Sunday, 16 December 2018 22:56

Cuba's Economy Will Grow in 2018 Despite Tensions

Written by PL
  • font size decrease font size increase font size
  • Print
  • Email
  • No comment

Cuba's economy will grow by just over one percent in 2018, despite financial tensions and the impact of weather phenomena, Economy and Planning Minister Alejandro Gil said today.

 

Havana, Cuba.-In the first day of work of the committees of the National Assembly of People's Power, the owner said in the charge of Economic Affairs that however, the growth of the Gross Domestic Product (GDP) was below the expected, around the two percent.

The damages caused at the end of 2017 by Hurricane Irma and in mid-2018 by the rains associated with the subtropical storm Alberto, affected this result, he said in the presence of Cuban President Miguel Diaz-Canel.

According to Gil, other elements that caused the GDP fall below the plan outlined were the financial tensions, in aspects such as the level of indebtedness.

The minister also recalled that Cuba works on its socio-economic development in a complex scenario, marked by the resurgence of the economic, commercial and financial blockade imposed by the United States for almost 60 years.

Regarding the sectors with advances in GDP compared to 2017, he mentioned communications, the manufacturing industry, fuel refining and social areas, such as health, culture and sports.

Gil explained to the deputies that other sectors decreased, among them the sugar industry, agriculture, income from exports and tourism, and the execution of imports. (PL)

Read 399 times

Escriba su comentario

Post comentado como Invitado

0
  • No comments found