The Togo Economic Outlook report for September 2024 highlights resilience in economic activity due to reforms, with growth projected to stabilize at 5.4% in 2024-25. The report stresses the need for continued reforms to elevate agricultural productivity and improve services for vulnerable populations, essential for reducing socioeconomic disparities and enhancing development.
The Togo Economic Outlook report released in September 2024 outlines recent developments regarding economic growth and poverty reduction, while addressing key risks and priorities for structural transformation. It specifically examines the agricultural sector’s vulnerability to climate change and suggests that expanding agroforestry systems could enhance smallholder farmers’ livelihoods, ensuring food security and mitigating greenhouse gas emissions.
Recent years have demonstrated resilience in Togo’s economic activity, largely fueled by fiscal reforms and stimulus measures. As these measures transition into a consolidation strategy, the growth outlook remains promising. Projected growth is expected to stabilize at approximately 5.4% in 2024-25 and then increase to 5.8% by 2026, bolstered by private investment, moderate inflation, and an upturn in global demand.
The growth trajectory of Togo will depend significantly on the speed of ongoing reforms. By 2030, growth is anticipated to stabilize between 5.5% and 6%, conditional upon the successful implementation of ambitious reforms that target agricultural productivity enhancement, private sector development, and human capital strengthening.
Enhancing the resilience and productivity of the agricultural sector is vital for achieving structural transformation and ensuring food security amid climate risks. Furthermore, improving economic opportunities and providing basic services to vulnerable populations is essential to diminish socioeconomic inequalities and foster overall development.
In conclusion, the Togo Economic Outlook emphasizes the importance of strategic reforms to enhance economic growth and resilience. The country must focus on bolstering its agricultural sector and guaranteeing access to basic services for vulnerable populations to reduce disparities and promote inclusive development. With sustained effort in these areas, Togo can expect to achieve a robust and stable economic future.
Original Source: reliefweb.int
