Fitch affirms Tunisia's "B-" rating, flags growing risk in domestic financing

Credit rating agency Fitch affirmed Tunisia's long-term rating at "B-" with a stable outlook on 8 September, while warning of significant vulnerabilities in public finances: a budget deficit of 6.4% of GDP is expected in 2026 and public debt around 85% of GDP through 2028. Fitch flagged domestic financing as the next source of risk, since the central bank (BCT) plans to withdraw from directly financing the state from 2027, while Tunisian banks are already heavily exposed to state financing. On the positive side, Fitch noted Tunisia fully repaid its sole outstanding eurobond, worth 700 million euros, in July.

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