Togo expects the economic recovery to start next year

Economic governance
Thursday, 22 October 2020 16:47
Togo expects the economic recovery to start next year

(Togo First) - After its growth forecasts for 2020 were hampered by the pandemic, Togo foresees a recovery in the next two years with a projected growth of 4.7% in 2021. 

Farther ahead, Lomé hopes to see its real GDP grow by 5.8% growth in 2023, in the best-case scenario. Similarly, the inflation rate would shift from 1.7% next year to 2% in 2022 and 1.9% in 2023. 

Budget resources slightly down

In the process, the country expects its budget earnings to stand at CFA842.9 billion next year, thus 2.7% less than in 2019 but far better than when they were forecast to fall by 40%. Optimistic, despite circumstances, Lomé anticipates budget revenues to rise to CFA887.7 billion and CFA903.5 billion in 2022 and 2023, respectively.

For their part, treasury funds should increase by 2.6%, from CFA657.2 billion this year to CA674.5 billion in 2021. However, by 2023, they should fall to CFA618.7 billion. 

These initial projections are found in the Pluriannual Economic and Budget Planning Document (DPBEP 2021-2023). The document is presently being discussed by the national assembly. 

Ayi Renaud Dossavi

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