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Cuba should end 2022 with a 2.0 percent growth rate

Cuba should end 2022 with a 2.0 percent growth rate

Havana, Dec 12 (Prensa Latina) Cuba's Deputy Prime Minister and Minister of Economy and Planning, Alejandro Gil, informed today that the country should end 2022 with an estimated gross domestic product (GDP) growth of 2.0 percent.

The minister told the members of the National Assembly of People’s Power (parliament) that this figure is far from the 4.0 percent planned at the beginning of the year, which was influenced by the intensification of the U.S. economic blockade, the increase of prices in the international market and the non-fulfillment of exports, among other situations.

He specified that in the period the export of goods managed to recover and even obtained 816 million dollars above the previous stage, due to the income from nickel, tobacco and other items, however, those levels are still below 2019.

Gil added that the main negative impact was determined by the default in services, mainly tourism, which will not reach the planned 2.5 million visitors, and telecommunications.

The deputy prime minister acknowledged that the results of the economic measures adopted by the country, aimed at agriculture, businesses, the sugar harvest and other sectors, are still far from what is desired and what is required, although some steps forward can be observed.

The critical point for the growth of the economy is the earning of foreign currency, stressed the holder, who insisted on the importance of exploiting all possibilities of exporting competitively and inserting in international markets.


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