The Togo Economic Outlook report, released in September 2024, examines recent economic developments and future growth prospects. It also addresses poverty reduction strategies, key risks, and priorities for structural transformation to bolster resilience among vulnerable populations. The report delves into the impact of climate change on agriculture and suggests that expanding agroforestry systems could enhance smallholder farmers' livelihoods while improving food security and reducing greenhouse gas emissions.
According to the report, "Economic activity in Togo has been resilient in recent years," supported by reforms and fiscal stimulus measures now transitioning to a consolidation strategy. Despite an uncertain international environment, growth prospects remain positive. Growth is projected to stabilize at around 5.4% in 2024-25 and strengthen to 5.8% by 2026, driven by private investment, moderate inflation, and a global demand recovery.
The pace of reforms will significantly influence Togo's growth potential. With ambitious reforms targeting agricultural productivity increases, private sector mobilization for key sector development, and human capital strengthening, growth should stabilize between 5.5% and 6% by 2030.
A more resilient and productive agricultural sector is deemed crucial for structural transformation and food security amidst climate pressures. Additionally, increasing economic opportunities and access to basic services for vulnerable populations is expected to reduce socioeconomic disparities and accelerate development.