2023 will be a better year for Cuba's economy, say experts

2023 will be a better year for Cuba's economy, say experts
Fecha de publicación: 
12 December 2022
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Next year will be better for Cuba, said today Alejandro Gil, Deputy Prime Minister and head of Economy and Planning.

During the tenth ordinary session of the ninth legislature of the National Assembly of People's Power (ANPP), the official told the deputies that the country foresees a Gross Domestic Product growth of around 3.0 percent in 2023.

As favorable factors for that projection, he listed the control of Covid-19, the results of the international tour of President Miguel Díaz-Canel, the business agreements of the Havana International Fair, and greater fuel insurance, which covers the demands of the economy and the population

Gil also mentioned the increase in the backup of electric power generation due to the investments made, which will allow reactivating industries that were stopped to try to ensure the service to the populat

Nevertheless, the Deputy Prime Minister commented that hard work must be done to achieve the projections since the goal is to reach exports of goods and services of at least nine thousand 755 million dollars.

This is a growth of more than one billion dollars compared to the results of 2022, but still below 2019, stressed the Minister, who said that tourism will play a fundamental role in these results, with 3.5 million visitors planned for the coming calendar.

He insisted on the importance of generating income through exports, the only genuine source that will allow them to support the plans and essential aspects, such as the acquisition of the standard basic food basket, for which around 1,648 million dollars are needed, at the international market’s current prices.

Gil defined that in the coming year the country needs to achieve progress in the macroeconomic stabilization of the country, and the gradual reestablishment of financing schemes in foreign currency for the main exporters, so that they have real liquidity backing.

Attention to inequalities and people in situations of vulnerability, a sector that has increased in recent years, is another of the issues prioritized, as well as the consolidation of territorial autonomy and the recovery of the socialist state enterprise. (Prensa Latina)

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