The 2024 annual report of the Central Bank of Tunisia (BCT)handed over to the President of the Republic on August 20, 2025, presents the protruding facts of the Tunisian economy and operations of the Central Bank. According to the report, the BCT interventions on the money market recorded a drop, located on average at 13.688 MD in 2024, against 14.604 MDT the previous year.
Evolution of monetary policy instruments
The decrease in interventions has affected almost all of the instruments, with notable reductions for main refinancing operations (-2.531 MDT) and exchange swaps (-14 MDT). At the same time, the report indicates that the BCT has increased the Firm purchasing operations (+1,649 mdt) and introduced a new refinancing instrument at six months In October 2024, which resulted in an average annual envelope of 234 MDT.
These interventions contributed to a reduction in the average deficit on the monetary market, which established at 176 MD in 2024, against 293 MDT a year earlier.
Assessment of the Tunisian economy in 2024
The report of the Governor of the BCT highlights the main economic trends of the year. Growth has reached +1.4%after stagnation in 2023. This development is explained, according to the report, by a positive performance in the agricultural sector and in services, which compensated for the decline in industrial activity.
In terms of public finances, the report notes a Reduction of budgetary deficit at 6% of GDP in 2024 and a Decrease in the public debt rate at 81.2% of GDP. The current deficit was also contained, and the foreign currency assets were maintained at 121 days of importation. The inflation rate, on the other hand, gradually fell to 6.2% at the end of the year.
BCT actions
In 2024, the BCT maintained its 8% key interest rate throughout the year. The report also mentions the implementation of several strategic projects, including the launch of the digital payment platform “Tunichèque”.
For 2025, the report evokes economic growth which could be strengthened in Tunisia, while remaining cautious in the face of a fragile global context.
Download the BCT 2024 annual report: https://www.bct.gov.tn/bct/siteprod/documents/ra_fr.pdf
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