25 September 2007
The bank of Cape Verde has forecast economic growth for this year of between 6 and 7 per cent.
It also revealed that corporate investment is set to double this year, to around 25 per cent of GDP, MacauHub reports.
In the last six years, the archipelago has received around £500 million in foreign investment.
In its most recent report, the bank said: "The export of services category was mainly bolstered by significant growth in gross tourism revenues (45.5 per cent), which has been gaining increasing weighting in the structure of the country's domestic product and as a source of financing the economy."
The statement continued: "Despite having witnessed a slowdown of growth in the first half the most recent information on national economic activity suggest the trend for expansion of the economy will be maintained in 2007".
Last year, Cape Verde's GDP rose by 6.1 per cent, making its economy one of the strongest in West Africa.
