Tunisia – Tunisian President Kais Saied called on businessmen in his country to reduce the prices of goods in the local market, at a time when inflation continues to record levels exceeding 6 percent this year.
This came during Saeed’s meeting yesterday, Tuesday, with the head of the Tunisian Union of Industry, Trade and Handicrafts, Samir Majoul (the employers’ union), according to a statement by the Tunisian presidency.
Saied called on Tunisian businessmen and merchants to “fully engage in the national liberation battle by reducing the prices of goods” in local markets.
He recalled what was stated in the text of the constitution that the Tunisian state guarantees coexistence between the public and private sectors. “Just as it seeks to secure public facilities, it also seeks to secure the necessary conditions that guarantee the private sector to work in a safe climate.”
Saeed considered that “coexistence between the public and private sectors can only be achieved on the basis of justice and equity.”
In July 2021, Saied called on the Tunisian Employers Union to reduce prices, noting that any “attempt to speculate or monopolize will be met with strict enforcement of the law.”
Tunisians complain of an exaggerated rise in food prices, in addition to the fluctuation in the availability of other items such as rice and sugar.
The annual consumer price inflation rate in Tunisia reached 6.7 percent on an annual basis last September, according to the National Institute of Statistics (governmental).
The country suffered a severe economic crisis, exacerbated by the repercussions of the outbreak of the Corona pandemic, and then the high cost of importing energy and basic materials, following the outbreak of the Russian-Ukrainian war on February 24, 2022.
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**Interview with Dr. Leila Ben Ali, Economist and Market Analyst**
**Editor:** Thank you for joining us today, Dr. Ben Ali. Recently, Tunisian President Kais Saied urged local businessmen to reduce the prices of goods as inflation continues to rise, exceeding 6 percent. What are your thoughts on his call to action?
**Dr. Ben Ali:** Thank you for having me. President Saied’s appeal comes at a critical time for Tunisia. With inflation affecting many households, it’s important for businesses to consider the burden that rising prices place on consumers. However, the challenge lies in balancing costs for businesses and affordability for consumers.
**Editor:** What do you think are the main drivers behind the current inflation in Tunisia?
**Dr. Ben Ali:** Several factors contribute to the rising inflation in Tunisia. These include global supply chain disruptions, increased costs of imported goods, and local economic policies. Additionally, the devaluation of the Tunisian dinar has added pressure on pricing. Local businesses often struggle with these external pressures while trying to maintain a viable profit margin.
**Editor:** How feasible is it for businesses to lower prices without compromising their operations?
**Dr. Ben Ali:** Businesses are operating under tight margins, so price reductions may not be easy. Some may respond to the president’s call by offering limited discounts or promotions, but widespread price reductions will require a collaborative effort among stakeholders, including the government, to ensure that businesses receive the necessary support and incentives.
**Editor:** What role can the government play to help stabilize prices in the market?
**Dr. Ben Ali:** The government can implement several measures. For starters, enhancing support for local production can help reduce dependency on imports. Additionally, fiscal policies, such as subsidies for essential goods or tax incentives for businesses that lower prices, could provide much-needed relief. Open dialogue between the government and the business community will be essential in achieving this.
**Editor:** In your opinion, what impact could President Saied’s request have on consumer sentiment and the overall economy?
**Dr. Ben Ali:** If businesses respond positively to the president’s request, it could enhance consumer confidence and purchasing power, leading to increased demand, which is vital for economic recovery. On the other hand, if prices continue to rise unchecked, it could lead to discontent and undermine trust in both the government and the businesses involved.
**Editor:** Thank you, Dr. Ben Ali, for your insights. It will be interesting to see how the business community responds to the president’s call.
**Dr. Ben Ali:** Thank you for having me. I hope for a collaborative approach that benefits both consumers and businesses alike.
