Revenue reached 31.4 billion escudos (285 million euros).
The VAT (Value-Added Tax) showed the largest absolute growth, increasing by 1.280 million escudos (11.6 million euros), while the Tobacco Tax reported the highest percentage growth of 163%, although it accounts for a small portion of the total revenue.
Taxes on goods and services, such as VAT, constitute 51% of the archipelago’s tax revenue, followed by income taxes, which account for about a quarter of the total and also recorded significant growth rates (between 20% and 28%).
In September, the Public Finance Council (CFP) noted that Cape Verdean public accounts registered a surplus of 8.3 million euros in the first semester, representing 0.3% of the Gross Domestic Product (GDP), showing a positive reversal compared to the 19 million deficit in the same period of 2024.
The Cape Verdean economy grew by 4.9% in the first half of this year, according to data from the National Institute of Statistics (INE).
This figure aligns closely with the forecasts for the year’s end: the International Monetary Fund (IMF) predicts a growth of 5.2% for 2025, while the 2025 State Budget and the African Development Bank (AfDB) project a 5.3% growth, and the Bank of Cape Verde (BCV) anticipates a 5.5% increase.
