The Tunisian government has narrowed its budget spending for 2002 by $253 million. Total expenditures for the year are forecasted to reach $8.1 billion compared to the previously predicted $8.359 billion, reported government officials.
The budget’s revision was attributed to this year’s $252 million decrease government tax receipts and other anticipated revenues. Spending was cut so as to maintain the 2002 deficit at 2.6 percent of the gross domestic product (GDP).
A drop in exports caused by a severe drought in the North African state is significantly affecting government revenues. Agricultural production was forecasted to plummet this year due to continuing below-normal rainfall levels. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
