Deputy Prime Minister Olavo Correia said Wednesday that the Government of Cabo Verde is looking ahead to next year with “enormous concern” about the evolution of the international economy, given the signs of slowdown.
“We are faced with a context in which we can count on further economic slowdown, as more countries go into economic recession,” said the Minister of Finance and Business and Minister of the Digital Economy at a press conference at the Crisis Office meeting on the implementation of the mitigation measures adopted by the Government in the economy, energy and agri-food sectors.
According to this Minister, trends persist with devastating consequences for emerging markets, but also for developing economies and, particularly, for small island economies, such as Cabo Verde.
According to Olavo Correia, the synchronized increase in the global interest rate and its related monetary policies are likely to continue next year and may not be enough to bring inflation back to levels seen before the COVID-19 pandemic.
Source: Inforpress
