Economic Governance: Togo among top 5 most efficient countries in Africa (World Bank)

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Tuesday, 26 October 2021 16:52
Economic Governance: Togo among top 5 most efficient countries in Africa (World Bank)

(Togo First) - Togo is the fifth-best in Africa, in terms of economic governance efficacy, despite the lingering pandemic. The country was ranked by the World Bank, in its latest Africa’s Pulse report released on Oct. 6. 

According to the report which assesses how African countries adapt to climate change and economic transformation, “in Togo, the measures deployed to tackle the pandemic represent 6.8% of the GDP.” In the World Bank’s ranking, Togo comes behind Mauritius, Guinea Bissau, Seychelles, and Rwanda, and before South Africa, Chad, Sierra Leone, and Burundi. 

Togolese authorities commented: “These results prove the pertinence of actions taken and choices made by the Togolese government to resist the heath crisis’ shock and prepare the economy’s resilience.”

They added that as soon as the pandemic broke out in the country, they took a different route, opting to invest in promising sectors. Indeed, at the beginning of the crisis, Lomé launched various projects - such as the Novissi cash transfer scheme - and introduced several incentives - such as tax reductions - to support the different social layers.

“This option has enabled the country to be far more resilient and better cushion the pandemic’s effects,” the government said.

 Esaïe Edoh

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