Praia, July 24, 2025 (Lusa) - Cabo Verde’s economy grew by 3.7% in the first quarter of 2025, year-on-year, a rate 2.9 percentage points lower than in the previous quarter.

The most notable sectors were agriculture, construction, transport, accommodation and catering, and real estate.

Taxes net of subsidies recorded a positive year-on-year growth of 5.7%.

On the expenditure side, an increase in private consumption and investment caused this change.

INE also announced that Cabo Verde’s Gross Domestic Product (GDP) grew by 7.2% in 2024, instead of the 7.3% initially forecast.

The institute also explained that the institute revised the quarterly accounts after releasing the final results of the 2023 annual accounts, and this update reflects that work.

RS/ADB // ADB.

Lusa