Togo’s economy is projected to expand by 6.5 percent in 2026, up from 6.2 percent in 2025, as the government and financial authorities outline priorities to support sustainable growth and resilience amid global uncertainties.
The forecast was presented at the first regular 2026 meeting of the National Credit Council (CNC) held on Monday in Lomé, bringing together policymakers, regulators, and key economic stakeholders. Inflation is expected to rise moderately to 1.8 percent, compared with 0.4 percent in 2025.
Finance and Budget Minister Essowè Georges Barcola, who chairs the CNC, highlighted risks to the outlook, including higher hydrocarbon and agricultural input costs, disruptions in maritime and air logistics, and tightening liquidity in financial markets.
“We anticipated these shocks rather than simply absorbing them. Faced with this uncertainty, the government remains committed to structural reforms to strengthen economic resilience,” Barcola said.
To support the 2026 growth target, the CNC outlined key priorities focused on expanding innovative financing mechanisms, particularly for renewable energy projects, and increasing funding for food and agriculture companies. Authorities aim to boost domestic production and reduce reliance on imported goods, thereby strengthening food security and mitigating exposure to international price volatility.
The council also emphasised the importance of reinforcing the financial system’s capacity to support productive sectors, noting that the agri-food industry would be a central focus. Enhanced access to credit and investment for farmers and agribusinesses is expected to drive productivity, create jobs, and promote rural development.
Analysts say Togo’s growth strategy reflects a combination of cautious macroeconomic management and targeted investment in strategic sectors. By combining structural reforms with sector-specific financing, policymakers aim to build resilience against external shocks, including rising global commodity prices and regional geopolitical tensions.
Renewable energy projects, in particular, are seen as a dual opportunity to diversify the economy and reduce dependence on imported fuel, while supporting sustainable development goals. The council highlighted that financial incentives and innovative credit tools would be key to unlocking private sector participation in these initiatives.
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The 2026 CNC agenda also stressed improving financial inclusion and efficiency, particularly for small and medium-sized enterprises in agriculture and related industries. Strengthened credit systems are expected to increase lending to high-impact sectors, thereby stimulating economic activity and reinforcing overall stability.
Overall, Togo’s economic authorities remain optimistic that the combination of projected growth, structural reforms, and targeted financing will position the country to weather global uncertainties while fostering domestic production and sustainable development.
The National Credit Council will continue to monitor macroeconomic indicators throughout the year, adjusting policies and financing priorities as needed to ensure that the 6.5 percent growth target remains achievable despite potential external shocks.
