The Togo Economic Outlook report details recent economic resilience, growth prospects until 2030, and the impact of climate change on agriculture. It emphasizes the need for reforms to enhance productivity, mobilize the private sector, and improve access to services for vulnerable populations to achieve sustainable development.
The Togo Economic Outlook report, published in September 2024, analyzes recent economic developments, growth potential, and challenges in poverty alleviation. It focuses on the influence of climate change on agriculture and suggests that expanding agroforestry systems may improve livelihoods for smallholder farmers, enhance food security, and mitigate greenhouse gas emissions.
The report highlights that Togo’s economic activity has shown resilience in recent years owing to implemented reforms and fiscal stimuli. A transition to a consolidation strategy is currently underway. Despite global uncertainties, growth is anticipated to stabilize around 5.4% for 2024-2025, with an increase to 5.8% in 2026, driven by private investment, moderated inflation rates, and a rebound in global demand.
Future growth in Togo will heavily depend on the pace of reforms. Projections indicate a growth rate stabilization between 5.5% and 6% by 2030, contingent upon ambitious reforms that boost agricultural productivity, mobilize private-sector involvement in crucial sectors, and enhance human capital.
Fostering a more resilient and productive agricultural sector is essential for Togo’s structural transformation and food security amidst climate challenges. Ensuring increased economic opportunities and enhancing access to essential services for vulnerable populations will serve to diminish socioeconomic disparities and expedite development.
The Togo Economic Outlook underscores the country’s economic resilience and growth prospects amid challenges. By focusing on reforms in agriculture, enhancing private sector involvement, and improving human capital, Togo can stabilize and strengthen its growth rate. Enhancing agricultural productivity and expanding accessibility to essential services are crucial for fostering resilience, decreasing poverty, and achieving sustainable development in Togo.
Original Source: reliefweb.int
