Cape Verde’s state budget, focusing on investment in infrastructure, approved

25 September 2009

Praia, Cape Verde, 25 Sept – The Cape Verdean government Thursday in Praia approved the State Budget for 2010, which focuses on investment in infrastructure and combating the effects of the crisis on the economy.

Cape Verde’s finance minister, Cristina Duarte said that the budget expected revenues of 44 billion Cape Verdean escudos and 61 billion escudos of expenditure, accounting for a public deficit of some 11.8 percent.

Duarte said that the budget outlined significant investments in the public sector.

“Despite expecting significant foreign concessional aid, we have to do our part. These are the national paybacks for structural projects, particularly the ambitious programme for ports in Cape Verde,” she said. (macauhub)