Record-Breaking Cash Circulation in Tunisia
The volume of banknotes and coins in circulation in Tunisia reached a historic high of 26,145 billion dinars by the end of 2024, compared to 22,104 billion the previous year, representing an increase of 18.28%, according to data published by the Central Bank of Tunisia (BCT) on Monday. This surge of 4,041 billion dinars is a record for the country and raises concerns about the prevalence of cash transactions.
In a statement to Express FM on Tuesday, December 9, 2025, financial expert Moez Hadidane explained that this growth is the result of several factors. The decline in the use of checks, now replaced by cash payments, is one of the main causes. Recent legal reforms, including the removal of penalties for holding amounts over 5,000 dinars without justification and the cancellation of Article 45 of the 2019 Finance Act, replaced by Article 57 of the 2026 Finance Act, have also allowed for cash settlements of transactions exceeding this amount. According to Hadidane, the expansion of the parallel market, exacerbated by tax pressure and evasion, has contributed to this phenomenon, as have seasonal factors such as year-end expenses, back-to-school, and religious holidays like Eid al-Adha and Eid al-Fitr.
Hadidane also emphasized that this situation highlights the need for a revision of the legal framework for bills of exchange, considered inadequate for modern commercial transactions. He stressed the importance of gradually promoting electronic payment methods and simplifying tax procedures to reduce the prevalence of cash transactions. In his view, these measures would also improve Tunisia's rating in international financial indices, such as those of the Financial Action Task Force (FATF), while limiting the impact of the parallel economy on the national financial system.
For Hadidane, changing the currency could be an interesting option, provided it is accompanied by a clear legal framework and effective measures to control the informal economy. He added that adopting modern financial instruments and transitioning to electronic payments are essential steps to reduce the dominance of cash in commercial transactions and strengthen financial transparency.
