ZCZC
BCN-12
CUBA-ECONOMY-GDP
Cuba reports 1.1 pct GDP growth in 1st half of 2018
HAVANA, July 23, 2018 (BSS/Xinhua) – Cuba’s Gross Domestic Product (GDP)
was up just 1.1 percent in the first half of 2018, said Cuban President
Miguel Diaz-Canel on Sunday.
During his closing speech at the ordinary session of the National Assembly
of People’s Power, Diaz-Canel said the country’s economic situation remains
“tense” regarding the availability of foreign currencies.
The Cuban leader emphasized that the modest GDP growth was “encouraging,
though there are many adverse factors (to overcome).”
The president cited low export, tourism and sugar production revenues, as
well as the harmful effects of the extreme weather events, as the issues that
dampened growth.
The Cuban leader said that it would be necessary to adopt additional
measures during the second half of 2018 to guarantee planned economic
results.
He said that despite the internal and external difficulties, a plan for
economic growth and progress, together with the gradual restoration of the
nation’s financial credibility, will be designed.
BSS/AFP/HR/1005