After four years of acute economic crisis in Cuba, this week the government recognized that its policies have not served much purpose and the outlook for the coming months remains “unfavorable.” Something that is felt daily at the Cuban table.
The new Minister of Economy and Planning, Joaquín Alonso Vázquez, after the dismissal of Alejandro Gil, the man of the reorganization, presented a report on the behavior of this sector this year and noted that “in general terms an unfavorable outlook appears“.
Alonso Vázquez pointed out that the island’s economy continues in an “unfavorable situation”, despite a slight improvement in the tourism sector during the first quarter of the year, which has not had a direct impact on the Cuban standard of living.
“The depreciation of the Cuban peso due to the informal exchange rate persists and, consequently, the increase in prices,” added the official.
The economic crisis will continue in Cuba
According to officials, there are numerous negative factors that affect the economic crisis in Cuba not being resolved after four years.
There is the decrease in export income, since sales abroad do not reach expected levels, which negatively affects the country’s finances. This, in turn, limits the island’s ability to acquire essential goods and services.
As if that were not enough, there are more than 300 state companies in strategic sectors that are registering losses, which shows the inefficiency of the current economic model, although they do not accept the latter.
Finally, agricultural production, especially sugar, and electricity generation do not reach the expected levels, which generates shortages of basic products and affects the functioning of the economy in general, because without electricity one cannot be productive and without production there is no production that bears fruit.
The general economic outlook in Cuba continues to be worrying, while the government does not come up with concrete measures to reverse the situation, something that generates uncertainty and discontent among the population.
Subscribe to notifications
