Cash Circulation in Tunisia Continues to Accelerate
Cash in Circulation Reaches 29.1 Billion Dinars in May 2026
According to the latest data published by the Central Bank of Tunisia (BCT), the volume of cash in circulation reached approximately 29.1 billion dinars as of May 22, 2026, a significant increase of over 22% compared to the same period last year, which stood at 23.8 billion dinars.
Factors Contributing to the Increase in Cash Circulation
This substantial rise in cash circulation occurs in a context marked by the implementation of salary increases as per the finance law, the approach of Eid al-Adha, and a notable increase in consumption ahead of the summer season. The growing needs of households, combined with rising prices and the continued use of cash payments, explain a significant portion of this increase in cash circulation.
Experts also point out that the expansion of the parallel market and the importance of informal transactions continue to fuel the demand for liquidity. The payment of salary increases decided by the authorities has also contributed to strengthening the market's demand for fiduciary currency.
Salary Increases and Minimum Wage
In this context, the government has set new levels for the guaranteed minimum wage. As of 2026, the SMIG (minimum wage) reaches 554,736 dinars per month for the 48-hour weekly regime and 470,251 dinars for the 40-hour regime, with progressive increases planned until 2028.
The authorities have also introduced annual increases of 5% in basic salaries and certain bonuses in non-agricultural sectors governed by collective sectoral conventions. These increases will be applied cumulatively over three consecutive years.
Potential for Further Increase in Cash Circulation
The current increase in liquidity may still intensify in the coming months. Traditionally, the summer period, weddings, vacations, and religious holidays lead to an increase in household expenses and bank withdrawals.
For economic observers, this rapid increase in cash circulation also serves as an indicator of the strong dependence of the Tunisian economy on cash payments. Despite efforts to digitalize financial transactions, the use of cash remains dominant in several sectors of the national economy.
