Bank of Cabo Verde expects economic growth for 2017 to be less than 2016


Praia, June 23 (Inforpress) – The Bank of Cabo Verde expects economic growth in 2017 to be lower than last year’s 3.9%, according to the risk evolution outlook in the Financial Stability Report for 2016, today disclosed.

“The forecasts of the Bank of Cabo Verde (BCV), although carried out in a context of uncertainties, suggest a level of economic activity in 2017 lower than in the previous year, with economic growth approaching the lower limit of the range 3.0 to 4.0%,” said the report.

The projections of the International Monetary Fund (IMF) point to a “relatively stable” global economic environment for the economies of emerging and developing countries in 2017, and the economy of the Eurozone, Cabo Verde’s main economic partner, “to maintain the modest recovery trajectory”.

The central bank forecasts anticipate labor market improvements related to “increased private investment and gross private fixed capital formation, underpinned by external investment projects”.



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