On October 27, 2021, the Togolese government announced that it had adopted a preliminary draft amending finance law, fiscal year 2021, projected at CFAF 1,702.7 billion in revenue and expenditure, against CFAF 1,521.5 billion in the law of initial finances. This represents an increase of 11.9%.
According to a press release from the Council of Ministers held today, Lomé intends, through this draft amending finance law, “to continue the efforts already undertaken to deal with the fight and the impact of Covid-19 while continuing the efficient implementation of the various projects of the government roadmap ”. This, in a context marked by the resumption of economic activities.
This recovery, says the government, will be mainly driven by counter-cyclical investments in infrastructure and by the increase in agricultural production.
Togo’s latest projections show growth up to 5.3% in 2021, against 1.8% in 2020. For its part, the average annual growth of real GDP would be 6.3% in the medium term. rising from 6.1% in 2022 to 6.5% in 2024.