Togo member of OHADA
In terms of structural reforms, it has made progress in the liberalization of the economy, namely in the fields of trade and port activities. The privatization program of the cotton sector, telecommunications and water supply has stalled.
On 12 January 1994, the devaluation of the currency by 50% provided an impetus to renewed structural adjustment; these efforts were facilitated by the end of strife in 1994 and a return to overt political calm. Progress depends on increased openness in government financial operations (to accommodate increased social service outlays) and possible downsizing of the armed forces, on which the regime has depended to stay in place. Lack of aid and depressed cocoa prices generated a 1% fall in GDP in 1998, with growth resuming in 1999. Togo is a member of the Organization for the Harmonization of Business Law in Africa (OHADA).Agriculture is the "backbone" of the economy. A shortage of funds for the purchase of irrigation equipment and fertilizers has reduced agricultural output. Agriculture generated 28.2% of GDP in 2012 and employed 49% of the working population in 2010. The country is essentially self-sufficient in food production. Livestock production is dominated by cattle breeding.Mining generated about 33.9% of GDP in 2012 and employed 12% of the population in 2010. Togo has the fourth-largest phosphate deposits in the world. Their production is 2.1 million tons per year. There are reserves of limestone, marble and salt. Industry provides 20.4% of Togo's national income, as it consists of light industries and builders. Some reserves of limestone allows Togo to produce cement.
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