Moez Hadidane: Tunisia has recorded a 85% price increase over the last ten years
The expert and university professor of economics, Moez Hadidanefelt that citizens felt a difference in the rate of inflation communicated by the National Institute of Statistics (NSI) and price increases in markets and supermarkets due to the products taken into account in the estimates. He meant thatNSI should consider revising the indicators taken into account.
Invited May 9, 2022 by Hatem Ben Amara on National Radio, Moez Hadidane explained that the reported inflation rate was an average. ” The inflation rate recorded for food is 8.7%. This is an average. L ‘NSI a indicates, for example, that the price of eggs has evolved by more than 20%… L ‘NSI estimated to food represents 26% Tunisian spending “, he added.
The expert clarified that housing and energy consumption represent 19% Spending. He felt that these quotas should be revised. He recalled that the teaching, according to the department, represented only 3.2%. ” However, education is very important for Tunisians. We must take into account the development of tuition fees in private companies … That is why inflation on 7.5% does not correspond to reality “, he said.
Moez Hadidane explained that prices have risen by 85% over the last ten years. On the other hand, the cumulative growth rate since 2010 has not been exceeded 12.5%is 1% Per year. Disposable gross national income, in turn, increased 89% if the calculation is made in dinars. The expert explained that the calculation in dollars showed a decrease in this rate of 2.5% for the period 2010-2022. ” We have been destroying the wealth and income of the Tunisian for ten years. The national disposable gross income has increased from $ 4,000 to $ 3,900 … that minimum wage in dinar increased between 2010 and 2022 with 58%. The dollar calculation shows that the latter has fallen by 26% in the same period … The value of the dollar against the dinar increased 110% over the course of twelve years “, he reported.
Moez Hadidane confirmed that Tunisia was in a major financial crisis. He explained that assimilable government bonds up to 808 million dinars were to be redeemed on May 9, 2022. ” According to the Tunisian central bank, the Treasury’s current items are 2,500 million dinars. However, the monthly salaries cost the state 1,600 million dinars. The balance of the Treasury will continue to decline since May 11 corresponds to the date of redemption of government bonds with a total value of 700 million dinars. The Treasury sometimes goes on to judge prey, that is, the state will propose new well of taxes at a better price, but can be redeemed in 2030. This was proposed for cash vouchers on May 9th. No bank accepted proposals », he revealed.
The economics expert recalled that the International Monetary Fund (IMF) demanded a rescheduling of Tunisia’s debt. He confirmed that the IMF had considered Tunisia unable to meet its medium- and long-term commitments. ” Debt restructuring does damage the reputation of the state and companies, but we could find ourselves in an obligation to do so. Several countries have done this, including Egypt, Turkey, Morocco and Russia … More than half of the public companies’ data needs to be examined in more detail. We do not care about productivity anymore … This is not a problem with good governance … We must privatize! », he assessed.
Returning to Tunisia’s membership of the Asian Infrastructure Investment Bank, Moez Hadidane explained that this institution had been set up by China to compete with the IMF. He wondered about the impact of this choice and the help that this institution could provide. He believed that this decision did not affect the relationship between Tunisia and the IMF.
In addition, he explained the increase in 73% below 1 quarter of 2022 of investments due to the weakness in the economic indicators for the year 2021.