Economic Development

Cuba To Close Year with Fiscal Deficit of 5.7 Percent

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Update on the Cuban economy – fiscal deficit 2015 article first published in Prensa Latina.  Trends in the Cuban economy.

Cuba’s  Gross Domestic Product grew 4 percent in 2015, compared to growth in 2014.  This year will see a fiscal deficit of 5.7 percent.  The following report on the fiscal deficit comes from Prensa Latina.

Prensa Latina Tuesday 22nd December, 2015 Havana, (Prensa Latina) Cuba will end 2015 with a fiscal deficit amounting to 5.7 percent of the Gross Domestic Product, or below the limit approved in the annual budget law, according to government estimates. Minister of Finances and Prices, Lina Pedraza, said that the behavior of the internal economy will allow the deficit to be below the limit of 6.2 percent enshrined in the law approved by the National Assembly for the present fiascal year. Though year 2015 was tense, the budget expenses and revenue gave response to the levels of activity demanded by the economy, said pedraza in a m..

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