Cuba reports economic growth of 10.9% in first quarter of the year

Cuban Deputy Prime Minister and Economy Minister Alejandro Gil pointed out that Cuba is sticking to its projections of achieving growth of around 4 percent by the end of 2022, describing the energy situation in the country as "complex" that slows down the functioning of the economy.

Cuba recorded growth of 10.9 percent in the first quarter of this year compared to the same period in 2021, Cuban Deputy Prime Minister and Economy Minister Alejandro Gil said Thursday.

"It is a great rate, but it contrasts with the first quarter of 2021 in which we were practically paralyzed," the senior official said during his speech to the National Assembly of People's Power (unicameral parliament).

The minister announced that as part of the measures to revive the economy, the Cuban government would establish a foreign exchange market for the population, allow foreign investment in the private . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?