Tunisian central bank forces state to cut spending plans

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The Central Bank of Tunisia, Tunis

The Central Bank of Tunisia

The Tunisian government withdrew plans for a major spending increase on November 2, days after the central bank governor publicly refused to support it.

Tunisian prime minister Hichem Mechichi put forward a draft budget in mid-October that would have seen the fiscal deficit reach a record 14% of GDP. Mechichi and other senior officials, including finance minister Ali Kooli, said they expected the central bank to finance the deficit by buying government bonds.

But on October 28, governor

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