Real GDP expanded by 17.7 percent in 2022, with per capita incomes surpassing the pre-pandemic levels. On the supply side, accommodation, transport, and commerce explained 60 percent of growth. On the demand side, exports (mainly tourism) and private consumption accounted for growth. The rebound...

The second Economic Update for Cabo Verde focuses on the importance of returning to fiscal sustainability in the aftermath of the COVID-19 crisis and on the potential role of Information and Communications Technology (ICT) in strengthening the foundations for a sustainable and inclusive economic...

In the last 25 years, Cape Verde has made impressive progress in their historical transition from a centrally planned to market economy. Building the institutional foundations of a market economy, this small nation of islands located off the coast of West Africa has developed a vibrant private...

A Public Expenditure Review (PER) update was conducted in 2006 which highlighted: (i) the large and increasing weight of non-discretionary expenditures in the total budget; (ii) the importance of improving coordination among the various planning instruments; (iii) the need to strengthen public...

A Public Expenditure Review (PER) update was conducted in 2006 which highlighted: (i) the large and increasing weight of non-discretionary expenditures in the total budget; (ii) the importance of improving coordination among the various planning instruments; (iii) the need to strengthen public...

This report is the result of a technical and economic assessment of the fisheries sector in Cape Verde. While originally focusing particularly on the long-term development and governance strategy of the sector, the authors, faced with the increasingly apparent need for fundamental restructuring...

Cape Verde is different in that it does not have a national code governing the procurement of goods/equipment or the performance of work, other than the use of consultants' services; it merely has arrangements set forth in decrees that govern procurement in specific sectors. In this regard, the...

This Report on the Observance of Standards and Codes (ROSC) provides an assessment of the strengths and weaknesses of the existing financial reporting infrastructure that underpins financial accounting and auditing practices in Cape Verde. The assessment focuses on six pillars of financial...

Cape Verde is a small country with a population of about 472,000 people spread over nine islands in a ten-island archipelago. It is more developed that most other countries in Sub-Saharan Africa. Its per capita Gross Domestic Product (GDP) per capita is US$5,715 in purchasing power parity (PPP)...

The World Bank, in coordination with the Government of Cabo Verde, has partnered with the Adventure Travel Trade Association (ATTA) to develop a research study about the current status of the adventure tourism sector in Cabo Verde, particularly the hiking segment. The purpose of this research is...