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Global uncertainties and structural weaknesses of the São Tomé economy

By Osíris Fernandes de Jesus Costa*

Portuguese-speaking São Tomé and Príncipe (STP) face challenges typical to Small Island Developing States (SIDS) and affect their ability to deal with shocks.

These adverse events always generate significant budgetary imbalances and force the authorities to adopt fiscal restraint measures in the medium term, which penalizes growth and employment.

Furthermore, in the last 15 years, five important adverse events have been observed in the World, and the budgetary imbalances that coincided with this period led to an increase of more than 150% of the STP Government’s debt.

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