 131.6 134.5 121.6 151.0 130.6 131.4 125.0 1970 (Febr.) . . . . 129.1 129.6 123.2 150.4 129.9 130.9 123.6 1971 (Febr.) . . * * * 145.9 157.8 125.4 151.4 134.7 132.9 128.1 /1 TuniLs Source: Institute of Statistics