Cape Verde’s gross domestic product is expected to grow by between 2.5 percent and 3.5 percent next year, said the central bank, the Bank of Cape Verde, in its latest Monetary Policy Report.

But the bank revised downward its previous estimate – issued in May – for this year’s growth. It thinks the African nation’s economy will have expanded by between 1 percent and 2 percent in 2015.

The central bank said there had been “a non favourable evolution” in investment – including public investment – during 2015, noting that primary sectors of economic activity had also shown weak performance.

The International Monetary Fund said in October it expected Cape Verde’s economy to grow 3.5 percent in 2015.