Africa-Press – Cape verde. Cape Verde is expected to grow 4.7 percent (%) this year, the same growth predicted for 2025, according to the International Monetary Fund (IMF) in its report on the World Economic Perspectives.
In the case of Portuguese-speaking African Countries (PALOP), Guinea-Bissau and Mozambique are the fastest growing Portuguese-speaking African economies this year, both with an expansion of 5%.
According to the report presented this week, within the scope of the IMF and World Bank Annual Meetings, taking place in Washington, Guinea-Bissau and Mozambique will register growth of 5%, above the 4.7% in Cape Verde and the 2.9% from São Tomé and Príncipe.
Angola is expected to expand by 2.6% this year, after recording growth of 0.5% last year, accelerating to 3.1% in 2025, while Equatorial Guinea will record slight growth this year of 0.5%, after having contracted 5.9% last year, and returning to the ‘red’ again in 2025, with a predicted recession of 4.6%.
São Tomé and Príncipe, after having recorded a 0.3% drop in GDP last year, is expected to accelerate to growth of 2.9% this year and 4.1% in 2025, according to IMF forecasts which, in this report, only presents a table with macroeconomic data, leaving the framework for the report specifically on Africa, which will be released on Friday.
“In sub-Saharan Africa, growth is expected to increase from the 3.4% forecast in 2023 to 3.8% in 2024 and 4% in 2025, with the negative effects of climate shocks continuing and problems in supply chains improving gradually”, reads the World Economic Outlook.
The forecast, adds the IMF, is practically the same as that of the report on Africa, released in October, and the update in January, “as the downward revision of Angola’s growth due to the contraction of the oil sector is offset, in general, by for upward revision in Nigeria”.
At a global level, the IMF improved its global growth forecast by a tenth to 3.2% this year, a rate it also expects for next year.
The institution led by Kristalina Georgieva predicts that global growth, estimated at 3.2% in 2023, will continue at the same pace in 2024 and 2025.
The forecast for 2024 was revised upwards by 0.1 percentage points (pp.) compared to the January report and by 0.3 (pp.) compared to October last year.
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