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تونزي تيليغراف
Moody's awards Tunisia a stable outlook
Moody's credit rating agency maintained Tunisia's sovereign rating unchanged with a stable outlook, despite the deterioration of public finances, rising public debt, ongoing challenges in economic growth, and limited margin of maneuver in fiscal policy. The agency indicated that the external situation remains stable, with foreign exchange reserves equivalent to 3.3 months of imports, a 14% increase in foreign direct investment, and an improvement in debt service capacity after the repayment of the last Eurobond issuance in July 2026. However, public finances still represent a key vulnerability due to high wages and increased support expenses, particularly for energy, along with political risks and weak sustainability of economic reforms. There are also structural risks related to the labor market and migration. The assessment confirms that environmental, social, and governance factors negatively impact the rating, despite continued support from remittances of Tunisians abroad and the relative stability of the external economy.
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