The economic crisis worsens in Cuba: the government acknowledges the “unfavorable” outlook

After four years of severe economic crisis in Cuba, the government realized this week that its policies have done little good and that the outlook for the coming months remains “unfavorable.” Something that is felt daily at the Cuban table.

The new Minister of Economy and Planning, Joaquin Alonso Vazquez, after the dismissal of Alejandro Gil, the man of reorganization, presented a report on the behavior of the sector this year and noted that “in general Shows an unfavorable outlook“.

Alonso Vasquez He pointed out The island’s economy remains in a “disadvantageous situation”, despite a slight improvement in the tourism sector during the first quarter of the year, which had no direct impact on the Cuban standard of living.

“The depreciation of the Cuban peso due to the unofficial exchange rate continues, and thus prices rise,” the official added.

The economic crisis in Cuba will continue

According to officials, there are many negative factors that influence the failure to resolve the economic crisis in Cuba after four years.

There is a decline in export income as foreign sales do not reach expected levels, which negatively affects the country’s finances. This in turn limits the island’s ability to obtain basic goods and services.

As if that were not enough, there are more than 300 government companies in strategic sectors recording losses, which indicates the inefficiency of the current economic model, although they do not accept the latter.

Finally, agricultural production, especially sugar, and electricity generation do not reach the expected levels, which generates a shortage of basic products and affects the functioning of the economy in general, because without electricity, one cannot be productive, and without production, there is no production that bears fruit.

The general economic outlook in Cuba remains worrying, while the government has not come up with concrete measures to change the situation, generating uncertainty and discontent among the population.