Analysis by Region - Emerging Markets - Togo
After the Covid-19 pandemic caused real GDP growth to slow to 1.8% in 2020, a strong rebound in the services sector aided this figure to jump to 5.3% last year. On the expenditure side, strong household consumption and high levels of fixed investment drove the recovery. The latter is set to remain robust over the medium term due to the implementation of the so-called Togo Roadmap 2020-25. On the other hand, external pressures arising from the Russia-Ukraine war will act as a dampener in the near term. As a result, real GDP growth of 4.8% is forecast for 2022. This figure is set ease gradually, with growth projected to average 4.2% p.a. over the 2023-25 period.
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