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Togo: public investment spending up 48% in 2020

24/08/2021
Categories: Economy/Forex

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The latest statistics published by the Central Bank of West African States (BCEAO) reveal that the share of public investment expenditure in the Gross Domestic Product (GDP) carried out in 2020 reached 444 billion FCFA. This equates to a 48% increase.

The capital expenditure-to-budget revenue ratio in Togo is experiencing significant change, despite the adverse effects of the health crisis on the economies. This proportion represents 48.01% of budget revenue estimated at CFAF 926 billion, including grants. An upward trend compared to the previous year when only 234.7 billion FCFA had been devoted to budgeted investment needs, i.e. 28.5% of the 822 billion FCFA of revenue and donations collected. With this performance in 2020, Togo ranks fourth among WAEMU economies that allocate a significant portion of their budget revenue to public investment. This performance is mainly due to the reduction in the State's lifestyle, the increase in the share of the budget allocated to the social sectors and economic resilience in times of health crisis. For foreign direct investments (FDI), they also experienced during the same year, a significant increase of 85%.

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