Modern Economy
Following independence the successive governments of Cape Verde have achieved notable results in all areas. This success is all the more notable considering that the resident population has almost doubled, exacerbating the demands that have historically made it difficult to run the public economy in this country. Some of the key points are maintenance of parity of the Escudo with the Euro, successful privatisation and internationalisation of the Bank, regular functioning of a stock market, implementation of large public works projects, particularly airports and roads, and modernisation of the public administration. These are just some of the pillars that have supported the highly positive development of the Cape Verdean economy.
It has become clear that even if public running of the economy is correct or even excellent, this is not sufficient unless civil society develops the dynamic which leads to growth and wealth creation. Civil construction, tourist properties, installation of some industry, particularly drinks and clothing, and above all the transport and tourism industries have been some of the engines that have dynamised the economy of the country.
A third key element in the economic success of Cape Verde has been international assistance, which has been generous, although both the public and private sectors have repeatedly justified and encouraged it through good management.
This publication offers a summarised history of Cape Verde to illustrate the interest this can hold for tourists, and there is not space to go into detail about the recent economic history of Cape Verde. The fact that the country has achieved a classification as a semi-developed country says enough.
Following independence the successive governments of Cape Verde have achieved notable results in all areas. This success is all the more notable considering that the resident population has almost doubled, exacerbating the demands that have historically made it difficult to run the public economy in this country. Some of the key points are maintenance of parity of the Escudo with the Euro, successful privatisation and internationalisation of the Bank, regular functioning of a stock market, implementation of large public works projects, particularly airports and roads, and modernisation of the public administration. These are just some of the pillars that have supported the highly positive development of the Cape Verdean economy.
It has become clear that even if public running of the economy is correct or even excellent, this is not sufficient unless civil society develops the dynamic which leads to growth and wealth creation. Civil construction, tourist properties, installation of some industry, particularly drinks and clothing, and above all the transport and tourism industries have been some of the engines that have dynamised the economy of the country.
A third key element in the economic success of Cape Verde has been international assistance, which has been generous, although both the public and private sectors have repeatedly justified and encouraged it through good management.
This publication offers a summarised history of Cape Verde to illustrate the interest this can hold for tourists, and there is not space to go into detail about the recent economic history of Cape Verde. The fact that the country has achieved a classification as a semi-developed country says enough.
