Abstract
The Tunisian economy grew rapidly during 1970–80, averaging an annual growth rate of 7.4 percent, while domestic financial stability and a strong balance of payments position were maintained. Economic growth was broadly based, with a particularly strong performance in the manufacturing sector, which achieved an average annual increase in real value added of 11.0 percent, thereby increasing its share in GDP from 8.4 percent in 1970 to 11.9 percent in 1980. The growth of the economy reflected the high and rising levels of investment, which increased from 20 percent of GDP in 1970 to 29 percent in 1980. A large share of public investment was directed toward the development of human resources and infrastructure. While consumption in real terms grew at an average annual rate of 9 percent, national savings rose in line with investment, as petroleum revenues increased rapidly because of favorable world prices and generally restrained financial policies.
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