Togo: Deputies are reviewing the 2022 budget bill

Economic governance

Wednesday, 01 December 2021 12:36

Togo: Deputies are reviewing the 2022 budget bill

(Togo First) - The National Assembly has been working since Tuesday, November 30, on Togo's 2022 budget bill. The assessment was launched by the President of the National Assembly, Yawa Djigbodi Tsègan, in the presence of some government representatives, namely the Minister of Economy and Finance, Sani Yaya, and the Minister in charge of relations with the institutions of the Republic, Christian Trimua.

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"Similar to the year 2021, Togo’s 2022 budget bill will take the form of a program budget. It focuses primarily on the continued structuring and approving of procurements and strengthening the role of financial controllers," said the parliament.

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"In this context, Togo has chosen a recovery-oriented budget bill. The situation is good, growth is possible and within reach. This is the time to prepare Togo for economic success by 2025, amid the disturbing health and security issues we currently face. This clarity and readability of the finance bill are quite valuable for the citizen's confidence," said the President of the National Assembly Yawa Djigbodi Tsègan, while urging the members of the committee to have frank and constructive discussions, towards a thorough review of the draft bill submitted by the government.

The 2022 budget is projected at CFA1,760 billion in expenditures and revenues, according to the draft adopted by the government on November 12. This amount is 15.7% more than in 2021 where it stood at CFA1,521.3 billion. Optimistic but cautious, in a context of recovery still marked by global uncertainties, the budget bill projects growth at 6.1% in 2022, against 5.3% expected in 2021.

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REFORMS OVERVIEW

STARTING A BUSINESS (more info)

At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

TRADING ACROSS BORDERS (more info)

In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.