AGP Executive Report

Tunisia Budget & Debt: Tunisia’s 2026 budget process shows the state mobilising nearly 40% of its domestic borrowing needs, with public debt servicing projected at about TND 23.057bn (TND 9.5bn external, TND 13.5bn domestic) and a 2026 deficit near TND 11bn. Clean Energy & Finance: MIGA backs a 100 MW solar project in Sidi Bouzid with guarantees up to €13.05m, supporting a 20-year deal feeding STEG under a long-term PPA. Banking Compliance: STB becomes the first public bank in Tunisia to obtain AML 30001 certification after reforms to strengthen anti–money laundering and counter-terror financing controls. Trade & Liquidity: Afreximbank signs off a $500m loan to Tunisia to repay trade debts and fund essential imports, citing ongoing pressure on Africa’s development finance. Regional Trade Integration: COMESA’s secretary-general says Tunisia can deepen participation in the bloc to boost trade, investment and business links. Business & Tourism Links: Jet2 launches direct Birmingham–Tunisia flights for summer 2027, while Italy’s GMI explores expanding investments in Tunisia. Public Transport: Sfax’s transport company adds four articulated buses costing nearly TND 2.5m to modernise mobility. Security & Reporting: CTAF data shows suspicious transaction reports for terrorism financing in Tunisia rose from 446 (2020) to 1,334 (2025), with banks and the National Post Office dominating reporting.

Mediterranean Trade Diplomacy: Barcelona Chamber chief Josep Santacreu told EU institutions that the private sector should be directly involved in rolling out the Pact for the Mediterranean, with Tunis chamber president Moncef Ben Jemaa among the delegation pushing for a stronger business voice in Brussels. Tunisia Financing: Afreximbank approved a $500m loan to Tunisia to help repay trade debts, fund essential imports and ease foreign-currency liquidity pressures. Regional Integration Push: COMESA Secretary-General Chileshe Kapwepwe is in Tunis to deepen Tunisia’s participation in the bloc, including a Women in Business forum and trade fair aimed at boosting partnerships. Public Transport in Sfax: The Sfax regional transport company took delivery of four new articulated buses (about TND 2.5m) to modernize mobility. Security & Compliance Trend: Tunisia’s Financial Analysis Commission reports suspicious transaction reports for terrorist financing rose sharply from 446 (2020) to 1,334 (2025), with banks and the National Post Office dominating filings. Student Costs in France: France tightened rules for non-EU students, requiring proof of at least €877.50 per month—impacting Tunisian applicants from Aug. 1, 2026.

Regional Trade & Women in Business: COMESA’s secretary-general Chileshe Kapwepwe is in Tunisia to deepen participation in the bloc and bring institutions closer to Tunisian stakeholders, with a Women in Business Forum and Trade Fair in Tunis on July 1-3. Public Finance & Risk Perception: Tunisia slipped to 118th out of 150 in the 2026 Henley & Partners Global Investment Risk and Resilience Index, with legal and regulatory weaknesses flagged as the biggest vulnerability. Energy Sector Stress Test: STEG’s debt is about TND 7.356bn (as of June 23) and unpaid receivables about TND 6.061bn; lawmakers reviewed draft guarantee agreements tied to IBRD financing to support reforms and energy security. Monetary Policy Watch: Tunisia’s central bank kept the Money Market Average Rate steady at 6.99% for the fifth straight month in June. Anti-Money Laundering Trends: CTAF analysis shows suspicious transaction reports rose from 446 in 2020 to 1,334 in 2025, with banks and the National Post Office dominating reporting. Local Transport Upgrade: Sfax’s transport company added four new articulated buses (nearly TND 2.5m) to expand public mobility.

Tunisia’s Money Policy: The Central Bank of Tunisia kept the Money Market Average Rate (TMM) steady at 6.99% for a fifth straight month in June, with the key rate unchanged at 7.00% since June 3—signaling stable borrowing costs for banks, credit and investment. Digital Connectivity: Orange Tunisia moved ahead with the operational launch of the MEDUSA submarine cable, aiming to boost international bandwidth, resilience and faster links to European digital hubs. Cross-Border Payments: African central banks and infrastructure providers agreed that interoperable payment systems are key to cutting costs and boosting intra-African trade, with Tunisia among the countries involved in the push for standards and local-currency settlement. Human Rights & Business Climate: A Tunisian lawyer and journalist, Sonia Dahmani, received a second conviction this year tied to criticism of prison conditions and anti-migrant policies, underlining the risks for civil society and the wider operating environment. Energy Transition & Fisheries: WWF North Africa backed Tunisia’s first operational artisanal fishing boat using solar-powered electric propulsion in Djerba, a potential model for a cleaner blue economy. France Student Visa Rules: France tightened financial requirements for non-EU students from August 1, 2026—directly affecting many Tunisian students planning studies.

World Cup Knockouts: France start the Round of 32 as heavy favourites against Sweden at MetLife Stadium, with Kylian Mbappé and Ousmane Dembélé driving a dominant Group I run. Sports Leadership: Netherlands coach Ronald Koeman stepped down after the Dutch were eliminated by Morocco on penalties, adding pressure to the next rebuild. Digital Connectivity: Orange Tunisia activated the MEDUSA submarine cable, boosting international bandwidth and resilience for Tunisia’s digital economy. Payments & Household Stress: Tunisia’s central bank data shows 51.2% of direct debit payments were rejected by number in Q1 2026, a sign of cash-flow strain hitting small debtors. Energy & Utilities: Parliament’s finance committee approved state-guaranteed STEG loans (~TND 1.4bn) to fund restructuring, while lawmakers warned the full fix could require at least TND 12bn. Phosphate Outlook: Tunisia’s 2026-2030 development plan targets phosphate output near 11.4m tonnes by 2030 and aims to restart dried phosphate exports. Regional Trade Links: Libya and Tunisia firms held B2B talks in Tripoli to push construction and contracting deals, with Tunisia reporting rising exports to Libya.

Digital Connectivity: Orange Tunisia has officially launched the MEDUSA submarine cable, boosting international bandwidth and redundancy via its Bizerte landing station to strengthen Tunisia’s digital transformation and service reliability. Energy Transition: WWF North Africa backed Tunisia’s first artisanal fishing boat powered entirely by solar-electric propulsion in Ajim (Djerba), a pilot meant to cut emissions and offer a cleaner model for coastal communities. Regional Trade & Construction: Libya and Tunisia firms met in Tripoli to push B2B deals in construction and contracting, with Tunisian exports to Libya up 37% over four years, especially in metals and building materials. Investment Climate: Tunisia’s PM presented an upbeat outlook at the 22nd Tunisia Investment Forum, citing 2.6% GDP growth in 2025, a 30%+ rise in FDI, and a push for full digitalisation of investment procedures through a new National Investment Platform. Startups & AI: Propeller wrapped Kernel Camp, graduating five AI startups from Tunisia, Morocco, Jordan and Egypt, with mentorship from major tech investors and a plan for a second cohort. Blue Economy & Jobs: A solar-powered fishing initiative and the broader investment push underline Tunisia’s push to modernise sectors while attracting capital and partnerships.

Tunisia Investment Forum: Prime Minister Sarra Zaafrani Zenzri told investors the economy is gaining momentum, citing GDP growth of 2.6% in 2025 (up from 1.4% in 2024), a 30%+ rise in foreign direct investment, and 4,296 foreign firms with TND 53bn in total investment. She also flagged the 2026-2030 plan, full digitalisation of investment procedures via a National Investment Platform, and reforms covering startups, foreign exchange, hydrocarbons and mining, with energy sovereignty a key pillar including the ELMED interconnection and renewables. Energy & Trade: Local refineries in North Africa are still hunting feedstock; Libya’s crude is finding new buyers as Nigeria imported about 2m barrels from Libya in May 2026, underscoring shifting regional energy flows. Tax Compliance: Tunisia moves to tighten on-site consumption taxation: from July 1, 2026, more businesses must install digital fiscal cash registers to improve transaction traceability and curb evasion. Consumer Watch: The Tunisian Organization for Consumer Guidance calls for urgent market checks on tomato paste quality, urging regulators to verify compliance with declared standards using the Brix index and publish inspection results transparently. Innovation & Startups: Open Startup marked its 10th anniversary in Tunisia by launching “The Science Road,” a new platform to accelerate African science and deep tech ventures toward commercial growth, with an early-stage investment arm (“Openers First”). Regional Business Links: Tunisia pushes export and business ties abroad, including new deals with Ghanaian buyers, while Tunisia–Serbia talks in parliament highlighted cooperation in digitalisation, IT, the economy and education.

World Cup Knockouts (Tunisia angle): The Round of 32 kicks off Monday with Brazil vs Japan in Houston, Germany vs Paraguay, and the marquee Netherlands vs Morocco in Monterrey—three games that set up the next stage, with Canada awaiting the winner of the Netherlands-Morocco tie after beating South Africa. Parliament & diplomacy: In Belgrade, Tunisian lawmakers’ ties with Serbia were discussed, with emphasis on digitalisation, IT, the economy, education and cooperation around EXPO 2027. Vocational reintegration: Tunisia’s Tanit Women’s Rehabilitation Center (El Razi State Hospital) has set up vocational workshops—training kitchens plus hairdressing and beauty—to help women recovering from addiction re-enter work and society. Digital public services: Tunisia’s parliamentary committees are reviewing the 2026-2030 development plan, including sessions on health, migration and Tunisians abroad, and administration/digitalisation/governance. Startup & science economy: Open Startup marked its 10th anniversary in Tunisia by launching “The Science Road,” aiming to move African deep-tech and research-led ventures toward commercial scale, with a new early-stage investment arm. Business & markets: Morocco’s startup ecosystem grew 30.7% in 2026, while Tunisia climbed in regional rankings—intensifying North Africa competition for innovation capital.

Digital Economy: Tunisia’s National Business Register says all services will move to fully digital filing starting July 1, urging firms to secure their digital identity now (DIGIGO for legal entities, Hawiya for individuals) to avoid transaction disruption. Public Services: SONEDE reports a drinking-water cut in Sejnane (Bizerte) after a sudden breakdown on the main pipeline feeding the treatment station; supply should gradually resume from 4 p.m. Monday. Labour & Health: Tunisia’s Ministry of Social Affairs opens an external application-based competition to recruit 6 medical labour inspectors in 2026, with applications starting Aug. 31 and the candidate list closing July 30. Energy & Industry: Hitachi Energy wins a major €770m contract for Elmed converter stations, the first direct-current interconnection between Europe and North Africa (Italy–Tunisia link). Regional Diplomacy: Italy and Tunisia challenge Libya’s unilateral EEZ claims at the UN, strengthening Greece’s position in the Mediterranean maritime dispute. World Cup Business Angle: CAF chief Patrice Motsepe highlights African progress at the 2026 World Cup, with nine African teams reaching the knockout stage.

World Cup Round-of-32 Set: The 48-team group stage is over and 16 sides are eliminated, with Tunisia the only African team to exit after failing to score points; the knockout bracket now begins with matches like Canada vs South Korea and Brazil vs Japan. Tunisia in the Spotlight: Tunisia’s World Cup ended with a tough run that included a mid-tournament managerial change and heavy defensive setbacks, while Tunisian fans also face a new reality as the team heads home. Tunisia-Related Legal Update: Tunisia’s appeals court upheld an eight-year prison sentence for independent journalist Zied el-Heni, keeping pressure on media freedom after his criticism of judges. STEG Financing Pressure: Tunisia’s power and gas utility STEG reported debts of about 7.356bn dinars (as of June 23) and unpaid receivables of 6.061bn dinars, prompting lawmakers to approve guarantee agreements to secure new funding. Local Tragedy in Tunis: A fire at Sidi Abdessalem market in Tunis killed one trader; authorities suspect an electrical short circuit and say the blaze was contained after several hours. Labour Market/Health: Tunisia’s Ministry of Social Affairs opened an external competition to recruit six medical labour inspectors in 2026, with applications starting Aug. 31. Energy/Trade Diplomacy: Italy and Tunisia challenged Libya’s unilateral EEZ claims at the UN, strengthening Greece’s position in the Mediterranean maritime dispute. Tech Costs Hit Consumers: Global memory-chip shortages linked to AI demand are pushing up prices of consumer electronics, including Apple iPads and Macs and Xbox consoles.

Tunisia Justice Watch: Tunisia’s appeals court upheld the one-year prison sentence of independent journalist Zied el-Heni, after he criticised judges over alleged wrongful convictions, with prosecution tied to remarks made via public telecommunications networks/social media. Energy & Finance: STEG’s debts reached about 7.356 billion dinars as of June 23, while unpaid receivables were around 6.061 billion dinars; lawmakers discussed two guarantee agreements to support continuity and the 2024-2028 performance contract. Banking & Inclusion: AMEN BANK led a 160 million dinar syndicated loan for Enda Tamweel, backed by a consortium including BIAT, ATB and BTK, aimed at strengthening funding for micro-entrepreneurs and underserved groups. Trade & Investment: The Central Bank governor told the 22nd Tunisia Investment Forum that restored macro stability must be reinforced through faster reforms, with investors prioritising predictability, institutions and non-debt inflows like FDI. Industry & Jobs: Swedish Autoliv inaugurated an 84 million dinar extension in El Fahs, localising the full steering-wheel production chain; Tunisia also reported progress on investment and development project acceleration. Regional Business: Tunisia and Algeria discussed new investment opportunities, including a proposed free trade zone along the border to boost trade and jobs.

STEG Finances Under Pressure: Tunisia’s electricity and gas utility (STEG) reported debts of about 7.356 billion dinars as of June 23, alongside unpaid receivables of roughly 6.061 billion dinars, prompting lawmakers to examine two guarantee agreements to secure new funding for continuity and the 2024-2028 performance contract. Energy Infrastructure Push: Terna and STEG awarded Hitachi Energy an about €770 million contract for Elmed HVDC converter stations, the first Italy–Tunisia Europe-Africa interconnection, with works planned in Italy and Tunisia. Banking & Inclusion: AMEN BANK led a 160 million dinar syndicated loan for Enda Tamweel, backed by BIAT, ATB and BTK, to support micro-entrepreneurs and underserved regions. FDI & Stability Message: The BCT governor told the Tunisia Investment Forum that restored macro stability must be protected through faster reforms, with growth driven by productive investment and exports. Tunisia–Algeria Trade Plan: Tunisia’s ministry says a study is completed for a free trade zone along the border, with a joint working group to pick the site and define mechanisms. Industrial Expansion: Swedish Autoliv inaugurated an 84 million dinar extension in El Fahs, localizing the steering-wheel production chain. Aviation Demand Watch: With World Cup travel surging, Kansas City airport expects 40,000–45,000 passengers on peak days, highlighting broader logistics pressure affecting travel-linked business.

Energy Infrastructure: Terna and STEG have awarded Hitachi Energy an ~€770m contract for converter stations for the Elmed HVDC interconnector, the first Europe–North Africa electricity link, with stations in Italy (Partanna) and Tunisia (Mlaabi) and a 600MW, ~220km submarine cable. Trade & Logistics: Tunisia is bracing for higher import/export costs as global shipping costs and insurance premiums rise amid geopolitical disruptions, with over 90% of foreign trade moved by sea and the trade deficit widening in early 2026. Finance & Inclusion: Tunisia’s finance and budget committee is set to hear the ministry of finance on a bill to combat financial exclusion (23-2024), aiming to expand access to banking and financing for underserved groups and small businesses. Business & Investment Links: Tunisia and Italy’s economic ties were highlighted at a Tunisian-Italian forum, citing ~TND 20.5bn trade in 2025, rising investment and over 1,072 Italian-invested companies. World Cup & Local Economy: Kansas City expects a major travel surge tied to matches, while nearby residents around stadiums are monetising parking demand—an example of how sport can quickly reshape local business activity. Governance: UNSMIL says Libya’s 4+4 committee reached consensus on presidential election law after consultations in Tunis, with a fifth round planned. Sports (Tunisia angle): The Netherlands’ group-stage run ended with a win over Tunisia, setting up a Round of 32 clash with Morocco.

Energy Infrastructure: Terna and STEG awarded Hitachi Energy a ~€770m contract for converter stations on the Elmed HVDC interconnector, the first Europe–North Africa continent-to-continent link, with 600MW capacity and ~220km of mostly submarine cable between Italy (Partanna) and Tunisia (Mlaabi). Trade & Logistics: Tunisia warned that soaring global shipping costs and insurance premiums could hit imports and exports, noting over 90% of foreign trade moves by sea and that the trade deficit widened to TND 10.4bn in the first five months of 2026. Finance Policy: The finance and budget committee will hear the ministry of finance on a bill to combat financial exclusion (23-2024), aiming to expand access to banking and financing for underserved groups. EU-Tunisia Rights: A letter to EU leadership urges a reset of the EU approach after three years of the EU–Tunisia MoU, citing worsening human rights and press freedom and over-focus on migration control. Business & Investment: Tunisia’s PM said Tunisian-Italian economic ties are accelerating, with trade around TND 20.5bn in 2025, Italian investment in Tunisia exceeding 1,072 companies, and Italy ranking top in energy investment. Tech & Consumer Market: Africa’s smartphone market shrank 12% YoY in Q1 2026 as higher memory costs raised prices and reduced affordable supply.

World Cup & Tunisia: Tunisia’s Group F campaign ended with a 3-1 loss to the Netherlands in Kansas City, leaving the Eagles with zero points and a brutal -10 goal difference. The Dutch raced to a 2-0 lead early, with an Ellyes Skhiri own goal and a Brian Brobbey finish, before Tunisia pulled one back. Matchday Logistics: A tornado warning forced fans at Kansas City Stadium to evacuate briefly, but FIFA confirmed the Tunisia–Netherlands kickoff went ahead as planned. Tunisia Business & Investment: The 22nd Tunisia Investment Forum opened in Tunis with around 1,200 participants, highlighting 2025 growth of 2.6% and a rise in foreign direct investment, alongside efforts to improve the business climate. Sports Officiating Milestone: A Mexican referee, Katia Garcia, took charge of a men’s World Cup match in Kansas City, marking another step for women in top-level officiating.

World Cup Midpoint: The tournament has passed its halfway mark with 54 of 104 matches played and 13 teams already through to the Round of 32, as the U.S., Mexico and Canada keep rolling and stars like Messi and Mbappé lead the headlines. Tunisia’s Group F Exit & Final Tests: Tunisia’s campaign ends with the Netherlands visit in Kansas City, while Japan and Sweden fight for the best knockout path; the match also comes amid weather concerns that could disrupt play. Energy Deal for Tunisia-Italy Link: Tunisia’s STEG and Italy’s Terna awarded Hitachi Energy a contract worth about €770m (around $873m) for converter stations for the Elmed HVDC submarine interconnection, a 600MW link spanning about 220km. FDI Momentum: Tunisia’s Minister of Economy and Planning says foreign direct investment rose about 25% in the first four months of 2026, with a 4 billion dinars target by year-end. Development Plan Draft: The government published a draft 2026–2030 Development Plan focused on shifting toward a knowledge and innovation-based economy, pushing digital transformation and reducing regional gaps. Regional Cooperation: The League of Arab States and UNODC held a steering meeting in Cairo on tackling drugs and transnational organized crime, with Tunisia among participating countries.