Cuba's economy will decline in 2024 said the Minister of Economy and Finance

Havana, July 4 (RHC) At the recent meeting of the Council of Ministers, the Minister of Economy and Planning, Joaquín Alonso Vázquez, reported on the behavior of the economy at the end of 2023, which shows a decline compared to the previous year, and the estimate for the first half of 2024.

The first of these topics will be presented during the next ordinary session of the National Assembly, where it will be debated by the deputies.

Alonso Vázquez commented that the situation continues to be complex and insisted on the need to evaluate the causes of what has happened in the economy in order to act on what we need to do in the second semester of 2024.

Regarding the results of the economy in the first six months of the year, he detailed that during the semester, exports of goods such as tobacco, coal, lobster and other sea food, as well as biopharmaceuticals, were met.

Meanwhile, the production of nickel, honey, twisted and raw tobacco did not reach the figures forecast for the first half of the year.

In the specific case of export of services, he mentioned that during the period telecommunications services decreased and medical and tourism services increased.

It is estimated that by the end of the first semester of the year, the country will receive one million 321,900 visitors, he said.

The report evaluates the non-compliance manifested by the economic difficulties in several indicators of the Plan 2024 and its incidence in several areas of the economy. During its presentation, Alonso Vázquez considered that "more than framing ourselves in what happened in the first six months of the year, it is important to evaluate the causes to focus on what we must do in the second semester". (Source: Radio Reloj)