BCV revises high growth to 2017 and predicts GDP increase close to 4% by 2018

 

Praia, Oct 4 (Inforpress) – Bank of Cabo Verde (BCV) predicts growth in gross domestic product (GDP) by volume in Cabo Verde, close to the upper limit of the closed range of 3/4 percent (%) both for 2017 and 2018.

In the monetary policy report released on Tuesday, the BCV explains that the upward revision of the growth predictions for 2017 reflects the greater dynamics, observed until the end of the first half, of private investment financed with foreign and domestic capital and private consumption.

This situation, he added, will translate the lagged effect of the increase in the employed population registered in 2016, as well as the slower recovery of consumer prices and the consistent growth of consumer credit.

However, it stresses that, based on the expectation of accelerating expenditure execution in the second half of the year, public consumption and investment should also contribute positively to economic growth.

MJB / FP / HVF

Inforpress

 

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