finance & economy

80% of Tunisian-French business leaders are optimistic for 2022 (CTFCI survey)

October 13, 2021

TAP) - About 80% of Tunisian-French business leaders show measured optimism about the prospects for their activities in 2022. Two-thirds of them claim that improving the political situation is a key factor to restore confidence and boost investment, reveal the outcomes of the poll carried out by the Tunisian-French Chamber of Commerce and Industry (CTFCI), during the first half of September 2021, with a sample of 134 member companies. 70 of them are exporters with French participation, operating mainly in the industrial and service sectors.

The goal of the poll is to shed light on how business leaders managed the health crisis, its induced effects on their activities, as well as their projections for 2022, the CTFCI said in a press release on Tuesday.

Business leaders feel optimistic about the 2021 financial year. 78.4% of participants included in the poll expect their situation to improve or stabilize in 2022, while 12.7% feel pessimistic, thinking that their situation will deteriorate.

For two-thirds of business leaders, the improvement of the political situation in the country is a key factor to boost investment. Yet, the other third believes that improving the political situation is not enough to promote investment and restore investors' confidence.

// Negative impacts of the third wave of the Covid-19 pandemic and insufficient government measures
For most CTFCI companies, Tunisia was seriously affected by the pandemic in June and July 2021, which had an impact, during the first eight months of 2021 on both their activities (turnover) and their human resources.

Even if the coronavirus pandemic impacted companies and sectors differently, its virulence could not be dampened by government measures seen as insufficient and inappropriate, according to business leaders.

The same polls show that for 66.9% of companies, the impact of the third wave of COVID-19 was negative, while 27% recorded no impact and only 6% managed to make some gains, the same source said.

Regarding the support measures decided by the government for companies impacted by the COVID-19, the vast majority of business leaders said that they are dissatisfied. 80% describe the support measures as insufficient and inappropriate, against only 5% who consider that they are sufficient.

Regarding the COVID-19 impacts on the rate of decline in business activity (turnover), the outcomes obtained reveal big disparities which are inherent in the sectors.

56.9% of companies (74) declare a decline in activity ranging between 0 and 30%, 15.4% show a sharp decrease ranging from 40 to + 60% and almost a third (27.7%) believe that they did not record a drop in their activity.

Regarding the impact of the pandemic on employment, business leaders reported two main trends. The first trend shows that 51.1% of companies (68) do not declare any reduction in their workforce while the second trend shows over one-third of companies, or 36.1%, have been forced to reduce their workforce by 10 to 20% and only 12.8% have made cuts ranging from 30 to + 60% of their staff.

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