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Cape Verde’s growth slows in the first quarter
Release time:2015-07-01
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Cape Verde’s gross domestic product (GDP) grew 1.0 percent in the first quarter, slowing from 4.8 percent for same quarter in 2014.

Cape Verde’s National Statistics Institute released the official data on Tuesday.

The body said the slowdown in economic growth followed a decrease in gross value added in several economic sectors, including agriculture, trade, property, and services to enterprises. A slowdown in the construction sector was also a contributing factor.

On Sunday, Cape Verdean newspaper A Semana quoted the country’s central bank saying the nation’s public debt had reached 114 percent of GDP.

Although there were “positive signs” in 2014 from the country’s main external partners, the situation of the nation’s public accounts and the decrease in the Government’s revenues contributed to the widening of the public debt, the central bank explained.