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Cabo Verde with practically zero deficit in the first quarter
Cape Verde recorded a nearly zero deficit in public accounts in the first quarter of this year, falling to 0.03%, according to data released today by the Cape Verdean Government.
© Lusa
Mundo Cabo Verde
According to the State accounts results, in the first three months of this year the almost zero deficit "reflects a more efficient control of expenses and an increase in revenue".
In the period under analysis, the primary current balance recorded a "considerable improvement", with a positive value of 2,264.7 million escudos (20.5 million euros), equivalent to 0.8% of GDP.
"This result is higher than the one recorded in the first quarter of 2023, when it reached 1,340.3 million escudos (12.1 million euros), representing 0.5% of GDP. An evolution that demonstrates consistent and sustainable fiscal management", reads the statement.
The primary overall balance also had a "positive performance", reaching 1,161.4 million escudos (10.5 million euros), that is, 0.4% of GDP.
According to the executive, this data "reflects Cape Verde's capacity to generate a 'surplus' (budget surplus) in its public accounts".
In the period under analysis, total revenue had a "significant increase" of 11.9%, mainly driven by the increase in tax collection, which recorded an increase of 11.2%, and in other revenue, which showed an increase of 23.7%.
In current expenditure, there was an increase of 5.3%, which was mainly driven by expenses with the acquisition of goods and services, transfers, social benefits and other expenses.
From January to March, the Cape Verdean Government announced that the execution of net investments in non-financial assets recorded an "expressive growth" of 77.6%, which indicates an increase in investments in infrastructure and development.
In that period, the public debt went from 112.3% to 107.9% of GDP, which "reflects the country's efforts to promote sustainable debt management".
Read Also: Gender-based violence. Cape Verdean PR asks for "better results" (Portuguese version)
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