Cabo Verde’s economy grows 0.1 percent in second quarter

5 October 2015

Cabo Verde’s (Cape Verde’s) economy grew by 0.1 percent in the second quarter of 2015, compared with 2.4 percent in the same period of 2014, reported the National Statistics Institute (INE) of the archipelago.

Figures issued by INE show that the Quarterly National Accounts of the second quarter of 2015 showed a slowdown in the growth rate of the Cape Verdean economy, which was due to decreased agricultural, manufacturing, trade, telecommunications and real estate activities.

The most significant contributions to GDP growth occurred in construction, lodging and restaurant, and public administration sectors.

The most significant negative contributions were recorded in agricultural, manufacturing and trade activities.

In the first two quarters, the slowdown was evident in the areas of agriculture, trade, real estate and public administration, also according to INE. (macauhub/CV)