Cuba Kept Rising Economic Trend in 2017, Says Government

Havana, Dec 19 (Prensa Latina) Cuba kept a rising economic trend in 2017, despite the impact of the U.S. blockade and the tensions arisen from material, financial and climate related risks, said the Government today.

Minister of Economy and Planning (MEP) Ricardo Cabrisas presented the report during the session of one of the permanent committees of the Parliament, the discussions of which take place at the Havana’s Conference Center.

He said that 2017 was a tense and complex year, from the climatic point of view, as the country was subject to the onslaught of a severe drought and then the damage caused by the hurricane Irma, a weather phenomenon of great intensity that damaged a large area of the country.

Cabrisas, also vice president of the Council of Ministers, said that, as expected, the economy was affected by difficult conditions due to the situation of foreign currencies and the fuel performance.

He said that, for Cuba, the international context was marked by the tightened economic, financial and commercial blockade set up by the United States and the backward step in the modest progress made in the process of normalization of bilateral relations.

In an meeting in which president of the Parliament Esteban Lazo participated, Cabrisas and various deputy ministers explained in detail the main balances with a view to assess the fulfillment of the Plan of the national economy during this year and the proposals for 2018.

According to Cabrisas, the annual production of oil (crude oil and gas) was below the forecast by about 38,000 tons, while the production made by renewable sources barely represented 4.25 percent within the national energy structure.

Among the positive aspects, he highlighted the growth of tourism and the steady pace of domestic finances, under conditions of controlled inflation.

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