Fitch keeps Tunisia's credit rating at 'BB-' while warning of worsening fiscal deficits
Financial services agency Fitch maintained its sovereign long-term rating for Tunisia at 'BB-' with a stable outlook but projected current account deficits to expand to 3.9% of GDP by 2026.
Rating agency Fitch affirmed the country's long-term sovereign credit classification at 'BB-' with a stable outlook, citing economic resilience in per capita income, human development, and external balance despite recent shocks. However, the agency highlighted fragility in public finances driven by rising government debt and significant financing needs. External factors remain a critical concern, specifically volatility in commodity prices which increased subsidy costs while limiting government borrowing options. Fitch specifically forecasted that Tunisia's current account deficit would widen to 3.9% of GDP in 2026 due to higher energy costs and a broader trade balance shortfall. This projection stands in contrast to previous periods where deficits remained lower, even as exports of olive oil revenue grew by 44%.
