Overall regional bright spots and commitment to pan-African free trade agreements are expected to positively bolster Tunisia’s resiliency. International perspectives support an optimistic outlook for continued regional growth. Moody’s Inside Africa, (October 2019) cite Egypt’s rate cut and easing inflation as supporting bank revenue and economic growth. Recent actions by the Central Bank of Morocco, are also viewed by Moody’s as positive for the Moroccan banking sector and by implication, Moroccan ownership interests in the Tunisian financial sector.
Trade alliances for Tunisia, North Africa, and the continent are positively recognized by AmCham Tunisia, although remaining neutral on recent political developments. Fitch’s Africa Monitor (November Edition 2019), highlights Tunisia’s “challenging policy environment” post-election, coupled with a “stormier global environment”. For Africa generally, Fitch Solution reports strengthening of trade agreements including the May 2019 African Continental Free-Trade Area — the world’s largest free-trade zone. Economic and trade integration for Africa are expected to promote higher growth and create new investment opportunities. This is good news for the investment community. Tunisia trade and investment benefit from its entry into COMESA last year and, as announced at the September meeting, it’s proposed entry by year end 2019 to the COMESA Free Trade Area.