Praia — The Bank of Cape Verde (BCV) has revised its economic growth forecast for 2024 to 5%, surpassing the International Monetary Fund's earlier predictions by 0.3 percentage points. The central bank's monetary policy report, released this week, reflects positive adjustments in price trends and updates to national accounts.

According to Africa News Agency, this upward revision comes after Cape Verde experienced an exceptional 17% growth in 2022, driven by a robust post-pandemic recovery. The nation now anticipates returning to its pre-pandemic economic levels. Looking ahead to 2025, the BCV has set a growth target of 5.4%. The report also forecasts a decrease in inflation rates to 1.2% in 2024 and further to 1% in 2025, signaling a period of economic stabilization for the archipelago.