The Cuban economy is expected to grow a little over four percent in the first half of 2015, according to Economy and Planning Minister Marino Murillo during a recent meeting of the Cuban Council of Ministers. The meeting was presided over by Cuban President Raul Castro and analyzed the performance and of the economy and its prospects for the future.
All economic areas will experience growth with the highest indicators in the sugar and manufacturing industries, as well as in construction and trade, the minister said. Murillo added that low performance was reported particularly in the areas of transportation, communications and storage.
The minister criticized the unstable supply of some food products to local stores, such as cheese, frozen chicken and sausages, following insufficient national production and imports. And he said that some 40 million dollars will be allocated to deal with that problem.
The investment plan is being implemented as in previous years with actions in the second half of 2015, while state home construction plans are also expected to be met.
As employment maintains stable, average salaries continue to grow on the basis of increases, particularly in the health sector, while labor productivity is expected to grow by 5.3 percent.
The economic performance for 2016 will pursue objectives whose achievement will depend on actions that must be taken now, Minister Murillo said. He said the objectives are aimed at setting up infrastructure, increasing construction and transportation capacities, providing resources that contribute to local development, including renewable energy sources, the export sector and the replacement of imports with local productions.
Murillo noted that the country’s economic performance is running at good pace and said there are favorable conditions for meeting the economic objectives of the year.
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