Togo has a worse deficit in 2015

The Central Bank of West African States (BCEAO) presented Togo's external accounts for the year 2015. It was yesterday in Lomé. The country has a structural deficit of CFAF 80.207 million.

The BCEAO made public the 7th report on the external accounts of Togo for the year 2015 this Thursday. This shows a surplus of CFAF 114 995 million, while in 2014 it was 76 940. The current account deficit excluding public donations is 13.1% of GDP compared to 12.1% in 2014. Between 2014 and 2015, the deficit Of the current account balance increased to CFAF 46 190 billion.

According to the report, the net international investment position "shows a decline of 80 2017 million", it is said.

Kossi Tenou, National Director of the BCEAO, said that "the deficit worsened in 2015 because of massive imports of capital goods, especially as Goods and services, there have been no advances as such; On the contrary, exports in quantity have declined ".

To correct this, he insists, "we have to diversify the products that are exported because on several we see that the structure of our exports has not changed, it is always the same products that we export, Coffee, cocoa, cotton and phosphate, and if international prices decline, it also

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