The Togo Economic Outlook (September 2024) highlights recent economic resilience and growth prospects in Togo, addressing climate change impacts on agriculture and the importance of agroforestry for smallholder farmers. Growth is expected to stabilize at 5.4%, with potential increases to 5.8% by 2026. Emphasizing reforms, the report indicates significant developments might lead to a 5.5%-6% growth range by 2030 while focusing on improving access for vulnerable populations to key services.
The Togo Economic Outlook report for September 2024 analyzes recent developments in the economy, highlighting growth prospects, risk factors, and priorities for structural transformation and resilience of vulnerable communities. Of particular consideration is the impact of climate change on agriculture and the potential of agroforestry systems to enhance smallholder farmers’ livelihoods while bolstering food security and mitigating greenhouse gas emissions.
Recent trends indicate that Togo’s economic activity has shown resilience due to ongoing reforms and fiscal stimulus, transitioning now towards a consolidation approach. Growth projections remain optimistic, with expectations of stabilization at approximately 5.4% for 2024-2025, and a rise to 5.8% in 2026, driven by increased private investment, lower inflation, and a recovery in global demand.
The future growth of Togo largely hinges on the speed of reforms. If ambitious strategies to enhance agricultural productivity, engage the private sector in vital sectors, and improve human capital are effectively implemented, growth may stabilize at between 5.5% and 6% by 2030. This is key for the nation’s structural transformation and food security amidst climate challenges.
Enhancing economic opportunities and ensuring vulnerable populations have access to essential services will play a critical role in reducing socio-economic disparities and expediting development throughout the country.
The Togo Economic Outlook report emphasizes the country’s resilience amidst challenges, forecasting stable growth driven by reforms and private investment. It underscores agriculture’s pivotal role in achieving food security and economic development as well as the need for improved access to services for vulnerable populations to foster equity. Continued focus on both environmental sustainability and structural transformation will be vital for the nation’s future prosperity.
Original Source: reliefweb.int
