Spurred by economic recovery, Togo’s economy is expected to grow 6.1% in 2022

Economic governance
Friday, 01 October 2021 14:30
Spurred by economic recovery, Togo’s economy is expected to grow 6.1% in 2022

(Togo First) - Togo expects its real GDP to grow 6.1% as the economy recovers. The forecast, written in the 2022-2024 multi-year economic and budgetary planning document (DPBEP 2022-2024), was discussed on Sept. 30 by deputies during a budget orientation debate.

The projection beats the 4.8% growth expected for 2021, and last year’s estimated growth of 1.8% as the country was hard-hit by the Covid-19 pandemic.

“In 2022-2024, the national macroeconomic environment will be marked by the implementation of the post-Covid-19 economic recovery plan, in line with the government's development policy contained in the updated PND,” the national assembly said. 

Next year, the DPBEP projects budget earnings to stand at CFA1,035.3 billion, thus up 23.3% compared to this year. And if the economy recovers well, they should reach CFA1,060.9 billion and 1,092.5 billion in 2023 and 2024, respectively. Regarding expenditures, they are expected at CFA1289.3 billion in 2022, up 15% against CFA1,120.4 billion in 2021.

It is worth noting that the positive forecast is issued amid uncertain times, worldwide; times when Covid-related pressures remain, despite many efforts to tackle them and restart the global economic machine.

Ayi Renaud Dossavi

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