多哥经济更新，2025年8月：在不确定时期促进增长和恢复财政空间（英）2025

Public Disclosure Authorized Togo’sEconomic Update BOOSTINGGROWTHANDRESTORINGFISCALSPACEINUNCERTAINTIMES August2025 Economic Policy Global Department ©2025 The World Bank 1818 H Street NW, Washington DC 20433Telephone: 202-473-1000; Internet:www.worldbank.org Some rights reserved. This work is a product of the staff of The World Bank. The findings, interpretations, and conclusionsexpressed in this work do not necessarily reflect the views of the Executive Directors of The World Bankor the governments they represent. The World Bankdoes not guarantee the accuracy of the data includedin this work. The boundaries, colors, denominations, and other information shown on any map in this workdo not imply any judgment on the part of The World Bank concerning the legal status of any territory orthe endorsement or acceptance of such boundaries. Rights and Permissions The material in this work is subject to copyright. Because The World Bank encourages dissemination of itsknowledge, this work may be reproduced, in whole or in part, fornon-commercialpurposes as long as fullattribution to this work is given. Attribution—Please cite the work as follows: “World Bank. 2025.Togo Economic Update:Boosting growthand restoring fiscal space in uncertain times. Washington, DC: World Bank.” All queries on rights and licenses, including subsidiary rights, should be addressed to World BankPublications, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2625;e-mail:pubrights@worldbank.org. CONTENTS EXECUTIVE SUMMARY..................................................................................................................viSUMMARY OF KEY POLICY OPTIONS.............................................................................................viiiACRONYMS AND ABBREVIATIONS....................................................................................................xACKNOWLEDGMENTS...................................................................................................................xiCHAPTER I-TOWARDS SUSTAINABLE AND INCLUSIVE GROWTH IN TOGO: THE ROLE OF PRIVATEINVESTMENTS...............................................................................................................................21.RECENT ECONOMIC DEVELOPMENTS........................................................................................22.ECONOMIC PROSPECTS AND RISKS...........................................................................................8CHAPTER II-ENHANCING REVENUE MOBILIZATION AND PUBLIC INVESTMENT MANAGEMENT TORESTORE FISCAL SPACE.................................................................................................................161.INTRODUCTION....................................................................................................................162.DOMESTIC REVENUE MOBILIZATION.......................................................................................162.1.TAX REVENUE MOBILIZATION IN TOGO: RECENT TRENDS AND REFORM BENEFITS...............172.2.TAX STRUCTURE AND EFFICIENCY...................................................................................202.3.TAX POLICY AND ADMINISTRATION MEASURES AS SOLUTIONS TO BOOST TAX REVENUEMOBILIZATION IN TOGO...........................................................................................................222.4.KEY POLICY OPTIONS........................................................................................................263.PUBLIC INVESTMENT MANAGEMENT......................................................................................273.1.STRENGTHENING PUBLIC INVESTMENT EFFICIENCY..........................................................273.2.STIMULATING PRIVATE SECTORINVESTMENT..................................................................303.3.KEY POLICY OPTIONS........................................................................................................31REFERENCES...............................................................................................................................33ANNEX.........................................................................................................................................x List of Figures Figure 1-Togo has managed to maintain robust and stable growth over the last decade..........................3Figure 2-The rural-urban divide has widened since 2018, and food security remains high.......................3Figure 3-Decelerating public investment contributed to slower growth in 2024........................................4Figure 4-Industrial activity moderated due to softening mining and energy production...........................4Figure 5-Rainfalls were generally in line with historical norms in 2024, excluding the third quarter withbelow average precipitations........................................................................................................................4Figure 6-Vegetation