The September 2024 Togo Economic Outlook examines growth prospects and poverty reduction efforts, emphasizing the resilience of the economy amidst climate change challenges. It highlights the importance of agroforestry, ongoing reforms, and enhancing access to services for vulnerable groups to foster development and food security.
The Togo Economic Outlook report, released in September 2024, provides insights into the nation’s growth and poverty alleviation strategies, emphasizing the importance of enhancing resilience among vulnerable groups. A significant focus is placed on the impact of climate change on agriculture and the potential benefits of expanding agroforestry systems, which can assist smallholder farmers in boosting their livelihoods while enhancing food security and minimizing greenhouse gas emissions.
Economic activity in Togo has demonstrated considerable resilience over recent years, bolstered by reforms and fiscal stimulus measures. As these measures transition to a consolidation strategy, growth prospects remain promising despite a challenging international landscape. The economy is projected to stabilize at approximately 5.4% in 2024-25, with expectations of strengthening to 5.8% in 2026 due to private investment, moderate inflation, and a revival in global demand.
The growth trajectory of Togo is closely linked to the pace of ongoing reforms. By 2030, growth could stabilize between 5.5% and 6%, assuming robust reforms are enacted to increase agricultural productivity, promote private sector involvement, and enhance human capital development.
To effectively navigate climate pressures, it is imperative to cultivate a more resilient and productive agricultural sector, which is foundational for the country’s structural transformation and food security. Furthermore, amplifying economic opportunities and improving access to essential services for vulnerable populations is essential for mitigating socioeconomic disparities and fostering overall development.
In summary, the Togo Economic Outlook underscores the nation’s resilience and growth potential amidst continuing reforms and international challenges. By focusing on agricultural productivity and socioeconomic equity, Togo aims to achieve sustainable growth while addressing climate change impacts. Future reforms are critical for maintaining and enhancing growth levels, thus ensuring the improvement of living standards for all citizens.
Original Source: reliefweb.int
