Africa-Press – Cape verde. Yesterday, the Government deposited in parliament the State Budget proposal for 2024, which predicts that the country’s economy will grow 4.7%, a slowdown compared to the 5.7% forecast for this year.
The numbers are part of the base macroeconomic scenario that supports the OE, according to the summary document released on social media by the executive.
With regard to inflation, the Government predicts that, on average, prices will increase by 2.8% in 2024, a value lower than the 5.4% predicted for 2023.
“The unemployment rate will stabilize at 8.2% of the active population, remaining at historically low levels”, he adds, remaining below pre-pandemic levels.
On the other hand, the proposal points to reductions in the deficit and public debt.
The budget deficit is expected to fall to 2.5% of GDP in 2024, below the 3.5% estimated for this year, thanks to the contribution of additional revenue associated with the resumption of economic activity.
“Public debt will fall to 110.5% of GDP in 2024, after a reduction in 2023 to 114.7%”, he adds, highlighting the downward trend that has been observed since 2021 – the year of the Covid pandemic – 19 in which it amounted to 146% of GDP.
The delivery of the OE 2024 to parliament was announced by the Government on social media, along with a summary that indicates the five priorities of the proposal: strengthening internal and international connectivity, accelerating the eradication of extreme poverty, developing human capital, accelerating the transition energy, climate and digital, and strengthen budget transparency and reliability.
The 2024 OE has a total value of 81.2 billion escudos, under the title “Resilience and Transition in the Economy”, being 4.11% higher than this year.
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