Economy primed to grow by 3-4 pct this year, says Cape Verde’s central bank

The economy of Cape Verde should grow between 3 percent and 4 percent this year, according to the country’s central bank, the A Semana newspaper reports.

The newspaper cites a report released last Friday by the Bank of Cape Verde. It shows gross domestic product expanded by 3.9 percent last year compared to 2015, in what was “the fastest real [annual] growth since 2011,” the report says.

“Despite the slower economic growth of [Cape Verde’s economic] partners, the external context favoured the growth of touristic demand and the inflow of foreign direct investment, set contention in costs related to imports and benefited families’ purchasing power,” the bank was quoted as saying.