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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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Cuba Announces Food Rationing Amid Supply Crisis

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The Cuban government has begun wholesale rationing of staple food items and other basic products in the face of a serious supply crisis, Ministry of Domestic Trade (MINCIN) Betsy Diaz Velazquez said Friday. The move is a response to further consequences of the... More »

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The Interview with Josefina Vidal – Part Two

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This is a continuation of Cuba Business Report’s interview with Her Excellency, Josefina de la Caridad Vidal Ferreiro, the Ambassador of Cuba to Canada. The interview took place in late January in Ottawa. In part two of the interview, the Ambassador speaks abo... 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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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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