In line with the previous months, the first semester already reported a surplus equivalent to 8.3 million euros.
This time, in the third quarter (from July to September), the overall balance of the State accounts recorded a surplus of approximately three billion escudos (27 million euros), representing 1% of the gross domestic product, a year-on-year change of 1.4 percentage points from 2024.
This indicates that from one year to the next, the accounts shifted from a deficit of 0.4% of GDP to a surplus of 1%.
In terms of primary balance, the surplus was around 12 billion escudos (109 million euros), with the same year-on-year change.
In the details supporting the accounts, it is explained that “total revenues increased by 17.7% compared to” the third quarter of 2024, according to the report published by the Ministry of Finance.
In this way, the global ratio of public debt to GDP stood at 99% of GDP in the third quarter of 2025, “a decrease of 9.7 percentage points compared to the same period” of the previous year.
“The stock of public debt reached a total amount of 301 billion escudos (2.7 billion euros), with domestic debt accounting for 100 billion escudos (907 million euros, 33.1% of GDP) while external debt is around 200 billion escudos (1.8 billion euros, 66.1% of GDP),” it concludes.
In the state budget proposal for 2026, the last before the legislative elections of 2026 and approved by parliament, in general, last week, the government supported by the Movement for Democracy (MpD) plans to reduce public debt to 97.4% of GDP.
The evolution of Cabo Verde’s public accounts has received positive evaluations from international partners.
Furthermore, in May, the credit rating agency Fitch Ratings maintained Cabo Verde’s rating at B, with a stable outlook, and a year ago, the credit rating agency Standard & Poor’s upgraded Cabo Verde’s rating to B.
