[News] Tunisia raises cooking gas and fuel prices as it seeks to reach an agreement with the IMF

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Tunisia said on Saturday it had raised the prices of cooking gas cylinders by 14 percent and fuel by 3 percent as part of a plan to cut energy subsidies,

 

a major policy change sought by the country's international lenders.

The energy ministry said cooking gas prices, which were raised for the first time in 12 years, would rise from 7,750 dinars to 8,800 dinars.

 

The ministry said in a statement that the price of petrol will rise on Tuesday by 3 percent from 2,330 dinars per liter to 2,400 dinars.

Tunisia hopes to reach an agreement with the International Monetary Fund before the end of next month

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This is the fourth hike in fuel prices this year, with Tunisia expecting the budget deficit to widen to 9.7 percent of GDP in 2022, compared to 6.7 percent previously expected,

 

due to a stronger dollar and a sharp increase in grain and energy prices.

Tunisia, which is facing its worst financial crisis, is trying to agree a new financing program with the International Monetary Fund.

 

The energy balance deficit doubled to six billion dinars in the first eight months of 2022 this year, compared to 2.9 billion dinars last year, driven by the impact of the war in Ukraine.