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Reuters
Reuters
Business

Cape Verde budgets $85 million to cushion Ukraine war fallout

Cape Verde Ukraine
Cape Verde's Prime Minister Jose Ulisses Correia e Silva arrives for the first day of a European Union- African Union summit at the European Council building in Brussels, Belgium, February 17, 2022. John Thys/Pool via REUTERS

Cape Verde will spend around $85 million on emergency subsidies and fiscal measures this year to mitigate the rise in food and fuel prices brought by the war in Ukraine, the Atlantic archipelago's government said on Monday.

The percentage of Cape Verdeans facing a food crisis currently stands at 9% of the population, up from just 2% in 2020, Prime Minister Jose Ulisses Correia e Silva said at a press briefing.

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