On July 22, Cuba’s National Assembly of Popular Power approved the draft of the new Cuba Constitution. It will now go to a period of “popular consultation, August 13-November 15, and afterwards to a national referendum. [1]
In a concluding address to this session, President Miguel Diaz-Canel said, “The behavior of the economy in the first . . .[half of the year] closes with 1.1 percent growth. A tense situation remains in finance, due to several factors. This situation forces us to ensure control measures in the 2018 Plan. To achieve this we must appeal to the maximum use and efficient use of available resources. In these circumstances, the effort must be multiplied.”
Previously the Cuban government had said the country “needs up to 7 percent annual growth to fully recover and develop from the collapse of former benefactor the Soviet Union, and more recently, Venezuela. The drop in revenues has led Cuba to postpone payments to many suppliers and joint venture partners over the last two years, the government has admitted. Diaz-Canel on Sunday called on the country to work harder to improve the economy and “gradually re-establish the financial credibility of the nation.”
Therefore, we “must draw up an objective and sustainable Plan for the Economy for 2019, but one that does not renounce economic growth.”
As noted in a prior post, the draft Constitution recognizes the right to private property.
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[1] No surprises, the National Assembly approves the Constitution Project of the Republic of Cuba, Diario de Cuba (July 22, 2018); Diaz-Canel: A Constitution that reflects today and the future of the Fatherland, Cubadebate (July 22, 2018); Semple, New Cuba Constitution, Recognizing Private Property, Approved by Lawmakers, N.Y. Times (July 22, 2018); Reuters, Cuba Economic Growth Weak, President Says, as Lawmakers Approve New Constitution, N.Y. Times (July 22, 2018).
