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Health crisis causes Cabo Verde’s worst economic performance in 40 years – BCV

Praia, Apr 20 (Inforpress) – Cabo Verde will have had, as a result of the global health crisis, the “worst economic performance” in the last 40 years, according to the Banco de Cabo Verde (BCV) report, released today.

According to the BCV, this crisis interrupted, in 2020, the growth cycle the world economy had been observing since 2009 and consequently determined a significant worsening of the external environment of the national economy.

According to the same source, by citing quarterly estimates from the National Statistics Institute’s national accounts, gross domestic product by volume contracted 14.8 percent in 2020, “which compared to growth of 5.7 percent (%) 5.4% recorded on average between 1980 and 2019”.

“The downsawing of aggregate demand, reflecting the drop in exports and private consumption, respectively, by 58 and 11 percent, determined the worst performance of the national economy since the 1980s of the last century,” reads the document to which Inforpress had access.
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