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Cape Verde : BCV revises growth upward to 5% in 2024

The Cape Verdean Central Bank (BCV) has released its monetary policy report, forecasting economic growth of 5% for the archipelago in 2024, an increase of 0.3 percentage points from the IMF’s projections. This upward revision reflects a downward revision of prices and an update of national accounts. After an exceptional growth of 17% in 2022 due to the post-pandemic recovery, Cape Verde expects to return to pre-pandemic levels. For 2025, the BCV maintains its growth forecast at 5.4%. Regarding inflation, the BCV anticipates a decrease to 1.2% in 2024 and 1% in 2025, indicating stabilization in the economy.

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