Togo: Assembly adopts a State budget of XOF1,466.2 billion for 2020, 6% up compared to previous estimates

Public finance
Thursday, 14 November 2019 17:21
Togo: Assembly adopts a State budget of XOF1,466.2 billion for 2020, 6% up compared to previous estimates

(Togo First) - Overall, Togo's State budget for 2020, revenues and expenditures, has been set to XOF1,466.2 billion, up about 6% compared to previous estimates. 

The government announced the increase on November 13 after the ministers' council held the same day. 

Expectations were scaled up in prevision of a greater household final consumption expenditure and private investment, spurred by the remarkable improvement in the business climate, and initiatives launched under the national development plan. 

Next year, economic growth is forecast at 5.5%, up 0.2% compared to 2019 (where the figure was scaled up twice). 

To reach its goals for the coming year, Lomé "will pursue efforts to boost internal revenues, better allocate public resources based on efficient public spending and better control of budget deficit," the report from the ministers' council indicates. In this framework, the national tax office, OTR, should collect more than XOF660 billion of taxes. 

Beyond these, the government "is fully committed...to taking all measures necessary to accelerate economic growth and appropriately meet social needs." Regarding the latter, special attention will be given, through schemes such as the Community Development Emergency Programme (PUDC), the Project for Support to Vulnerable Populations (PAPV), agro-industrial hubs, and projects aimed at boosting youth employment across various economic sectors.

Similarly, the government commits to "pursuing and boosting efforts relative to the development of rural roads, the rehabilitation of health equipment, and decentralization."  

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