logo
Tunisia: President urges stepped up efforts in financial sector to cleanse corruption-hit companies

Tunisia: President urges stepped up efforts in financial sector to cleanse corruption-hit companies

Zawya08-04-2025
Tunis - President Kais Saied stressed the urgent need to step up efforts in the financial sector to cleanse companies corroded by corruption.
This came during a meeting with Finance Minister Michket Slama Khaldi at the Carthage Palace on Monday.
The Head of State was quoted in a Presidency statement as stressing that "self-reliance is not merely a slogan but must translate into concrete actions and implementation."
He highlighted that "fair and equitable taxation, coupled with curbing imports that benefit only a privileged few, are critical to achieving desired financial stability."
President Kais Saied underscored the necessity of "exploring new markets for Tunisian exports," calling it "essential, even vital."
However, he warned against "importing non-essential goods while imposing limited taxes on importers," stating this practice "fails to deliver the justice and fairness required."
The President of the Republic concluded by reaffirming Tunisia's openness to international cooperation, "provided it aligns with national priorities that serve our economy and respond to the legitimate demands of our people."
© Tap 2022 Provided by SyndiGate Media Inc. (Syndigate.info).
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Egypt Participates in Drafting and Launching the G20 Development Working Group Ministerial Declaration
Egypt Participates in Drafting and Launching the G20 Development Working Group Ministerial Declaration

Zawya

timea day ago

  • Zawya

Egypt Participates in Drafting and Launching the G20 Development Working Group Ministerial Declaration

H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, represented the Arab Republic of Egypt at the G20 Development Working Group Ministerial Meeting held in South Africa. She also participated in drafting and launching the Ministerial Declaration at the conclusion of the meetings. The Ministerial Declaration, issued at the meetings, affirmed that development financing is at the core of shared priorities. It also highlighted the urgent need to enhance domestic resource mobilization, address illicit financial flows, and strengthen the role of multilateral and innovative financing mechanisms. The G20 reaffirmed its commitment to the 2030 Agenda for Sustainable Development, its pledge to leave no one behind, and its enhanced shared responsibility in confronting global challenges and interconnected crises, from debt to global inequalities, climate change, and the SDG financing gap. During her participation, H.E. Dr. Rania Al-Mashat highlighted Egypt's experience in launching the "Country Approaches for Financing Sustainable Development and Climate Action" initiative within the Seville Platform for Action, with the aim of advancing integrated financing frameworks globally. Egypt co-leads this initiative (alongside South Africa, the United Nations Development Programme, the United Nations Department of Economic and Social Affairs, the Organisation for Economic Co-operation and Development, UNICEF, regional development banks, and others). Its objectives include 100 countries implementing integrated financing programs or country financing platforms funded by public, private, and philanthropic sources by 2030. Egypt has already begun joint work with Mexico to understand the mechanism for designing and implementing national platforms. Regarding stimulating large-scale investments, H.E. Dr. Al-Mashat emphasized the importance of allowing the private sector to play an effective role in development financing, improving governance in international financial institutions, and strengthening the United Nations' role in setting global economic rules. She also stressed the significance of debt sustainability and updating the basis for calculating Debt Sustainability Analysis (DSA) to ensure a fairer assessment for developing countries, particularly in Africa, and to support these countries with incentive tools and mechanisms to overcome ongoing debt challenges. In line with the G20 ministers' declaration, which highlights the urgent need to bridge the $4.5 trillion annual SDG financing gap, H.E. Dr. Al-Mashat affirmed the pressing need to expand blended finance and public-private partnerships, and to implement debt-for-development swap programs. She pointed to Egypt's experience, particularly with Italy, Germany, and China, in providing fiscal space for investment in high-impact projects in food security, women's empowerment, environmental protection, and climate change, making it a successful and replicable model. Furthermore, between 2020 and May 2025, Egypt successfully mobilized approximately $15.6 billion for private sector financing from international partners, with $4 billion allocated to the private sector within the Country Platform – the "NWFE" program. Despite the absence of an internationally agreed definition for Global Public Goods, the G20 Ministerial Declaration stressed the urgent need to enable the provision of these goods, along with the importance of taking action to support low-income and developing countries in implementing the 2030 Agenda in accordance with their national priorities and contributing to global well-being. This is what the Development Working Group calls for: enhancing global consensus, research, and cooperation on the protection and provision of Global Public Goods. The Minister of Planning, Economic Development and International Cooperation reiterated in her speech that development financing and investments in essential sectors represent the cornerstone of sustainable economic and social growth and have a direct impact on human well-being and long-term productivity. She confirmed the necessity of achieving a common vision in line with the G20 Ministerial Declaration, through mobilizing long-term and affordable financing and rethinking multilateral cooperation. With over $460 trillion in global assets, the potential to bridge SDG financing gaps is within reach – if countries redirect capital towards inclusive and sustainable priorities. H.E. Dr. Al-Mashat concluded her speech by stating that the outcomes of this Ministerial Meeting must represent the beginning of a practical phase – to translate commitments into tangible progress, moving from policies to practices with strong political will, while ensuring that no country is left behind in our pursuit of a more sustainable and equitable future for all. It is worth noting that the G20 is the premier forum for international economic cooperation and plays an important role in shaping and strengthening global architecture and governance on all major international economic issues. Its membership includes 19 countries plus the European Union and the African Union. South Africa assumed the G20 presidency from December 1, 2024, to November 2025, and is committed to leading the G20 by focusing on people, development, and solutions in a complex global geopolitical landscape. This comes against the backdrop of Egypt's pioneering experience – as a middle-income country – in balancing its national priorities. Distributed by APO Group on behalf of Ministry of Planning, Economic Development, and International Cooperation - Egypt.

Bank Aljazira achieves 20% net profit in H1-25; assets exceed $42bln
Bank Aljazira achieves 20% net profit in H1-25; assets exceed $42bln

Zawya

time3 days ago

  • Zawya

Bank Aljazira achieves 20% net profit in H1-25; assets exceed $42bln

Riyadh – Bank Aljazira recorded SAR 743.10 million net profits in the first half (H1) of 2025, signaling a 20.24% growth from SAR 618 million in H1-24. The earnings per share (EPS) inched up to SAR 0.50 at the end of June 2025 compared to SAR 0.41 in the same period a year earlier, according to the income statements. The Saudi lender registered client's deposits totaling SAR 114.15 billion as of 30 June 2025, which increased by 15.83% year-on-year (YoY) from SAR 98.55 billion. Bank Aljazira's total assets also soared by 14.18% YoY to SAR 157.57 billion in H1-25 from SAR 138 billion. In addition, the investments rose by 7.97% YoY to SAR 37.38 billion in January-June 2025 from SAR 34.61 billion in the same six months (6M) a year earlier. Quarterly Results In the second quarter (Q2) of 2025, the net profits of Bank Aljazira also surged by 20.30% to SAR 382.10 million from SAR 317.60 million in Q2-24. Meanwhile, on a quarterly basis, the Q2-25 net profits were 5.84% higher than SAR 361 million in Q1-25. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (

Tunisia: Key pillars of 2026 Finance Bill at heart of Cabinet Meeting
Tunisia: Key pillars of 2026 Finance Bill at heart of Cabinet Meeting

Zawya

time3 days ago

  • Zawya

Tunisia: Key pillars of 2026 Finance Bill at heart of Cabinet Meeting

Tunis – Prime Minister Sarra Zaafrani Zenzri on Tuesday chaired a Cabinet Meeting, dedicated to monitoring the preparation of the 2026 finance bill. The PM pointed out that the 2026 finance bill shows the State's policy and strategic direction, which revolves around a balance between social justice and economic growth. She further stated that the bill must serve as a lever for addressing structural challenges and achieving the objectives of the 2026–2030 development plan, which is based on a bottom-up approach, starting at the local level, then moving through the regional level, and finally to the national level, in line with the vision of President Kais Saied. Zenzri underlined that the finance bill should not be reduced to mere figures and percentages but must reflect the will of the people, marking a break with past approaches that failed to guarantee fairness and justice. She also underscored the need to align the bill with the state's strategic orientations, by promoting autonomy and adopting innovative financing mechanisms, relying on new approaches that break away from traditional methods, in order to respond to global economic shifts and geopolitical pressures. She called creating a new economic and social model, through a comprehensive review of legislation, to establish a genuine balance between growth and social justice. The Cabinet reviewed the main components of the 2026 finance bill, notably strengthening the foundations of the social state by improving support for vulnerable and low-income groups and supporting their economic inclusion, while also addressing unemployment through the opening of public sector recruitment in 2026 and the regularisation of several employment situations. It also focuses on investing in regional development, relying on the outcomes of work by local, regional, and district councils in drafting the 2026–2030 development plan. Additional priorities include boosting public investment as a catalyst for private investment, supporting communitarian companies and small and medium-sized businesses, launching reforms in the health, transport, and education sectors, accelerating investment in renewable energy, integrating the informal economy, and ensuring fiscal justice. © Tap 2022 Provided by SyndiGate Media Inc. (

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store