Cuba to see 0.5 pct growth in 2019, says minister

Cuba to see 0.5 pct growth in 2019, says minister
Fecha de publicación: 
18 December 2019
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Cuba's gross domestic product (GDP) will see a slight 0.5-percent expansion in 2019, the country's Economy Minister Alejandro Gil said on Tuesday.

Speaking to legislatures, Gil said the country's economy this year has suffered from global economic uncertainty and additional economic and financial sanctions imposed by the United States.

Washington's latest sanctions have hurt oil supplies to Cuba, leading officials to take special measures to deal with shortages.

The tourism sector, a main revenue generator for the island country, was severely impacted by U.S. restrictions on cruise ships, pleasure boats and private aircraft with routes from the United States to Cuba.

"These punitive measures affect all Cuban society," said the minister, adding sanctions largely hit Cuba's budding private sector which employs some 618,000 Cubans, many of whom work for small tourism-related businesses.

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