Economic growth in Cabo Verde slows in 1st quarter

24 April 2015

The pace of economic growth in Cabo Verde (Cape Verde) slowed in the first quarter of 2015 with the indicator recording the lowest value of the series within an unfavourable economic climate, reported the National Statistics Institute (INE).

INE’s Monthly Survey added that the climate indicator continued the downward trend of recent quarters, i.e. the rate of economic growth continued to slow and recorded the lowest value since the beginning of the series, below the average for the series.

When interviewing businesspeople from various sectors for the Survey, INE found some optimism and favourable conditions in construction, trade fairs and manufacturing, unlike for retail, tourism, transport and auxiliary services.

In tourism, for example, INE reported that the indicator registered the lowest value since the series began, progressing negatively over the same period of last year, with respondents mainly complaining about excessive bureaucracy and regulation. (macauhub/CV)