Togo’s economic growth could reach 3.7% in 2011 following the good implementation of the country’s economic and fiscal policies, an International Monetary Fund (IMF) delegation which completed its mission in Togo on Tuesday said.
According to a statement issued by the delegation, “indicators of the economic activity suggested a real economic growth at around 3.4% in 2010, slightly up, compared to 2009.”
In 2011, “growth is expected to keep climbing to 3.7%,” the IMF team disclosed.
The delegation said although “economic growth is on an upward trend, it remains, however, modest in a macroeconomic stability context.”
The IMF, which hailed Togo’s efforts in the implementation of economic reforms said that inflation at the end of June stood at 2.1%.
The overall budget deficit in 2011 is expected at 2.8% of Gross Domestic Product (GDP) against 2.9% in 2010 and 2009 because of “considerable efforts in mobilizing revenues.”
The IMF mission, led by Marshall Mills, Deputy Division Chief of the IMF African Department, visited Lome from 8-21 September and held talks with the Togolese authorities as part of the fifth review of the programme implemented by Togo in respect of the Extended Credit Facility (ECF).
