At the start of December 2013 the IMF reported that the Tunisian economy had underperformed in 2013, achieving a real growth rate of 2.7%, the two major economic drivers being public and private services. Inflation fell to 5.8% year on year by the end of October 2013 and is expected to ease further in 2014. Tunisia’s current account deficit has continued to climb, reaching 8.8% by the end of 2013. In part this is down to weak tourism revenues and weak external demand for Tunisian products. The IMF warned that the Tunisian government needs to get a tighter grip of its budget and external deficits and generate more rapid and more inclusive growth in 2014. The current political crisis and recent security developments, as well as the deteriorating economic situation among Tunisia’s main trading partners, are having an impact on economic activity. Fiscal and external imbalances continue to worsen, and the reforms (most of which are already in progress) are facing some constraints and are proceeding more slowly than anticipated, the IMF said.