Minister Defines Challenges of Cuban Economy

Minister Defines Challenges of Cuban Economy

Fighting for production and boosting exports are among the core challenges for the Cuban economy, according to the Economy Minister Alejandro Gil.

Appearing before the Economic Affairs Committee of the National Assembly of People's Power, the Cuban Economy and Planning Minister has said on Monday that as other purposes are the substitution of imports and strengthen productive linkages. We have to increase the socialist state economy, move towards food sovereignty, foster local development (both provincial and municipal), stick to housing construction plan and put science in favor of solving problems, Gil told deputies. He also stressed that Cuba is expecting to get a modest growth of the Gross Domestic Product (GDP) in 2019, in spite of an international setting of financial and tariff sanctions. Likewise, Gil pointed out that the economic growth was globally readjusted to the downside, while the Economic Commission for Latin America and the Caribbean (ECLAC) revised to 1.3 percent its projection for the region, when last December boded 2, 2 percent the GDP´s increase. In the first half of the year we had currency and fuel restrictions but the economy met production levels essential for the country, the minister added.

 

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