Parliament reviews State budget and resources amidst the covid-19 pandemic

Economic governance
Thursday, 24 September 2020 12:15
Parliament reviews State budget and resources amidst the covid-19 pandemic

(Togo First) - Togo’s national assembly, through its financial commission, commenced on Sept. 22, 2020, the budget orientation debate to discuss budget issues with the government. 

Among others, participants will discuss the 2021-2023 economic and budgetary planning document. The latter forecasts potential for fund mobilization over the period concerned, as well as for deciding how these funds will be distributed to ministries and institutions for implementing budgetary programs. 

The government defines a certain profile of expenditures and revenues for three years, taking into consideration the country’s economic situation, and it just submitted this document to the national assembly,” said Mawussi Djossou Sémondji, head of the assembly’s financial commission. Then, he further explained, the assembly discussed, in the presence of government officials, providing recommendations on the profile submitted.  

This year, the talks are extremely important, considering the novel coronavirus and its impacts on the global and national economies. At the regional level, it should be recalled that the WAEMU convergence pact was suspended. 

This said, recent forecasts put Togo’s GDP growth in 2020 at only 0.7% (against 5.5% expected initially). For the coming year, the government intends to streamline its budget strategy, relative to the distribution of resources and expenditures. 

This will involve amending the national development plan by taking into account the current global economic context. 

Ayi Renaud Dossavi

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