Gross domestic product in Cabo Verde expanded by 3.9 percent last year, the fastest rate of growth since 2011, Inforpress reports.

The Cabo Verde news agency, citing a central bank document, says the bank thinks the improvement in economic performance is likely to benefit the non-financial sector of the economy, shoring up the finances of individuals and companies, and making their endeavours less risky.

The central bank also detects signs that greater deposits and improved solvency have increased the operating efficiency of the banking industry, Inforpress says.