The economic growth momentum in Cabo Verde remains strong with real GDP growth estimated at 5% in 2019, thanks to robust activity in industry, fisheries, commerce, and tourism. Public investment’s impact on growth underperformed its potential due to inefficiencies in the large parastatal sector, which resulted in high public debt. Fiscal consolidation was put in place to counter debt, including a 3% of GDP cap on domestic borrowing. These measures started to pay off as the fiscal deficit contracted below 3% of GDP in 2018, financed through concessional loans and treasury bond issuances. Public debt came down from 128.4% of GDP in 2016 to 123.9% in 2018, and is projected to decline to 98.5% of GDP by 2023.
At the end of 2016, the banking sector of the Capo Verde represented a total asset of $2.2 billion.
Credit distributed to private sector in 2016 represents $ 1 billion.
The Capo Verde Stock Exchange has 16 listed companies, representing, at the end of 2016, a market capitalization of $ 0.64 billion.