Cabo Verde’s economy expected to continue to grow over the next four years

26 March 2019

Cabo Verde’s economy is set to continue on its path of growth over the next four years after starting in 2017, the head of the International Monetary Fund (IMF) mission said on Monday in Praia.

Malangu Kabedi-Mbuyi, reviewing the latest mission to Cabo Verde that began on 11 March, praised the efforts the government has made in terms of financial stability, economic and fiscal growth, according to the Inforpress news agency.

The IMF’s mission chief said the government should continue to introduce reforms that promote the private sector, job creation, reduction of social inequality and focus on measures that contribute to the collection of more taxes and reduction of public spending.

The mission also concluded that the indicators of financial stability had improved, exports are growing and the budget deficit is declining and considered that the privatization of Cabo Verde Airlines (TACV) was a correct measure by the Government, which will contribute to the stability and economic growth of the country.

Deputy Prime Minister and Finance Minister Olavo Correia highlighted the country’s gains in terms of economic, fiscal and monetary growth in the balance of payments, which, in his opinion, indicate that the macroeconomic and fiscal framework is “very positive.” (Macauhub)