Togo’s economy is expected to record a growth rate of 6.3% in 2025, driven mainly by the strong performance of the services sector, according to forecasts from the Ministry of Economy and Finance.
During the first seven months of the current year, the services sector posted an 8% increase in turnover, while commercial activity rose by 3%, said Minister of Economy and Finance Essowé Georges Barcola during Tuesday’s meeting of the National Credit Council (CNC).
Industrial production increased by 8%, the minister added, as reported by local media, noting that the business climate index remains stable — reflecting continued confidence among business leaders.
Inflation has declined significantly, with an average rate of 1.2% at the end of June 2025, compared to 3.2% a year earlier, thanks to efforts aimed at ensuring price stability. Meanwhile, public debt fell to 65% of GDP, down from 69% in December 2024, remaining below the 70% community threshold set by the West African Economic and Monetary Union (WAEMU).
Barcola, who also serves as chairman of the CNC, highlighted the significant contribution of the financial sector to this performance, noting that the volume of bank loans granted to economic operators increased by 22% year-on-year, reaching 543 billion CFA francs in the first half of 2025.
The International Monetary Fund (IMF) recently ranked Togo among the countries with strong debt-carrying capacity, despite the increase observed in recent years, while emphasizing the resilience of the Togolese economy, supported by projected economic growth of 5.2% in 2025.
