HAVANA, Dec 21 (NNN-ACN) — During the Second Ordinary Session of Parliament and with Army General Raúl Castro Ruz and President Miguel Díaz-Canel present, Alejandro Gil Fernandez, Cuba’s deputy prime minister and Minister of Economy and Planning, remarked that the 3% GDP growth for 2023 proved to be an impossible target due to the lack of foreign currency and fuel.
Gil Fernández stressed that in addition to the global crisis, rising prices, international conflicts and Cuba’s own deficiencies, the intensified U.S. blockade is still the main obstacle to national development.
He stressed that the country is striving to guarantee the provision of basic items, which costs more than USD 1.6 billion per year, as well as the production of electricity, fuel, and other staples.
As to the rate of inflation, it was running at 27.03% in November and is expected to rise to 30% by late December, mostly as a result of the rising prices in the world market, labor shortages in agriculture, and speculation, among other causes, the official pointed out.
He also admitted to ineffectiveness regarding the implementation of measures to tackle prices and stressed the urgent need to establish linkages between the state and non-state sectors and deal with the ongoing tendency to import finished goods rather than consumables to produce them in Cuba.
