Morning Brief october 13th, 2023

ECONOMIC HEADLINES
| MOROCCO | AGRICULTURE | Olive production stable during the 2022-2023 crop
Olive production during the 2022-2023 crop is estimated at 1.07 million tons, stable compared to last year. However, it is down 44% compared to that of 2021 which posted a record production of 1.9 million tons.

| TUNISIA | FOREIGN TRADE | Reduction of the trade deficit at the end of September 2023
At the end of September 2023, Tunisia's exports jumped by 7.5% to stand at TND 45,459.4 Mn. Meanwhile, imports fell by 3.7% to TND 59,438.8 Mn. In this context, the trade deficit declined by 28.0% to TND -13,979.3 Mn, i.e. a coverage rate of 76.5%. The latter shows an increase of 8.0 pts compared to the same period of 2022.

| TOGO | INFLATION | An inflation rate of 3.6% in September 2023
According to the National Institute of Statistics and Economic and Demographic Studies (INSEED) of Togo, the National Harmo-nized Consumer Prices Index declined by 0.5% in September 2023, compared to the month previous. Year-on-year, the inflation rate settles at 3.6%.

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