GAO indicates that economic growth accelerated in 2016 with GDP growing 3.9 percent

Praia, June 9 (Inforpress) – The Budget Support Group (GAO) representative, Luís Maia, said Thursday that economic growth accelerated in 2016, with Gross Domestic Product (GDP) growing at 3.9 percent (%), up from 1.1 points in 2015.

In a press conference in Praia City, Luís Maia explained that this increase in economic activity was driven by agriculture, tourism and services linked to tourism.

“Domestic demand has shown signs of recovery with the increase in Government consumption, as well as private credit,” noted the EU’s Head of Cooperation in Cabo Verde in presenting the report of a three-day visit by the Budget Support Group to the archipelago.

This European Union official said that economic indicators show that this trend should continue in 2017, warning that domestic demand will remain weak and uncertainties in the international economy could pose risks to economic growth in Cabo Verde.

OM/AA/HVF
Inforpress

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