Togo: IMF and AfDB confirm 5% and 5.3% growth for 2019 and 2020 respectively

Economic governance
Monday, 18 February 2019 13:46
Togo: IMF and AfDB confirm 5% and 5.3% growth for 2019 and 2020 respectively

(Togo First) - Togo should grow by 5% in 2019, Sampawende Jules Tapsoba, IMF’s resident representative announced last Friday.

This forecast is similar to that made by the AfDB in its last Togo economic outlook. According to the institution, Togo would grow by 5% in 2019 and 5.3% in 2020.

This encouraging outlook, after a slowdown due to the socio-political crisis and a decrease in public investments, will be spurred by the agriculture, energy and financial sectors and the first realizations in the framework of the National Development Plan.

The IMF further reveals that public debt that was around 81% of GDP in 2017, at the start of the 3-year program supported by a $241 million Extended Credit Facility, should decrease to under 70% this year.

Ayi Renaud Dossavi

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