Tunisia: Oil Production Slump Exacerbates Budget Shortfall
Tunisia, the country that started 2011’s Arab Spring, was much less rocked by violence than neighboring Libya and nearby Egypt. But economic and political turbulence combined with a (largely unrelated) slide in crude output below 70,000 b/d have left the country facing a serious payments crunch. New oil fields are unlikely to make up for lost output, James Cockayne reports.
Tunisia’s 2012 budget...