Two deadly militant attacks on tourists in Tunisia this year will probably inflict the worst damage on the nation’s economy since the 2011 revolt that ended Zine El Abidine Ben Ali’s autocratic rule.

Economic growth is expected to slow to 1 percent this year from 2.3 percent in 2014, Finance Minister Slim Chaker said in an interview on Saturday. That’s the slowest pace in four years, according to International Monetary Fund data.

The government will try to keep the budget deficit at 5 percent of gross domestic product, the minister said.

Tunisian President Beji Caid Essebsi declared a 30-day state of emergency on July 4, about a week after a gunmen shot dead 38 tourists, mostly British, in the beach resort of Sousse. In March, militants carried out an attack on the Bardo National Museum in Tunis that killed more than 20 people.

The attacks are “credit negative,” Moody’s Investors Service said this month. “They threaten the nation’s economic outlook, investment activity and the travel and tourism industry, a key contributor to GDP,” it said.


This article was written by Jihen Laghmari and Salma El Wardany from Bloomberg and was legally licensed through the NewsCred publisher network.

Photo Credit: An empty beach at Sousse, Tunisia. Tony Hisgett / Flickr