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Cuba – 2019 – the Year in Review

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2019 has been a year of challenges and victories for Cuba. On January 1, Cuba celebrates the 61st year of the anniversary of the Cuban Revolution. On January 1, 1958, Fidel Castro and the revolutionary army declared victory over the right-wing dictatorship of ... More »

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ECLAC Report 2019 – the Cuban Economy

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The Economic Commission for Latin America and the Caribbean (ECLAC) (Spanish acronym: CEPAL) was established in 1948. ECLAC is headquartered in Santiago, Chile, and is one of the five regional commissions of the United Nations. It was founded with the purpose ... More »

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Cuban GDP growth forecast for 2019

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In 2019, the Cuban economy is forecast to grow by one-and-a-half percent, following a growth rate of 1.2 percent in 2018. This figure is less than the two percent growth previously predicted by the government. Tighter sanctions from the United States, the effe... More »

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Cuba Reports Modest Growth in GDP for First Half of Year

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Cuba’s President Miguel Diaz-Canel told the audience at the National Assembly of People’s Power that the Gross Domestic Product (GDP) had risen 1.1 per cent in the first half of 2018. He described the nation’s economic situation as “tense,” in terms of the ava... More »

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Cuba Repays Second Installment to Paris Club Creditors

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According to a Reuters report yesterday, Cuba repaid a second installment to creditor nations of the Paris Club as per a debt restructuring agreement reached in 2015.  The benefits are twofold.  The repayment increases Cuba’s respect within the international f... More »

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Government Suspends Some But Not All New Licensing Permits

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The news came as a disappointment to many.  The government’s recent Gaceta Oficial Extraordinaria No. 31 ruling has officially pulled the plug on the licensing of some work activities of the cuentrapropistas, (private self-employed workers). While the governme... More »

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Cuban Economic Performance 2016 to 2017

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Official estimates of Cuban economic performance showed a decline of 0.9% in 2016.  This drop occurs after average annual growth rates of nearly 3 per cent were seen from 2011 to 2015.  The 0.9% GDP of last year was announced at the year-end session of… You mu... More »

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Slowed Growth Predicted for the Cuban Economy

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For the year 2016, Cuba economic growth is forecast at two percent, a decrease from the 4.7 percent achieved in 2015.  Although this represents a decline, 2% is still more than acceptable when compared to other emerging market and developing economies.  The 20... More »

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Cubans to Begin Paying Taxes

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Approximately 1.5 million Cuban workers will be required to pay income tax next month. This will be the first time that most Cubans will pay taxes since 1959. It will take effect starting in October this year.   Those working for government companies and indus... More »

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