Tunisia: Parallel economy employs country’s 41.5 pct workforce, claims World Bank

A recent study conducted by the World Bank claims that about 41.5 percent of the workforce in Tunisia is employed in the parallel economy.

While revealing the study, Tunisian Institute for Strategic Studies disclosed that 55 percent of the workers in the parallel sector only have a primary school education in comparison to 25 percent in the organized sector.

According to Middle East Monitor, the construction and public works sector has the largest share (36 percent) of workers in the parallel economy, followed by the trade sector (24 percent) and transport and communication (10 percent). It also stated that the economy of Tunisia inflated by 2.5 percent in the last year compared to 1.9 percent in 2017, in line with earlier expectations released last month by the International Monetary Fund.

It is also being revealed that the growth rates didn’t success in the last year in reducing Tunisia’s unemployment rate of 15.5 percent. The World Bank has an opinion that the parallel economy is one of the most important obstacles to development in the country.

Also Read: Tunisia, Egypt’s Presidents agree to boost counterterrorism cooperation at Arab League-EU summit