Geopolitical tensions and rising oil prices slow economic growth in Cabo Verde

Praia, May 13 (Inforpress) – Cabo Verde’s economy is expected to slow down in 2026, with Gross Domestic Product growth projected at five per cent, amid an international environment marked by worsening geopolitical tensions and rising international oil prices, the BCV reiterated today.

According to the Monetary Policy Report (RPM) released today by the Bank of Cabo Verde (BCV), the situation is due to the persistence of global economic uncertainties.

This information had already been announced by the governor of the Bank of Cabo Verde (BCV), Óscar Santos, on May 8, during a press conference organised by the International Monetary Fund (IMF) to present the outcome of the mission carried out in Cabo Verde.

The BCV document indicates that, despite the less favourable external environment, Cabo Verde recorded positive economic performance in 2025, with GDP growing by 6.3 per cent in volume. However, growth reflected the slowdown in external tourism demand and the weakening of net external demand.

LC/ZS

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