Cuba hopes for a better economic carrying-out in 2023, a period for which it plans exports worth over 7 million, official sources informed on Sunday.
Havana, Cuba.- Cuba's Deputy Prime Minister and Minister of Economy and Planning Alejandro Gil claimed before deputies of the Economic Commission of the National Assembly of People's Power (ANPP) that this purpose is ambitious but necessary.
It is about the growth of over $1 billion concerning 2022, but still below 2019, stressed the minister, while stating that the tourism sector will play a paramount role in these outcomes, with 3.5 million holiday-makers planned for the coming calendar.
Gil insisted that generating export income is pivotal. He gave as an example that only in foodstuffs to support the standard basic food basket Cuba must invest over $1.6 billion.
The Deputy Prime Minister also commented that among positive factors that can contribute to a better economic outcome in 2023 are the favorable agreements reached by Cuban President Miguel Díaz-Canel during his official international visits and the Havana International Fair, incipient recovery of tourism, as well as the diversification of economic actors.
Gil pointed out that the core efforts will be focused on the country´s macroeconomic stabilization, where controlling domestic inflation is a top priority. In this regard, Gil detailed that 2022 January-to-October inflation was nearly 29%, which limits purchasing power of wages and pensions.
In comparison with 2021, inflation grew in October to nearly 40%; however, Gil cleared up inflation as not a cause, but an effect of the lack of availability of foreign currency, poor production, the deficit of offers, and also theft and profiteering incidence.
The Economy Minister reaffirmed that Cuba – alongside the economy – will continue the assist much-needed people, a sector that has increased in the last years.
Over 1,000 communities nationwide and about 20,000 families have received some kind of protection, and we are currently working particularly on young people, he added.
ECONOMIC MEASURES IN CUBA STILL ADVANCING WITHOUT DESIRED RESULTS
Cuba's Deputy Prime Minister and Minister of Economy and Planning, Alejandro Gil, asserted today that none of the economic measures taken on the island are paralyzed, although their results are still far from what is desired.
Speaking at the Economic Affairs Committee of the National Assembly of People’s Power (parliament), where President Miguel Diaz-Canel was present, Gil ratified that despite this, the country is not backing down and solutions to the problems are being sought in an adverse international context.
He pointed out that the preliminary forecast is to conclude 2022 with a gross domestic product (GDP) growth of 2 percent, from the 4 percent planned at the beginning of the year.
He said the export of goods managed to recover, since in numerical terms the Caribbean nation exported 8,717,000 dollars, higher than what was achieved in 2021, but below 2019, which is the year as a reference comparison to speaking of a true recovery.
However, Gil added, in the case of services, the results are still lower than expected, an aspect in which tourism and telecommunications have a negative impact.
The country reports the arrival of 1.7 million foreign visitors up to October, which is affected by several factors, such as the global economic crisis and the conflict in Ukraine.
This economic performance has its main effect on the lack of financial resources, which are needed in other sectors to revitalize the industry, expand the foreign exchange market and invest in agriculture, among others.
This monetary support must be obtained from exports, which is the only source of genuine income, stressed the Deputy Prime Minister.
He alluded to the slow recovery of national production, where almost no agricultural item complies with the plan, although they are growing concerning the previous year.
In this sense, he pointed out that the country has only been able to allocate 10 percent of the fertilizers required, a decline for which the national industry must find necessary alternatives.
However, Gil assured that the measures for food production are progressing.
Another of the actions implemented this year, the reactivation of the exchange market, managed to collect 16.7 million dollars in four months, still insufficient, according to the Minister of Economy, however it allowed the gradual incorporation of economic players into this scheme so that this financing is reinserted in production and supply is generated in Cuban pesos.
He also pointed out that there are more than 60 foreign investors interested in participating in the retail and wholesale trade, some of which should materialize next year. This will have a positive impact on the increase of supply, in addition to enhancing the expansion and consolidation of supply markets. (PL)
