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They have also deprived the government of crucial export revenues needed to turn the economy around and create real jobs to end the daily protests and unrest, which largely target CPG. “I get 850 dinars ($279.62) a month without doing any work,” said former protestor and CPG employee Abdul-Basset. The company spends about $70 million a year of its $180 million annual budget on salaries, Industry and Energy Minister Slim Feriani told Reuters classy cufflinks. His ministry oversees CPG. “The hirings that took place after the revolution years were aimed at buying social peace but increased the suffering of the company,” he said..
“We are aware that they are not doing anything.” classy cufflinks. He said the company has lost almost $1 billion a year since 2011 because of disruption caused by the protests. It has only had 4,500 production days out of a possible 14,000 at its five mines since 2011, according to company documents seen by Reuters. “This..could have prevented us from borrowing from the IMF,” said Feriani. Phospates accounted for about 10 percent of Tunisia’s exports before 2011, when olive oil replaced it as the top export. In 2018 phosphate had shrunk to about 4 percent..
Tunisia agreed a $2.6 billion loan with the IMF in 2016. So far four installments worth $1.4 billion have been paid but each one was delayed because reforms fell behind the agreed program. Public sector salaries and reform of public companies were among the sticking points with the IMF classy cufflinks. Analysts expect a new confrontation with the lender after the government raised salaries at public companies, including CPG, state airline Tunisair, and state energy firm STEG in November. An IMF spokeswoman said it was “in a continuous dialogue with the authorities on the policies” in the next loan review but declined to say when it would take place..
“The IMF supports the Tunisian authorities’ economic program to reduce macroeconomic imbalances, including by strengthening external competitiveness, reducing inflation, and lowering debt, and to improve job-creating growth prospects through structural reforms,” she said. CPG’s phosphate production fell from a record 8.2 million tons in 2010 to about 3 million tons in 2018, official data showed. In contrast, nearby Morocco raised output to 30 million tons last year from 13 million in 2010. A stable social climate allowed it to develop the industry including the use of a phosphate pipeline classy cufflinks.
“Tunisia is no longer on the global phosphate production radar,” Feriani said. Until 2011, Tunisia was one of the world’s top 5 producers but now stands in 11th place, far behind the leaders China, the United States, Morocco, Russia and Jordan classy cufflinks. CPG said it could raise production by between 5 and 6 million tons this year but only if the protests stop. In 2017, President Beji Caid Essebsi ordered the army to guard phosphate sites but has not dispersed the protests fearing a backlash..