The Ministers of Economy and Finance and that of Planning presented Tuesday in the Council of Ministers a communication relating to the presentation of the results of the rebasing of the gross domestic product (GDP) of Togo.

GDP rebasing is the act of changing the base year of the national accounts. A device used by many countries.

In Togo, it covers the years 2016 and 2017.

In fact, the gross GDP of 2016 and 2017 increased significantly: 36.5%.

The revaluation of nominal GDP had significant effects.

The results show that all the first rank convergence criteria have been respected.

Indeed, the criteria of debt ratio and budget balance (including grants) in relation to GDP have improved.

Thus, the debt ratio (debt relative to GDP) now stands at 51.9% in 2019 compared to 68.3% in the old accounting system (SNA 1993).

On this basis, the revised forecasts show a debt ratio of 51.8% against 68.6% in 2020 (in forecast).

On the other hand, the tax pressure rate fell from 20.8% to 13.6% in 2019 and from 21.1% to 14.6% in 2020 (in forecast) for a standard of at least 20%.