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Monte Verde, Sao Vicente island
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Public investment drives economic growth in Cape Verde during financial crisis
Praia, Cape Verde, 29 June – “Strong” public investment in large infrastructures, particularly roads and ports, will drive economic growth in Cape Verde during the current period of crisis, according to Cape Verde’s Central Bank.
The scenario is outlined in the central bank’s report to the government, dated May, in which prospects for economic growth for 2009 are substantially revised downwards, from 7 percent to between 4.7 and 5.7 percent, based “on an anti-cyclical policy based on strong public investment.”
“With the liquidity crisis in the financial markets affecting the evolution of foreign investment, public investment will be the principal lever for economic growth," says the document.
At stake, it adds, are the large infrastructures proposed in Cape Verde's State Budget, particularly in the areas of road construction and port expansion. [ more ] |
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