Despite U.S. Blockade, Cuban Economy Will Not Decline in 2019
Havana, Aug 8 (Prensa Latina) The Cuban economy forecasts a growth of 0.5 percent for 2019, similar to that of the region, despite the tightening of the U.S. blockade, said Economy and Planning Minister Alejandro Gil.
In his Twitter account, Gil cited a report by the Economic Commission for Latin America and the Caribbean (ECLAC) that predicts that the Cuban economy will not decline this year.
We continue to focus on improving the people’ standard of living, which is what really counts, he added.
According to the daily Granma, the annual report Economic Study of Latin America and the Caribbean 2019, released recently in Santiago de Chile, predicts that the region will maintain a downward trend, due to an international context with greater uncertainties and complexities.
This trend is also influenced by the weak performance of investment, exports and consumption.
Last July, the Cuban Minister of Economy and Planning ratified before Parliament the economic strategy aimed at defending national production, diversifying and increasing exports, substituting imports, promoting production chains, and strengthening the state-owned company.
Likewise, this strategy proposes to strengthen the state enterprise, advance in the purpose of achieving food sovereignty, promote local development, comply with the Housing Policy, and apply science in the solution of problems.
At the end of 2018, the Cuban economy showed a growth in Gross Domestic Product at constant prices of 2.2 percent, higher than the estimated 1.2 percent, beyond the financial restrictions faced, due to the tightening of the US blockade and the failure to meet the expected income from exports, mainly tourism and nickel.
This result was influenced by increases in construction, public health, agriculture, livestock and forestry.
The measures approved to boost the economy, Alejandro Gil stressed at the time, provide a more favorable environment to take advantage of domestic potentials and face the siege to which the U.S. government has imposed on Cuba for six decades, and which is currently escalating.
(Taken from PL in Spanish)
Written by Radio Grito de Baire
