Who Runs Tunisia’s Economy, the Key Players in 2026

TUNISIA · ECONOMY

The Tunisia economy is run by a small group: a president who decides, ministers who carry out his line, and state companies with monopolies. For US readers, that matters because American trade, olive oil and investors deal with the same few names.

This guide names the people, state companies, banks and family groups that matter in October 2026, and says how much each is worth.

The Tunisia Economy in One Page

The Tunisia economy is a state-led system for about 12 million people. The president sets the direction, while a few banks and family groups hold most private capital.

President Kais Saied chaired a Council of Ministers at Carthage Palace on 13 October 2026, according to the prime minister’s website. Head of Government Sara Zaafrani Zenzri, who appears there in an item dated 23 October 2026, runs the government day to day.

Finance Minister Michket Slama Khaldi was due before parliament’s finance committee on the 2027 budget, La Presse reported on 21 October 2026. Salah Zouari, the equipment and housing minister, is also in charge of the industry, mines and energy ministry, in items dated 9 October 2026.

The numbers behind the names are modest by US standards. The World Bank says growth was 2.5% in 2025 and forecasts 2.3% in 2026, and Tunisia’s statistics office put second-quarter 2026 growth at 2.3%.

• Population: about 12 million (World Bank, 2024).
• Inflation: 5.6% in the year to September 2026 (national statistics office).
• Unemployment: 14.9% in the second quarter of 2026 (national statistics office).
• Public debt: 82.2% of GDP in 2025, down from 84.9% in 2024 (World Bank).

The Ministers and the Budget

The government’s economic line is set in short ministerial councils at the Kasbah, the prime minister’s seat. On 4 August 2026 Zenzri chaired one on the 2027 budget, where Khaldi presented the 2026 budget outcome and the 2027 outlook.

The priorities listed were protecting low-income households, reforming health and social protection, restructuring public companies and boosting investment. The 2027 plan sits inside the 2026 to 2030 development plan, which follows Saied’s guidelines.

By 21 October 2026, La Presse said the draft bill rests on three aims: food security, water security and energy security. A 23 October 2026 market digest reported that the draft sets aside 11.846 billion dinars (about US$3.9 billion) for subsidies and plans 32,557 public-sector hires.

Energy and the Private Companies Plan

On 9 October 2026 Zenzri chaired a council on energy. It set a target of 35% of electricity from renewables by 2030, the prime minister’s website says.

The next day another council backed a new model of locally run “private companies”. It said they should be steered towards strategic sectors.

The Central Bank, Debt and Reserves

In the Tunisia economy, the Central Bank of Tunisia, known as the BCT, sets the key rate and manages the dinar. Its board kept the rate at 7% on 7 October 2026 and said risks to inflation lean upward, La Presse reported on 8 October.

Energy is the pressure point. By the end of August 2026 the energy import bill reached 11.3 billion dinars (about US$3.8 billion), up from 8.8 billion dinars (about US$2.9 billion).

The current-account deficit was 4.694 billion dinars (about US$1.6 billion), or 2.5% of GDP, in the first eight months of 2026. Net foreign assets stood at 23.7 billion dinars (about US$7.9 billion) on 6 October, enough for 92 days of imports.

Tunisia repaid a 700 million euro bond (about US$784 million) in July 2026, according to the BCT’s 29 July statement. All dinar conversions here use about 3.0 dinars to the US dollar, the October 2026 rate.

State-Owned Companies and Who Controls Them

The State Department counts 111 state-owned enterprises and public bodies, citing a December 2023 finance ministry report. They compete with private firms in telecoms, banking and insurance, and hold monopolies in rail, water, electricity distribution and port logistics.

They also control imports of staples such as grain, rice, sugar, edible oil and gas. The electricity and gas utility STEG and the flag carrier Tunisair are the two best-known names.

Who Decides on Sales

Privatisation needs a government decision, and the State Department says Tunisia allows foreign bidders. Past sales covered telecoms, banking, insurance, manufacturing and fuel distribution, and sales of confiscated assets need a court order.

• Budget transfers to state companies reached 9.1% of GDP in 2023, or about US$4.6 billion in total.
• The State Department calls these companies heavily indebted, and lenders price them like the government.
• The 2027 budget plan lists the restructuring of public companies as a priority.

Banks, the Real Gatekeepers of Credit

The central bank counted 29 banks in November 2024: 22 onshore and 7 offshore. Banks provide about 95% of private-sector financing, while the stock exchange supplied about 5% of corporate financing in 2024.

Onshore bank assets were about 160.7 billion dinars (about US$52 billion) in 2023, and non-performing loans were 13.6% of loans. Tourism (33.3%), farming (24.3%) and construction (24.2%) had the worst ratios, the State Department reports.

BIAT, the Biggest Listed Bank

BIAT ended 2025 with net banking income of 1.595 billion dinars (about US$531 million). Its own website shows net loans of 13.045 billion dinars (about US$4.3 billion) and deposits of 22.291 billion dinars (about US$7.4 billion).

Of the twelve listed banks, five earn 64% of the sector’s net banking income, Managers.tn reported. The first-half 2026 total was 3.786 billion dinars (about US$1.3 billion), and Amen Bank grew fastest, at 17.7%.

Attijari Bank, Amen Bank and the Rest

Attijari Bank and Amen Bank rank third and fifth by market value in August 2026. Through September 2026, BH Bank’s net banking income rose 4% and Banque de Tunisie’s rose 10.5%, a 23 October digest reported.

Listed Companies and the Stock Exchange

The stock market is the most visible part of the Tunisia economy, and Tunis has 71 listed securities, according to Managers.tn in August 2026. The main index, the Tunindex, was up 46.41% since the start of 2026 at the close on 14 August.

Total market value was 48.272 billion dinars (about US$16.1 billion) that day, Tunisie Numerique reported. The top five companies together held 23.036 billion dinars (about US$7.7 billion), or 47.72%.

Poulina, the Industrial Giant

Poulina Group Holding began as a poultry business in 1967. It now has about 9,500 employees and 11 sectors, from poultry and appliances to steel processing and packaging.

Its revenue was about 2.118 billion dinars (about US$706 million) in the first half of 2026, nearly three times BIAT’s, Managers.tn said.

On 2 March 2026 it announced a partial sale of its agri-food division on the stock exchange.

• BIAT: 6.548 billion dinars (about US$2.2 billion), 13.56% of the market.
• Poulina Group Holding: 4.887 billion dinars (about US$1.6 billion), 10.12%.
• Attijari Bank: 4.465 billion dinars (about US$1.5 billion), 9.25%.
• SFBT: 3.995 billion dinars (about US$1.3 billion), 8.28%.
• Amen Bank: 3.142 billion dinars (about US$1.0 billion), 6.51%.

Family Groups and Private Owners

Private power sits in a short list of family-led groups. Managers.tn ranked them by 2021 revenue in January 2023.

Poulina came first at 4.4 billion dinars (about US$1.5 billion). The Mabrouk group followed at 3.6 billion dinars (about US$1.2 billion), then the Elloumi group at 3.2 billion dinars (about US$1.1 billion).

Tunisie Telecom, UTIC, the Ben Ayed group, the Bayahi group, Leoni, Delice Holding and SFBT completed the top ten.

One Tech plans to list its cable business on the Tunis exchange in the first half of 2027. Tustex reported this on 23 October 2026.

Exports, Sectors and Foreign Money

About 70% of Tunisian exports go to the European Union, according to the US Commerce Department. The World Bank lists farming (olives, dates, cereals, citrus), component manufacturing, retail and tourism as the main sectors.

In 2025, tourism revenues rose 5.3% and remittances rose 14.9%, while the goods trade deficit widened 13.4%. Offshore firms must generally export at least 70% of output, the State Department says.

Who Invests

Foreign investment totalled US$231.1 million in the first half of 2025, up 26.1%, the investment promotion agency told the US Commerce Department. In 2024 the leading sources were France (US$207 million), Germany (US$109 million), Italy (US$98 million), Qatar (US$41 million) and the United States (US$38 million).

The IMF Gap

The International Monetary Fund projects Tunisian growth of 2.1% in 2026. Its latest full Article IV review on file dates from 2021.

What It Means for US Readers

US goods trade with Tunisia is small but visible. In 2025 the United States bought about US$1.014 billion and sold about US$589.6 million, and the deficit reached US$440.7 million in January to July 2026.

Apparel, olive oil, dates, fertilizers and electronics lead US imports from Tunisia, and about 70 US firms operate in the country. The American Chamber of Commerce in Tunis has about 500 members.

Investors in Tunisian stocks or bonds face a thin reserve cushion and an energy bill that is rising. Read this alongside Tunisia’s debt and IMF position, the central bank’s October rate decision and our guide to Tunisia’s geopolitics.

For the wider picture, start at the Tunisia country page, then see Tunisia explained and the story of Tunisair’s restructuring.

What Is Not Known

No public ranking of the wealth of Tunisian families after 2021 revenues has been published, so the order of the private groups may have changed. The ownership split of the five biggest listed firms is not set out in the sources used here.

The 2027 budget figures for the deficit and growth have not been released in the sources reviewed.

Whether the president will allow any sale of a state company remains open.

Frequently Asked Questions

Who runs the Tunisia economy in 2026?

President Kais Saied sets the direction, and Prime Minister Sara Zaafrani Zenzri leads the government. Finance Minister Michket Slama Khaldi handles the budget.

What are the biggest companies in Tunisia?

By stock-market value in August 2026, they are BIAT, Poulina Group Holding, Attijari Bank, SFBT and Amen Bank. Together they hold 47.72% of the market.

How many state-owned companies does Tunisia have?

The State Department counts 111 state-owned enterprises and public bodies, citing a December 2023 finance ministry report. They dominate water, electricity, rail and port logistics.

What is the Tunisian central bank’s interest rate?

The Central Bank of Tunisia held its key rate at 7% on 7 October 2026. Inflation was 5.6% in September.

What does the Tunisia economy export?

About 70% of exports go to the European Union. To the United States, Tunisia sells mainly apparel, olive oil, dates, fertilizers and electronics.

How big is Tunisia’s public debt?

The World Bank puts public debt at 82.2% of GDP in 2025, down from 84.9% in 2024. The fiscal deficit narrowed to 5.2% of GDP in 2025.

Sources: Prime Minister of Tunisia, official website (ministerial councils, September and October 2026), 23 October 2026; La Presse, projet de loi de finances 2027, audition de la ministre des Finances, 21 October 2026; La Presse, Banque centrale de Tunisie board decision, 8 October 2026; Kapitalis, taux directeur de la BCT maintenu à 7%, 29 July 2026; National Institute of Statistics of Tunisia, October 2026; World Bank, Tunisia overview, 2026; IMF, Tunisia country page, October 2026; US State Department, 2025 Investment Climate Statement: Tunisia, 2025; US Commerce Department, Tunisia Country Commercial Guide, 26 February 2026; US Census Bureau, trade in goods with Tunisia, July 2026 data; Tunisie Numerique, Bourse de Tunis, cinq groupes concentrent 48% du marché, 17 August 2026; Managers.tn, Bourse de Tunis, les dominants dominent le marché, 17 August 2026; Managers.tn, ranking of Tunisian groups by 2021 revenue, 28 January 2023; BIAT, official website, October 2026; Poulina Group Holding, official website, 2 March 2026; Tustex, Tunisian financial news digest, 23 October 2026.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief