Tunis, Tunisia – (African Boulevard News) – Tunisian President Kais Saied has unveiled plans to introduce new taxes specifically targeting the country’s wealthiest citizens. The move is aimed at stabilizing the country’s finances and avoiding a loan from the International Monetary Fund (IMF).
Saied announced the plans in a televised address on Thursday, stating that the new measures would be necessary to avoid reliance on the IMF, which has historically placed stringent economic conditions and limitations on countries that receive its loans.
Saied’s proposal involves imposing higher taxes on wealthy individuals and businesses, which would generate additional funds for the government. The proposed taxes would target individuals with an income of over TND 500,000 ($186,000) per year and companies with profits over TND 1m ($372,000) per year.
The Tunisian President stated that the proposed tax increases would be fair and proportional, with higher earners being required to contribute a greater proportion of their earnings than those on lower incomes. Saied emphasized that these measures were necessary to ensure that the country’s wealthiest citizens contribute their fair share towards the national economy.
Saied’s announcement was not entirely unexpected, with the Tunisian government having previously stated that it was looking to reduce reliance on IMF loans. The country has been struggling with a weak economy and high levels of debt, with the COVID-19 pandemic exacerbating the situation.
Economic experts have praised the proposed measures, stating that they could help stabilize the country’s finances and reduce the need for IMF assistance. However, some have expressed concern that the new taxes may discourage investment and entrepreneurship in the country.
Speaking to African Boulevard News, economic analyst Ahmed Moualek stated, “The proposed measures could be a good step in the right direction for Tunisia’s economy. However, it’s important that these taxes are imposed fairly and don’t disproportionately impact the middle class. Additionally, the government must ensure that the additional funds generated are used effectively and efficiently.”
Overall, Saied’s proposal to tax the rich has generated a mixed response, with some praising the move as a progressive step towards economic stability, while others are concerned about the potential impact on the country’s business environment. Regardless, this move demonstrates the government’s commitment to address the country’s economic challenges and should be seen as a positive step towards fiscal sustainability.
