Economic growth will come in below the levels expected just six months earlier, according to the latest forecasts by the International Monetary Fund. Its October 2017 world economic outlook cut the forecast for growth in each of the four years from 2017. The economy is now expected to post 2.3% growth in 2017 rather than 2.5% as forecast six months earlier. Growth for the following three years is 3.0% (3.1%), 3.5% (3.7%) and 4.1%, (4.2%) (chart 1). Official data had already showed that the economy slowed in the second quarter of the year, indicating that the road to recovery remained bumpy. The economy grew by 1.0% in 2016 and 1.1% in 2015. The fund is monitoring Tunisia over the $2.9bn Extended Fund Facility (EFF) that was signed in May 2016. At the first review in June 2017, it approved the authorities’ request for waivers for non-observance of performance criteria on net international reserves, net domestic assets, and the primary fiscal deficit. An earlier expected payment under the EFF had been delayed because lack of progress in containing wage growth. The Executive Board also approved the authorities’ request for rephasing of remaining access into six semi-annual installments. This enabled the payment of a further $314m taking total disbursements to $628m. After the August visit, IMF country manager Björn Rother said far-reaching structural reforms remained central to Tunisia’s quest for inclusive growth and higher living standards for all. Growth in the Tunisian economy slowed in the second quarter of the year, indicating that the road to recovery remains bumpy. Annualised GDP growth slowed to 1.8% in the three months to June 2017 from 2.1% in the previous quarter but still up from the recent trough of 1.1%.