Under the finance law drawn for the 2022 fiscal year, the Togolese government intends to devote CFA518 billion to investment projects that are part of its Public Investment Program (PIP). The forecast is well above last year’s projections which were revised to CFA392 billion following the October collective.
The projected public investment spending should make up about 40% of the overall budget expenditures forecast for 2022. The country plans to finance CFA194 billion or 37% of the amount from internal resources. Regarding the remaining CFA324 billion, it is expected to come from donors (CFA178 billion) and lenders (CFA145 billion).
Overall, in addition to non-PIP expenditures, estimated at CFA17 billion, capital expenditures could reach CFA535 billion by 2022. These funds will especially serve to support the “Togo 2025” roadmap, which prioritizes social inclusion and employment. Projects falling under this roadmap span a wide range of areas, from the digital economy to coastal protection, energy, access to drinking water, strengthening the urban and rural road network, and education.
According to the Minister of Economy and Finance, Sani Yaya, “nearly 61% of the projects and reforms” contained in the roadmap “have been started” and are “in their implementation phases.”
Original story on TogoFirst