The Togo Economic Outlook report from September 2024 emphasizes recent economic developments, growth prospects, and key priorities for structural transformation and resilience, particularly in the agricultural sector. It discusses the impact of climate change and the potential of agroforestry systems to support smallholder farmers, while projecting stable growth rates of about 5.4% to 6% by 2030 with substantial reforms.
The September 2024 Togo Economic Outlook report highlights significant developments crucial for growth and poverty alleviation, while emphasizing key risks and strategic priorities for enhancing the structural transformation of the economy and the resilience of marginalized populations. It offers a detailed examination of the effects of climate change on agriculture and proposes that expanding agroforestry systems can aid small farmers in enhancing their livelihoods, boosting food security, and minimizing greenhouse gas emissions.
The report indicates that Togo has demonstrated economic resilience in recent years, supported by various reforms and fiscal stimulus policies. As these measures transition towards a consolidation strategy, growth remains promising, projected to stabilize at approximately 5.4% in 2024-2025, and to rise to 5.8% in 2026. This growth is anticipated to be propelled by an increase in private investments, moderate inflation rates, and a resurgence in global demand.
Future growth potential in Togo will significantly depend upon the thoroughness of implemented reforms. The outlook projects stabilization of growth rates between 5.5% and 6% by 2030, contingent upon the execution of ambitious initiatives aimed at enhancing agricultural productivity, engaging the private sector for key sector development, and bolstering human capital.
Furthermore, constructing a more resilient and productive agricultural sector is deemed essential for structural change and ensuring food security amid ongoing climate challenges. Enhanced economic prospects and improved access to essential services are expected to alleviate socioeconomic imbalances and foster developmental progress.
In summary, the Togo Economic Outlook of September 2024 underscores the country’s economic resilience and growth prospects, significantly influenced by ongoing reforms and fiscal measures. The report highlights the critical role of enhancing agricultural productivity and engaging vulnerable populations to foster overall development, while addressing climate change impacts. Strategic investments and reforms are essential for achieving sustainable economic growth and improving living conditions in Togo.
Original Source: reliefweb.int
