Togo: Over 30% of the government’s spending in 2019-2021 went to public investments

Investments
Wednesday, 20 July 2022 15:27
Togo: Over 30% of the government’s spending in 2019-2021 went to public investments

(Togo First) - The Togolese government dedicated nearly a third (32%) of its budget spending to public investment over the past three years, according to data compiled by Togo First. 

From CFA241.2 billion in 2018, capital expenditures rose to CFA379.8 billion in 2019 and peaked at CFA394.2 billion in 2020. This represents an average increase of 59.8% over the period. It is, however, below what the government was aiming at in its 2021-2023 state program budget. In 2019, Lomé planned to devote CFA241 billion to capital expenditures, 474 billion in 2020, and 431 billion last year. 

The government claims that the surge was driven mainly by “spending on the rehabilitation of health centers, the construction, and rehabilitation of roads and rural tracks, as well as on spending to get the equipment needed to fight the coronavirus pandemic.”

On its Public Investments Program (PIP), the country spent a little over CFA890 billion, with over 47% of this amount or  CFA423.8 billion coming from internal resources. The remaining monies were external loans and grants (466.5 billion).

Meanwhile, spending excluding the PIP more than doubled to a total of CFA125 billion. Togolese authorities attribute this unforeseen situation to defense and security expenditures, spurred by the jihadist threat which has grown in the northern part of the county in recent years.

Fiacre E. Kakpo

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