Cuba´s Deputy Prime Minister and Minister of Economy and Planning Alejandro Gil claimed before deputies of the Economic Commission of the National Assembly of People’s Power (ANPP) that this purpose is ambitious, but necessary.

It is about a growth of over $1 billion with respect to 2022, but still below 2019, stressed the minister, while stating that tourism sector will play a paramount role in these outcomes, with 3.5 million holiday-makers planned for coming calendar.

Gil insisted that generating export income is pivotal. He gave as an example that only in foodstuffs to support the standard basic food basket Cuba must invest over $1.6 billion.

The Deputy Prime Minister also commented that among positive factors that can contribute to a better economic outcome in 2023 are the favorable agreements reached by the Cuban President Miguel Díaz-Canel during his official international visits and the Havana International Fair, incipient recovery of tourism, as well as the diversification of economic actors.

Gil pointed out that the core efforts will be focused on the country´s macroeconomic stabilization, where controlling domestic inflation is top priority. In this regard, Gil detailed that 2022 January-to-October inflation was nearly 29%, which limits purchasing power of wages and pensions.

In comparison with 2021, inflation grew in October to nearly 40%; however, Gil cleared up inflation is not a cause, but an effect of the lack of availability of foreign currency, poor production, deficit of offers, and also theft and profiteering incidence.

The Economy Minister reaffirmed that Cuba – alongside the economy – will continue the assist much-needed people, a sector that has increased in the last years.

Over 1,000 communities nationwide and about 20,000 families have received some kind of protection, and we are currently working particularly on young people, he added.

Pll/rgh/kmg