The real economic growth rates of Togo decreased from 5.3 percent in 2015 to 5.0 percent in 2016, official website republicoftogo.com on Monday reported.
The information is contained in "African economy outlook," a review of the African development bank (AfDB) on development indicators in Africa as part of its 52nd General meeting that opened on Monday at Ahmedabad, in India.
The review explained this 0.3 point decrease of economic growth rates in Togo by the fall in public investment and the switching of port traffic in the country to others ports in the sub-region.
The diversion of the port traffic followed the strict application by Togo of the regulation N°14 of the West African economic and monetary Union (WAEMU-Uemoa) for axle load control.
In 2016, thanks a good rainfall, the agricultural sector contributed 1.2 points to the economic growth in Togo against -1.5 points the previous year.
AfDB's report also revealed the economy of Togo saw significant public investments and a sustained growth over the five-year period 2012-2016.
In the aftermaths, the public debt of the country increased to 76.0 pct of the Gross Domestic Product (GDP) in 2016, from 48.6 pct of GDP in 2011. This level of indebtedness is above the Uemoa community standards ratio which was set at 70 pct of the GDP.
Meanwhile, a 2017-2019 program as part of the Extended Credit Facility with the International monetary fund (IMF) will help to ensure long-term debt sustainability.
According to the review, new budget guideline will enable Togo to reduce the public debt of the country from 76.0 pct of the GDP in 2016 to 56.4 pct of the GDP by 2021.
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