Togo/Budget 2024: OTR charged with mobilising over CFAF 1,000 Billion in 2024
As a reminder, the Togolese State budget for the fiscal year 2024 was adopted on December 22, 2023, by the national representation and is estimated at over 2,000 billion CFA francs. This budget represents an increase of 10.3% compared to the 2023 fiscal year. The responsibility for mobilizing these financial resources lies in part with the Togolese Revenue Office (OTR).
For the year 2024, the OTR is tasked with mobilizing 1,042 billion CFA francs in tax revenues, contributing to the State budget.
This represents a 14% increase compared to the 912 billion CFA francs assigned by the government last year.
Specifically, taxes are expected to generate 519.9 billion CFA francs, while customs and indirect duties are projected to collect 522.2 billion.
To achieve this, the Togolese Revenue Office (OTR) plans to continue implementing its policy of simplifying procedures and expanding the tax base.
Control measures and efforts to combat tax fraud and evasion will also be strengthened.
These initiatives aim to achieve the set objective and contribute to the realization of development projects.
On the government side, part of the budget, amounting to 607 billion, will be financed through the UMOA Securities Market.
This forecast indicates a 5.7% increase compared to the previous year’s figure of 574 billion CFA francs.
The State Budget for the 2024 fiscal year, balancing resources and expenses at 2,179,125,009,000 CFA francs, allocates 669.2 billion CFA francs to social sectors, representing 48% of budgetary allocations.
Kokou BANISSA
