Togo Economic Update: Building Resilience for Future Growth

The Togo Economic Outlook report outlines recent economic developments, emphasizing the resilience of Togo’s economy, growth expectations of 5.4% in 2024-2025, and the crucial role of agricultural reforms and agroforestry in enhancing food security. Recommendations for reducing disparities and improving services for vulnerable populations are key priorities for structural transformation.

The Togo Economic Outlook, published in September 2024, details significant developments in growth and poverty reduction, highlighting major challenges and priorities for transforming the economy and supporting vulnerable groups. This report provides a comprehensive analysis of how climate change impacts agriculture and emphasizes the role of agroforestry in improving smallholder farmers’ livelihoods, enhancing food security, and lowering greenhouse gas emissions.

Togo has demonstrated economic resilience over recent years, attributed to effective reforms and fiscal stimulus initiatives, which are now shifting to a consolidation phase. Despite global uncertainties, growth projections remain optimistic, forecasted to stabilize around 5.4% in 2024-2025, before increasing to 5.8% in 2026, owing to rising private investments, controlled inflation, and global demand recovery.

The growth trajectory of Togo will rely heavily on the implementation rate of systemic reforms. By 2030, growth is expected to stabilize between 5.5% and 6%, contingent upon ambitious reforms aimed at enhancing agricultural productivity, stimulating private sector development, and bolstering human capital.

Strengthening the agricultural sector is essential for fostering structural transformation and ensuring food security amid climate-related challenges. Additionally, improving economic opportunities and access to fundamental services for at-risk populations will mitigate socioeconomic inequalities and promote overall development.

In summary, the Togo Economic Outlook underscores the need for continued reforms to sustain economic growth and resilience. It highlights the pivotal role that an adaptive agricultural sector and improved service access play in reducing vulnerabilities and fostering development. With a strategic focus on these areas, Togo can enhance its growth potential and secure a more equitable future for its population.

Original Source: reliefweb.int