The Togo Economic Outlook report of September 2024 assesses growth and poverty reduction, emphasizing reforms and fiscal strategies. It projects stable growth of about 5.4% in 2024-25, rising to 5.8% by 2026, driven by investments and inflation control. Structural transformation and enhancing agriculture are vital, as is supporting vulnerable communities to reduce inequalities and promote development.
The Togo Economic Outlook report, released in September 2024, evaluates recent advancements and forecasts regarding economic growth and poverty alleviation in the country. The analysis emphasizes the substantial risks and priorities essential for accelerating structural transformation and enhancing the resilience of vulnerable communities. Notably, it examines the effects of climate change on agriculture and highlights the potential benefits of expanding agroforestry systems for smallholder farmers, which could enhance livelihoods, boost food security, and lower greenhouse gas emissions.
The report indicates that Togo’s economy has demonstrated significant resilience in recent years, attributed to ongoing reforms and fiscal stimulus efforts. However, a shift toward a consolidation strategy is now underway. Despite a challenging international landscape, growth remains optimistic, with projections of approximately 5.4% in 2024-25, subsequently rising to 5.8% in 2026, bolstered by private investments, controlled inflation, and a resurgence in global demand.
The future growth potential for Togo hinges upon the speed and effectiveness of reforms. Projections suggest a stabilization of growth rates between 5.5% and 6% by 2030, contingent upon the implementation of ambitious reforms directed at improving agricultural productivity, engaging the private sector in pivotal sectors, and enhancing human capital development.
Moreover, the establishment of a resilient and productive agricultural framework is essential for structural changes and ensuring food security, especially in light of climate-related challenges. By expanding economic opportunities and providing improved access to essential services for vulnerable populations, Togo aims to diminish socioeconomic disparities and foster accelerated development.
In conclusion, the Togo Economic Outlook for September 2024 highlights the country’s resilient economic activity and growth prospects, alongside the pressing need for ambitious reforms to ensure sustainable development. The focus on agriculture and the expansion of agroforestry systems are pivotal strategies to enhance livelihoods and address climate change impacts. Additionally, addressing the needs of vulnerable populations will contribute to reducing disparities and accelerating overall development in Togo.
Original Source: reliefweb.int
