Africa-Press – Angola. The stock of Cape Verdean public debt fell, until September, to the equivalent of 132.4 percent of the Gross Domestic Product (GDP) estimated for 2022, according to the provisional budget execution report that Lusa had access to monday.
According to the document, from the Ministry of Finance, the ‘stock’ of Cape Verde’s public debt reached 2,691 million euros (298,964 million escudos) at the end of September, a new absolute maximum value, when last August it was around 2,682 million euros (298,022 million escudos).
In July, this ‘stock’ was equivalent to 152.2 percent of GDP, with the drop in the estimate for August and now for September being justified by the Government with the resizing of the basis for the GDP estimate, given the new forecasts for economic growth.
In year-on-year terms, the ‘stock’ of Cape Verdean public debt increased by 10.4 percent compared to 2,437 million euros in September last year, then equivalent to 137.6 percent of GDP in 2021.
This ‘stock’ reached a record 2,523 million euros at the end of last December, equivalent to 157.1 percent of GDP estimated for 2021.
The Cape Verdean Government estimates to lower the public debt ‘stock’ ratio to 150.9 percent of GDP in 2022, as provided for in the State Budget, after 155.6 percent in 2020, due to the economic effects of the pandemic of Covid-19.
In September, public debt contracted internally was worth the equivalent of 41.4 percent of Cape Verde’s GDP (41.9 percent in September 2021), increasing to more than 842.5 million euros (93,606 million escudos) , while the external debt stood at 90.9 percent (95.6 percent in 2021), at almost 1,848 million euros.
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