Togo: draft collective budget, FCFA 71 billion increase in expenditure

On Monday December 16, 2024, Togo's Council of Ministers adopted an amending finance bill for the 2024 financial year, adjusting the initial budget upwards.

As a result, the budget, whose revision process has now begun, now balances out in terms of resources and expenses at 2250.6 billion FCFA, compared with 2179.2 billion FCFA initially forecast. According to the executive, this 3.3% increase, or 71.4 billion CFA francs, reflects new budget priorities in an economic context marked by sub-regional and international uncertainties.

"Through this amending finance bill, the government intends to pursue the implementation of structural reforms and development policies in line with the Government Roadmap 2025, while strengthening the means to fight terrorism," it states.

According to the government, the national economy should record growth of 6.6% in 2024, up from 6.4% in 2023, driven by the momentum observed in all economic sectors. That said, pressure on financing conditions has led to strategic budget adjustments, against a backdrop of a reallocation of savings to emergency spending.

According to Christian Trimua, Secretary General of the Government, this budgetary readjustment is in line with the principles of " budgetary sincerity " and transparency. The Finance Bill will then be submitted to Parliament for approval.

Source: www.togofirst.com