Cabo verde’s ruling party Hails “unprecedented economic growth,” touts private sector as development engine

Cape Verde is experiencing a phase of “unprecedented economic growth” that is directly reducing poverty and unemployment, according to Celso Ribeiro, a lawmaker from the ruling Movement for Democracy (MpD).
The announcement was made during a press conference held as part of parliamentary days ahead of the second plenary session.
Ribeiro pointed to “positive results from governance” in both economic and social spheres, emphasizing that the present and future of the Cabo Verdean economy are built on “a solid and hopeful vision.”
“Cape Verde is growing and distributing.
It is growing with inclusion.
We are witnessing a simultaneous decrease in absolute poverty and extreme poverty, which shows we are not just shifting people from one precarious situation to another, but lifting them sustainably,” he said.
Among the tangible policy outcomes highlighted by Ribeiro were reductions in overall and youth unemployment, as well as the implementation of the Careers, Functions and Remuneration Plan (PCFR) for teachers, doctors, and nurses.
He also cited the regularization of 38 professional career paths as further evidence of the government’s reform efforts.
“Growth has a human impact,” Ribeiro stressed.
1He also noted a drop in the social tariff for water and electricity from 15% to 8%, and the removal of tuition fees at certain levels of education.
Addressing the UCID’s proposal to debate the role of the private sector in the economy, Ribeiro said the MpD welcomed the discussion, adding that the country’s economic growth and private sector development are “deeply intertwined” and “central to the MpD’s foundation.”
Currently, he said, the private sector is responsible for 47% of employment in the country, compared to just 7% for the public sector.
“The MpD has always championed efficiency and revitalization in the private sector.
The transformation of the defunct Prolat into the successful Iogurel, and the profits seen by Cabo Verde Telecom following privatization, are clear examples,” he said.
He added that the government has injected around 10 million euros to boost private sector activity and generate jobs at levels “never seen before.”
Regarding the Parliamentary Commission of Inquiry (CPI) proposed by the PAICV to examine the concession of maritime public transport services, the MpD expressed openness to the idea but criticized the timing of the initiative.
On issues of pensions and social justice, Ribeiro acknowledged there is “still work to be done,” but underscored the recent increase in the minimum wage to 19,000 escudos in the public sector and 17,000 in the private sector.