4.2.2.2 Evolution
of some ratios of domestic debt and domestic debt causes
4.2.2.2.1 Evolution of some ratios
domestic debt
4.2.2.2.1.1 Trend of the domestic debt / GDP ratio
Domestic debt related to GDP (graph N°7, Appendix 3)
between 1998 and 2008 was over 28% of GDP. Its trend was upward until 2000 when
it reached its highest rate which was 32.38% of GDP. In late 2008, it was
32.29% of GDP that year. The weight of domestic debt is not at a good level
because domestic debt is almost one- third of GDP.
4.2.2.2.1.2 Trend of the domestic debt/ Revenue ratio
The analysis of the curve representing the ratio of domestic
debt to income reveals that domestic debt exceeds revenue (Graph N°8,
Appendix 3). This reflects the difficulties of the State in the collection of
taxes; so this explains this mismanagement in some state-owned companies. We
should also consider the inconvenience caused by the energy crisis and the
breakdown of financial relations determined by Togo's partners for about
fifteen years.
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