track economy

The bad business environment, excessive bureaucracy and a legislative framework that suffocates the private sector, as well as the lack of access to capital are largely responsible for the state of Cape Verde's economy, according to Minister José Gonçalves

“Stagnant, strangled and asphyxiated”, is the portrait of the Cape Verdean economy made by Minister José Gonçalves. For the head of the Economy and Employment portfolio, shock measures are needed to change reality and boost the country's development.

"The Cape Verdean economy, today, is stagnant, strangled and asphyxiated for several main reasons, namely the bad business environment that has an excessive bureaucracy and an inefficient legislative framework that suffocates the private sector, mainly due to the lack of access to capital and financing for micro, small and medium-sized companies", said the minister this Tuesday morning, at the special session of Parliament for discussion and approval of the Government Program and the motion of confidence in the executive of Ulisses Correia e Silva.

According to José Gonçalves, the national economy is not very competitive and needs to be energetically stimulated with economic programs and structural reforms, namely through the creation of jobs in each of the priority sectors, such as agriculture, fisheries, tourism, energy, industry, services and digital economy.