Cape Verde: Recent Economic Developments

October 15, 1996

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Cape Verde: Recent Economic Developments, (USA: International Monetary Fund, 1996) accessed November 23, 2024

Summary

This paper describes economic developments in Cape Verde during 1990–96. After a noticeable slowdown during 1989–91, the Cape Verdean economy rebounded in 1992 and continued to expand in 1993–95, prompted by a sustained increase in public spending and the positive effects of a liberalization of economic activities. Real GDP growth averaged 4 percent during 1992–95, but domestic, economic, and financial developments were characterized by increasing imbalances. Total government expenditure increased rapidly, reaching on average 60.1 percent of GDP in 1994–95, far outpacing any growth in domestic revenues and external grants.

Subject: Economic sectors, Income, Labor, Migration, National accounts, Population and demographics, Public enterprises, Public sector, Wages

Keywords: Africa, Capital expenditure, CR, Current account, Debt service, Exchange rate, Foreign currency, Income, ISCR, Migration, Private sector, Public enterprises, Public sector, State enterprise, U.S. dollar, Wages

Publication Details

Pages:

141
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 1996/103
Stock No:

1CPVEA0011996
ISBN:

9781451809237
ISSN:

1934-7685

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