Cape Verde sees further economic growth of 8.5% in 2008
Cape Verde's economy grew by the highest rate in almost a decade last year, according to new figures. Macau Hub quotes a representative of the International Monetary Fund as saying that last year, the islands recorded economic growth of 10.8 per cent during 2006.
This is the highest figure the islands have seen for eight years and is higher than official predictions.The Cape Verde government had previously estimated that the economic growth would come to between six and seven per cent.
Earlier this week, the prime minister of the islands, Jose Maria Neves, credited the emerging tourist sector with driving this growth. Cape Verde's successful economic growth last year is due to certain industry sectors including telecoms and transport, new figures suggest. The archipelago enjoyed a 10.8 per cent economic growth in 2006 and construction and public work sectors are also to thank. The popularity of the islands as a holiday destination has also been widely credited with leading to a boom in its property market, as the region has become highly popular as a tourist destination in recent years.
