Cape Verdean economy expected to grow between 1.5 and 2.5 percent in 2016

5 April 2016

Cabo Verde’s (Cape Verde’s) gross domestic product (GDP) is expected to post real growth of between 1.5 and 2,5 percent in 2016, according to macroeconomic projection by the Bank of Cabo Verde.

The latest Monetary Policy Report published by the central bank said that projections of lower economic growth, compared to December, was the result of recent national and international macro-financial developments.

On the demand side, the document said, current prospects for private consumption are more conservative, in line with consumer expectations, whose confidence is on a downturn.

Despite this, growth in 2016 is expected to be slightly higher than in 2015, bolstered by prospects of some improvement in the labour market, some let up in restrictions on access to consumer credit and a continued increase in remittances from emmigrats and social benefits. (macauhub/CV)