Sao Tome, Sao Tome and Principe - The Governor of the Central Bank of Sao Tome and Principe, Maria do Carmo Silveira, said Monday that the country hopes to achieve economic growth of 5.5 percent in 2012.

Addressing a press conference, Silveira said that the prospects of oil exploitation in the area shared with Nigeria, within two to three years, and the effective start of the modernization works of the airport will have multiplier effects in the nation's economic growth.

Ms. Silveira said the accumulated rate of inflation could be around 11 percent at the end of this year, saying the Central Bank was working to reduce it to six percent in 2012.

She said that last March, the soaring fuel prices contributed to higher inflation.

Pana 21/12/2011