Cape Verde Economic Growth

cape verde economic growth

Three of the smallest African countries – Cape Verde, Guinea Bissau and São Tomé & Príncipe – are on target to witness growth in their economies in 2018 that well exceeds the average for sub-Saharan Africa. The International Monetary Fund (IMF) has published these findings.

Of these three countries São Tomé & Príncipe is expected to see an increase to about 5%. Guinea Bissau is expected to match the same growth as last year, namely 5.5%. Cape Verde is looking at 4.3% this year, although it may slow down slightly next year.

The common language of Portuguese connects these three small countries.

Of the other Portuguese speaking African countries, Angola is likely to show the lowest growth of only 2.2%. Overall the World Bank considers that the recovery in sub-Saharan Africa is too slow. So it is good to learn that amongst the best achievers is Cape Verde.

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