LOME, Dec 6 (Reuters) - Togo’s economy will grow at 5.3 percent in 2013, slightly up from the 5 percent estimated for this year, according to a government forecast published on Thursday.
The tiny, cotton and phosphate-producing West African nation is trying to push through economic reforms to expand its economy, which struggled during decades of single party rule but has seen signs of progress in recent years.
The statement said the government forecast 728.015 billion CFA francs ($1.45 billion) in spending in 2013, nearly 11 percent higher than this year.
The government said that a budget deficit of slightly under $24 million would be plugged by donor funding.
Inflation for 2013 is forecast at 2.9 percent, up from 2.6 percent this year, it added.