Tunisia raises petrol prices to trim budget gap
TUNIS, Sept 2
TUNIS, Sept 2 (Reuters) - Tunisia, which has forecast a budget deficit of 6.6 percent of GDP this year, is cutting fuel subsidies and raising the price of petrol by 7.2 percent.
The government on Sunday lifted the price of lead-free petrol to 1.470 Tunisian dinars per litre ($0.93) from 1.370 dinars. The last increase, from 1.320 dinars, was announced in December 2010.
The government sets the price of domestic fuel products, in part through a subsidy which this year will be capped at 1.3 billion dinars compared with 1.5 billion in 2011.
Tunisia's central bank raised its key interest rate by 25 basis points to 3.75 per cent on Wednesday to fight rising inflation in the economy, which is gradually recovering from last year's political turmoil which toppled President Zine al-Abidine Ben Ali and triggered the Arab Spring uprisings. (Reporting By Tarek Amara; Editing by David Cowell)
- Tweet this
- Share this
- Digg this
- Qatar will not host 2022 World Cup, says FIFA's Zwanziger
- Tesco cuts profit outlook again and suspends staff after accounting error |
- Echoes of Law in 1974 as City's Lampard shuns celebration
- Siemens splurges $7.6 billion on Dresser-Rand in U.S. shale market bet |
- Alibaba issues additional shares to raise IPO total to $25 billion - report