Parliament: Prime Minister announces that this year inflation reaches 7.9%

Praia, Jul 29 (Inforpress) – The Prime Minister, Ulisses Correia e Silva, said today that this year inflation in Cabo Verde reaches 7.9 percent (%) and could reach 11.3 percent, were it not for the mitigation measures in the face of the crisis adopted by the executive.

“After the strong economic contraction in 2020, 2021 showed clear signs of recovery. The economy grew seven percent with low inflation, 1.9%,” said the head of the Government, when presenting the x-ray of the country on the last day of the parliamentary year.

For Ulysses Correia e Silva, the war in Ukraine has aggravated the country’s economic and social situation. “The effects of war can bring economic growth to 4% and inflation to rise to 7.9% in 2022,” announced the Prime Minister, for whom the priority is again, “mitigating the effects of a more crisis with severe impacts on the country.”

To mitigate the effects of inflation on households and businesses, the Head of Government stressed, the executive has adopted “a set of price stabilization measures”. “Price stabilisation measures have mitigated the impacts on consumers, organisations and businesses,” the Prime Minister said. According to him, in fuels, without the measures taken by the Government the average price increases could have been between 18 and 21%.



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