Highlights

• In the face of the heightened protests in 2017, the Togolese economy recorded good economic performance. The growth rate of the GDP since 2015, remains above 5%. It is expected to remain at 4.4 percent in 2017 and 4.9 percent in 2018, driven mainly by public procurement, as well as agricultural production, mining and trade.
• The Togolese Government is implementing an ambitious national investment program to support national demand.
• Inflation remains under control at-0.8% on average in 2017, thanks to prudent monetary policy by the Central Bank (BCEAO) and the low level of food prices.
• The budget deficit, which was at 8.1% of GDP in 2016, should be reduced to 0.3% in 2017.
• The common external transactions deficit fell from 11.2% of GDP in 2015 to 7.8% in 2017, under the effect of an increase in exports and a weaker growth in imports.
• Between 2011 and 2017, Togo gained 6 places in the Doing Business ranking from the 162nd place to the 156th, thanks to the reforms and investments made to improve the business climate.
• Togo has a free trade zone with more than 60 companies having more than 12,000 employees and is a financial hub with a relatively high concentration of regional financial institutions.
• The debt ratio of Togo reached 78.6% in 2017. The Government has signed a three-year economic agreement with the IMF, whose main goal is to restore the viability of public finances while maintaining the social sectors.