The European Union is moving to scale up the bloc’s financial assistance to Tunisia, as proposed by its foreign policy chief Federica Mogherini. Mogherini proposed in Brussels on Thursday to double the assistance, currently estimated at €170 million per annum, to enable the North African country to focus on youth employment, social development and assistance to companies. State public spending has soared against significant collapse of companies’ returns. To save the country authorities have subscribed to loans from international financial institutions. Minister of investment, Fadhel Abdelkéfi, Wednesday sounded the alarm noting that the country is in economic state of emergency.

Source: The North Africa Journal September 30, 2016 16:18 UTC