Togo’s national development plan will boost growth, credit insurer COFACE says

Thursday, 18 April 2019 17:42
Togo’s national development plan will boost growth, credit insurer COFACE says

(Togo First) - In Togo, the national development plan will boost growth by encouraging investments, the credit insurer COFACE indicates in its 2019 report on sectoral risks and forecasts.

In the report that analyzes 161 countries, the insurer indicates that “the contribution of overall investments to growth should be important in 2019 due to the launch of projects in the national development plan -2/3 of which are private and 1/3 public.”

In addition, internal efforts in sectors like mining and agriculture, as well as the positive impacts of some partners on the country, should also boost exports to an extent to which they will exceed imports.

Consensual efforts in the agriculture and extractive sectors, as well as the expected recovery of some commercial partners such as Nigeria, should help exports grow and exceed imports, which will be more contained, leading to a positive net contribution of the trade balance to growth,” the report adds.

According to the French insurer, the political environment could slightly affect these economic trends. This environment could slightly reduce public consumption that represents about 14% of national GDP, the report indicates.

Ayi Renaud Dossavi

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