Togo economic update: unlocking Togo’s potential
According to the Togo Economic Update released by the World Bank, trade openness and increased private investment mobilization will be key to unlocking Togo’s growth potential. Titled Unlocking Togo’s Growth Potential, the report begins with an analysis of the performance of Togo’s economy, which has been buffeted by multiple shocks since 2020, and the drivers of growth over the medium term. Against the backdrop of a persistently challenging global environment, economic growth is expected to remain at around 5.2% in 2023 and 2024, before gaining strength and climbing to 5.8% in 2025, buoyed by a rebound in external demand and favorable conditions for private investment. The baseline scenario projections for the medium term have growth leveling off at 5.5% through 2030. An ambitious reform program that includes the mobilization of funds to help Togo achieve its climate goals could, however, quicken the pace of growth to 7%.