Cabo Verde Deputy Prime Minister and Finance Minister Olavo Correia has said the Cabo Verde economy may be capable of growing at an annual rate of 7 percent, so doubling income per head 10 years from now, Inforpress reports.
The Cabo Verde state-run news agency quotes Mr Correia as saying so after the publication of official figures indicating that the annual rate of growth was 7.6 percent in the fourth quarter, meaning the economy expanded by 5.5 percent last year.
The minister said the economy was growing in spite of difficulties with sea and air transport, and problems with finance and the business environment.
“If we can solve these problems, reaching 7 percent will be very easy,” Inforpress quoted Mr Correia as saying.
In a separate report, Inforpress quotes Cabo Verde Prime Minister Ulisses Correia e Silva as saying the rate of growth last year was due to increases in investment, exports, consumption and tax revenue as the environment for doing business improved.
