Cape Verde’s economy grew 6.2% year-on-year in the second quarter of the year, the National Institute of Statistics (INE) of the archipelago announced on Tuesday, September 30.
In the first quarter, Cape Verde’s Gross Domestic Product (GDP) had expanded by 3.7%, bringing year-on-year growth for the first six months of the year to 4.9%.
With half the year still to go, the figure is close to the forecasts made for 2025.
The International Monetary Fund (IMF) projects growth of 5.2%. Meanwhile, the 2025 State Budget, as well as the African Development Bank (AfDB), foresee growth of 5.3%, and the Bank of Cape Verde (BCV) anticipates 5.5%.
In the national accounts for the second quarter released on Tuesday, the supply side showed strong performance in construction, transportation, accommodation, restaurants, and public administration. On the demand side, INE noted an increase in public consumption and investment.
Net taxes on subsidies recorded a year-on-year increase of 8.3%.
Source: Lusa
