{"id":20681,"date":"2023-10-31T21:41:41","date_gmt":"2023-10-31T21:41:41","guid":{"rendered":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-sees-growth-rising-to-4-5-this-year"},"modified":"2023-11-01T10:42:15","modified_gmt":"2023-11-01T10:42:15","slug":"banco-de-cabo-verde-sees-growth-rising-to-4-5-this-year","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-sees-growth-rising-to-4-5-this-year","title":{"rendered":"Banco de Cabo Verde sees growth rising to 4.5% this year"},"content":{"rendered":"

Africa-Press – Cape verde. <\/strong><\/span>The Bank of Cape Verde revised the country’s economic growth forecast for this year up by 0.4 percentage points, placing it at 4.5%, mainly due to the slowdown in inflation, the governor announced today in Praia.<\/p>\n

There was an \u201cupward revision\u201d in relation to the April forecast, \u201cdue to more recent data\u201d, namely \u201ca much greater than expected slowdown in prices\u201d, boosting consumption, explained O\u0301scar Santos at a press conference.<\/p>\n

The central bank also forecasts growth of 4.7% in 2024 and 5.4% in 2025, based on \u201cthe improvement in real household incomes, supported by the decline in inflation\u201d and a predictable \u201cincrease in external tourist demand, in line with the improvement of the economic prospects of the main partners\u201d.<\/p>\n

Inflation is expected to settle at 4% this year, 2.2% in 2024 and 1% in 2025, a forecast made in anticipation of a \u201cfall in raw material prices, normalization of supply chains and reduction of pressure on costs of production”.<\/p>\n

The Bank of Cape Verde (BCV) estimates that the current account deficit in 2024 will be set at 2% of Gross Domestic Product (GDP), slightly lower than estimated for 2023, with Net International Reserves (RIL) covering 5, 6 months of imports \u2013 above the comfort line of three months, stressed the governor.<\/p>\n

Credit to the economy is expected to grow 3%, \u201ca slight slowdown compared to what is expected for 2023\u201d, he added.<\/p>\n

O\u0301scar Santos indicated some external factors as points of uncertainty.<\/p>\n

\u201cThere are always risks, on the negative side, which are related to geopolitical tension\u201d, such as a \u201cpossible escalation of the conflict between Hamas and Israel, which could have negative effects on energy and food prices\u201d, he said.<\/p>\n

Such a scenario, in turn, \u201ccould lead to a reversal of financial conditions by banks\u201d, he added.<\/p>\n

A less successful economic performance on the part of China, the world’s second largest economy, could be another risk, he indicated. The Week with Lusa<\/p>\n

For More News And Analysis About Cape verde<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Cape verde. The Bank of Cape Verde revised the country’s economic growth forecast for this year up by 0.4 percentage points, placing it at 4.5%, mainly due to the slowdown in inflation, the governor announced today in Praia. There was an \u201cupward revision\u201d in relation to the April forecast, \u201cdue to more recent […]<\/p>\n","protected":false},"author":84,"featured_media":20680,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,331,328],"class_list":["post-20681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-cape-verde","tag-cape-verde"],"yoast_head":"\nBanco de Cabo Verde sees growth rising to 4.5% this year - Cape Verde<\/title>\n<meta name=\"description\" content=\"The Bank of Cape Verde revised the country's economic growth forecast for this year up by 0.4 percentage points, placing ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/banco-de-cabo-verde-sees-growth-rising-to-4-5-this-year\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banco de Cabo Verde sees growth rising to 4.5% this year - 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