Cuba aims at moderate economic growth in 2021

Cuba aims at moderate economic growth in 2021

Business

Cubaplus Magazine

Cuba's Minister of Economy and Planning, Alejandro Gil assured today that his country aspires to achieve a moderate growth of the Gross Domestic Product (GDP) in 2021, around two percent.

 

The also deputy prime minister explained on a press briefing that Cuba began a process of gradual recovery of the economy that will allow the country resuming activity levels, after experiencing a 10.9 percent drop in GDP past year.

Gil explained that in December, the projections for the current period were estimated at six percent growth, but the effects caused by the peak of the Covid-19 cases along with the aftermaths of the US blockade brought about a negative first half of 2021.

In the latest council of ministers, we pointed out that we would not achieve the goal we had set ourselves, the minister detailed; however, we do aspire to a recovery in the second half of 2021, he added.

The minister also stated that the country has not given up to the economic and social development plan until 2030, the second stage of which will begin in 2022.

We have not changed the goals, and we aspire to recover until 2026 what we could not do from 2019 to 2021, he affirmed.

The estimate of around two percent GDP growth coincides with the forecast of the Economic Commission for Latin America (ECLAC), but to achieve so, it will be necessary to make considerable progress in the second half of the year, Gil deemed.

 

(Taken from Prensa Latina)