By Fareed M. A. Hassan
ISBN-10: 0821359746
ISBN-13: 9780821359747
ISBN-10: 1417593733
ISBN-13: 9781417593736
Tunisia has effectively shifted from resource-based exports ruled by means of oil and fuel to manufactures and companies. genuine GDP development has been always emerging and Tunisians this present day get pleasure from greater than two-and-a-half instances the genuine earning that their mom and dad had thirty years in the past. speedy development made attainable a outstanding development in social symptoms and a decline within the poverty cost from forty percentage in 1970 to four percentage in 2000; with the rest poverty predominately rural. The Bank's process because 1990 has been to help macroeconomic stabilization, pro-market structural reforms to foster progress, and social courses in addition to human improvement. regardless of major improvement development and the passable final result of the Bank's counsel application, shortfalls in a few parts, mixed with the extra aggressive setting that Tunisia will most likely face sooner or later, pose dangers to maintaining its extraordinary improvement functionality. This evaluate recommends that the financial institution should still proceed to aid bettering the surroundings for personal zone improvement and adorning competitiveness, because the kingdom seeks to combine extra into the worldwide economic climate. destiny financial institution courses also needs to aid boost rural associations to help effective output and enter markets (for instance, land and rural finance) whereas retaining social and political balance via greater specified safeguard nets. eventually, the financial institution must also fill the gaps in center diagnostic monetary and region paintings through finishing a public expenditure evaluation, with the purpose to aid construct capability to prioritize public spending and supply the foundation for measures to successfully tackle schooling enlargement. This kingdom assistance overview used to be ready in collaboration with the Islamic improvement financial institution.
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Additional resources for Tunisia: Understanding Successful Socioeconomic Development (Operations Evaluation Study)
Sample text
Initial progress was made in conjunction with ITPAL, with the partial freeing of interest rates, although ceilings were maintained for a number of sectors. A further initial and partial increase in competition was achieved in conjunction with the SAL, when certificates of deposit and commercial paper were introduced and a branch of a foreign bank The reform and was opened in Tunisia. modernization of the Steps were also taken at financial sector has that time to remove caps on interest rate spreads.
Institutional changes in Tunisia’s policy, regulatory, and legal environment were accomplished with the help of Bank assistance. 2n). New structures were established and now are operating successfully, such as the bank supervision and the associated revised banking law, and the new regulatory framework for mutual funds that complied with international standards and represented good progress in ensuring an adequate legal framework for the sector.
14 Public spending on education is already high (27 percent of total public expenditure and more than 7 percent of GDP in 2003), and cannot be expected to expand significantly, thus further improvements in efficiency need to be pursued. 15 With the upcoming completion of the EUAA, the projected pressures on the budget for higher social spending, and the need to accelerate the reduction of the public debt by more ambitious fiscal consolidation, improving the efficiency of social expenditures is becoming of paramount importance.
Tunisia: Understanding Successful Socioeconomic Development (Operations Evaluation Study) by Fareed M. A. Hassan
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