ZCZC
BCN-03
CUBA-ECONOMY
Cuban economy to shrink 11 pct in 2020
HAVANA, Dec 18, 2020 (BSS/XINHUA) – Cuba’s gross domestic product (GDP) is
expected to plunge 11 percent in 2020, Deputy Prime Minister Alejandro Gil
Fernandez said Thursday.
Reporting economic performance to the national parliament, he said the
country’s GDP was affected by the substantial drop in foreign trade,
international tourism and foreign exchange earnings due to the COVID-19
pandemic, as well as the ongoing U.S. embargo against the island.
The legislative session was attended by ex-president and current first
secretary of the Communist Party of Cuba Central Committee Raul Castro Ruz,
and Cuban President Miguel Diaz-Canel.
During the session, lawmakers also analyzed the application of science to
tackling COVID-19, changing trends in retail trade, and the island’s
agricultural and sugar production.
BSS/XINHUA/GMR/0948 hrs