Uncertainty surrounds Cuban economic growth forecast for second half of 2017

Cuba’s President, Raul Castro, has warned that while the country experienced a 1.1% growth in Gross Domestic Product (GDP) in the first half of 2017, it anticipated “possible difficulties in the supply of fuels from Venezuela” during the remainder of this year. President Castro made the comments during the closing session of the mid-year meeting of the country’s National Assembly on July 14. He said that “financial tensions and challenges” could complicate the performance of the national economy.

President Castro was able to confirm that advances had been made in prioritised national investment programmes in infrastructure projects which, he argued, would lay the groundwork for future national development. He added that domestic monetary equilibrium had also improved, with lower than expected inflation and a reduced budget deficit. He noted, however, that the country’s external debt remained a problem.

President Castro said that while Government had restructured its external debt with its main creditors, it had not yet been able to catch up on current payments to suppliers. He stated that addressing the problems would require the continuation of measures to protect export earnings, food production, and services to the population. He added that it would be necessary to eliminate all non-essential expenses, and to ensure that resources were used in a targeted way that would support approved priorities.

Cuba’s Minister of the Economy and Planning, Vice President Ricardo Cabrisas, had spoken to the National Assembly about the state of the economy in greater….

This is an extract from the Caribbean Council’s leading weekly editorially independent publication, Caribbean Insight, which provides in depth information on current economic, political and commercial developments in the Caribbean and news on events in Europe and the US that affect the region. Business people, academics, and those with a general interest in the Caribbean find it an invaluable tool for developing and maintaining knowledge and providing an insight into political, economic and commercial events in the region.

The publication is available internationally on a subscription-only basis. SUBSCRIBE NOW



Caribbean Council Twitter
Follow us on Twitter
@CaribbeanCounci

#Guyana’s Model #Green #Town Reflects Ambitious #National #Plan https://t.co/lDIQIPc67W via @Caribbean360 #Bartica https://t.co/TEX7e6ankY
- Monday Aug 7 - 2:24pm

For up to date news and events please click here

Click here to enquire about Membership Events, Consultancy Service, View from Europe Reports, Business of Tourism or General Enquiries.

Contact us for more information

Click here to join the mailing lists for:

Free EventsView from EuropeBusiness of TourismClick here if you would prefer not to be added to our mailing lists

Order Tickets

Contact Us
The Caribbean Council

Temple Chambers, 3-7 Temple Avenue,
London EC4Y 0HP
Telephone +44 (0) 20 7583 8739
Fax +44 (0) 20 7583 9652