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Cape Verde

Cape Verde Economic Outlook

  • After experiencing low growth due to the impact of the European and global financial crises, the economy recovered in 2016 to 3.2% and is expected to continue along the same trajectory in 2017 and 2018, with GDP growth rates of 3.7% and 4.1%, respectively.
  • Cabo Verde is at a crossroads: following five years of counter-cyclical fiscal policy to offset a low-growth period and rapid debt accumulation, a paradigm change is now required to make the private sector the growth engine.
  • Well-coordinated sector-based policies, an improved business environment and a focus on regional integration are required to remove current binding constraints to industrialisation such as limited market access, high energy costs and a lack of interisland transportation.

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Key Facts

Flag:
Capital: Praia
Area: 4,033 sq km
Total Population 2017: 0.5 Million
Urban Population 2017: 73.50%
Female Population 2017: 49.70%
GDP: US$ 1.8 Billion
GNI Per Capita 2015: US$ 1,330
Inflation Rate: -
Crude Birth Rate (per 1000): 20.40%
Human Development Index (rank / 188): 122
Human Development Index (scale 0 to 1): 0.648
Membership Date: 15/04/1976
Cumulative Approvals (1967-2016): UA 363.3 Million

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Contacts

Bureau régional du Sénégal

Groupe de la Banque africaine de développement
Immeuble Coumba, 2eme étage
Route de Ngor, Zone 12
Les Almadies
BP 50544 - CP 18524 RP
Dakar, Sénégal

Tél : +221 338200888/338697544
Fax : +221 338200999

M. Mamadou Lamine Ndongo, Représentant Résident

West Africa Region

Mr. M. Janvier LITSE, Director West Africa Region

African Development Bank Group
24ème Etage, Immeuble CCIA, Plateau
01 Boite Postale 1387 Abidjan 01
Côte d’Ivoire

TEL. : (+225) 20 26 40 47