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.

 

 

  2013 2014 2015 2016 2017 2018
GDP growth (%) 6.1 5.9 5.7 5.1 4.4 4.9
Investment rate* 29.6 27.9 32.2 32.7 25.9 29.0
Inflation rate (annual average) 1.8 0.2 1.8 0.9 -0.8 0.5
Budget deficit* -4.4 -3.3 -6.2 -8.1 -0.3 -0.2
Current balance, grants included* -13.2 -10.0 -11.2 -9.7 -7.8 -8.3
Overall debt* 55.7 60.4 72.2 81.6 78.6 75.6

Sources : BCEAO except the debt data provided by the IMF (Regional Economic outlook report, April 2018)
* in % of GDP 

InstrumentDate of operationValue dateDeadlineAmount
(in millions of FCFA)
StatusMore