Togo records second highest budget revenue increase within WAEMU in 2018

Public finance
Monday, 19 August 2019 11:51
Togo records second highest budget revenue increase within WAEMU in 2018

(Togo First) - In 2018, Togo’s budget revenues soared by 13.4% compared to the year before. This was disclosed by the Central Bank of West African States in its latest annual report.

This is the second highest increase within the West African and Monetary Union (WAEMU). The country comes after Niger (+23.5%) and before Burkina Faso (+12.3%), the other two nations whose budget revenues grew the most over the past year.

In detail, the union collected XOF12,832.7 billion (18.4% of GDP) at end-2018, up XOF1,094 billion (+9.3%), over the period reviewed.

Despite this improvement, fiscal pressure rate remained low standing at 15.7% in 2018, thus below the 20% minimum standard set for 2019 across the union,” indicates the apex bank.

This year, the Togo Revenue Offie (OTR) set a target of XOF669 billion of taxes to be collected. The country, according to the entity, has already collected 48.8% of this amount during the first quarter of 2019.

Ayi Renaud Dossavi

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