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Economic Development

Ricardo Cabrisas is the New Minister of the Economy

Ricardo Cabrisas Ruiz becomes the new Minister of the Economy. Photo: Courtesy of Twitter.

Cuba is reshuffling government posts in light of its current economic situation. Vice president of the Council of Ministers, Ricardo Cabrisas Ruiz, will take on the position as Minister of Economy and Planning.   Mr. Cabrisas is to replace Vice-President Marino Murillo who will be overseeing a special commission on economic matters to focus on the updating of the Cuban economic and social model.

Mr. Cabrisas’ past experience lies in heading important missions for Cuba and debt restructuring negotiations and agreements.

This news was first published in the Associated Press:

“Cuba is reassigning its economics minister to a different post where he will continue to supervise the direction of the country’s struggling economy.

An announcement Wednesday night in state media said Vice-President Marino Murillo will be replaced as economy minister by Ricardo Cabrisas, another VP and longtime politician.

Murillo will head a special commission overseeing economic matters. The announcement said it is key for him to “concentrate his efforts on tasks related to updating Cuba’s economic and social model.”

Murillo has spearheaded economic reforms under President Raul Castro that have allowed a smattering of private-sector activity. He retains his VP rank.

The shuffle takes place shortly after Murillo and Castro said the country faces tough fiscal times due in part to a drop in oil assistance from ally Venezuela.”

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