Cape Verde’s economy projected to grow 7% in 2007

Minister of Finances and Public Administration Cristina Duarte affirmed Friday that government forecasts predict economic growth on the order of 7% for 2007 in Cape Verde. The cabinet minister spoke during a press conference at the end of the IMF mission to Cape Verde.

Cristina Duarte painted a positive portrait of the nation’s economy, saying that the “State Budget, which forecasts an increase in tax revenues, demonstrates the country’s strong macro-economic stability.”

Duarte also announced that, according to investment and tourist promotion agency Cabo Verde Investimentos, some US$ 500 million will flow into Cape Verde from foreign countries and international entities.

“State finance reforms are also under way, namely the decentralization of budget management and the new National Public Accounting Plan,” the minister highlighted.


Source: ASemanaOnline (March 17, 2007)