Togo’s general budget up 11.5% in 2019

Sani Yaya, Minister of Economy and Finance of Togo

The 2019 management budget bill is up 11.5% compared to 2018, due in particular to the increase in cash transactions, which went from 475.6 billion FCFA in 2018 to 576 , 8 billion in 2019.

It balances, in fact, revenues and expenses to 1.461 billion against a forecast of 1.311 billion for 2018, according to an announcement made Wednesday, October 3 by the Council of Ministers has adopted.

As in the past, announces the government, the budget forecasts for the year 2019 are based on the guidelines of its economic and social policy, and « on the macro-fiscal framework consistent with the three-year program supported by the Extended Facility. on May 05, 2017 with the International Monetary Fund (IMF) « .

It should be noted that Togo revised, in 2018, its budget, which now equilibrates to 1,308.1 billion. An action provoked by the evolution of the socio-economic and financial situation, characterized in particular by the socio-political crisis enamelled by violence having negatively affected, since the second half of 2017, the economic activity, thus reducing the level of mobilization of the receipts tax and customs.

Slight increase in growth rate

According to the executive, the drafting of this budget takes into account the international economic environment and the evolution of the national economy at the end of June 2018. In 2019, he announces, the economic activity  » will evolve in an environment marked by the implementation of projects in the National Development Plan (PND 2018-2022) « .

« Economic growth will be driven by final household consumption and private investment. An effort will be made to keep public investment at an acceptable level while managing public expenditure prudently and efficiently, « promises the government, which plans a growth rate of 5.1% in 2019 compared with 4.9% in 2018.

LEAVE A REPLY

Please enter your comment!
Please enter your name here