On July 15, Cuba’s Minister of Economy and Planning, Joaquín Alonso Vázquez, told the Economic Affairs Commission of the National Assembly that Cuba has “insufficient foreign currency income [and] external credits and a slow recovery of national production.” There also “are limitations with fuel and energy; high and persistent inflation and high external debt.”
Cuba is engaged in an impossible mission to find new employees for local governments due to the historic exodus of Cubans from the island and the low salaries being offered.
Although the Cuban government had predicted 3% economic growth in 2023, in fact there was a decline of 1.9%.
======================
Fewer dollars, zero credits, more inflation and external debt: Cuba’s economic outlook in 2024, Diario de Cuba (July 15, 2024).
