Togo's government seeks XOF400 billion to cushion coronavirus' impact on the economy

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Friday, 03 April 2020 13:58
Togo's government seeks XOF400 billion to cushion coronavirus' impact on the economy

(Togo First) - The Togolese government seeks to raise XOF400 million to cushion the economic impact of the coronavirus pandemic in the country.

The sum corresponds to the budget of a fund created especially to preserve the economy against the disease which continues to spread across the continent. This was announced by president Gnassingbé last Wednesday.

No Togolese citizen will be ignored in this battle we are fighting together, the leader said.

The amount mentioned is about 30% of Togo's budget for 2020 (around 1400 billion). It will be used to finance all socioeconomic measures initiated by the government to mitigate the virus' impact on the economy, support businesses, SMEs and SMIs especially.

The funds sought by authorities should come from the State, its partners, and any other willing contributor.

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