Raúl Castro urges to solve economic problems and attract foreign investment

Raúl Castro urges to solve economic problems and attract foreign investment

The ex-leader and leader of the Communist Party of Cuba (Pcc, only legal), Raul Castro, considered today that improving the economy is the country's main challenge, and urged the Government to seek solutions to the multiple problems in this area and boost investment foreign

The "economic battle" is "the one that demands the most, because it is what our people most expect," said the 87-year-old former president, in a speech in Santiago de Cuba during the central event for the 60th anniversary of the Cuban Revolution. 1959 that brought to power his younger brother, Fidel Castro, who died in 2016.

To improve the battered economy of the island -which barely grows 1% per year and drags a chronic crisis of liquidity and currency- Castro raised from adopting a "more proactive attitude" and giving "solutions to problems with agile and efficient responses" until "be more coherent, systematic and precise in the implementation of economic guidelines."

With this, he said, objectives such as "reduce non-essential expenses", increase exports or encourage foreign investment will be achieved.

On the foreign capital, which was president from 2008 until last April, when he yielded the command to Miguel Diaz-Canel, insisted that "it is not a complement, but a fundamental element for the development" of the country.

Castro denounced, once again, the US trade and economic embargo. maintains on Cuba and that according to estimations of the Government of the island caused to the country losses by value of more than 4,000 million dollars only last year.

In 2018, Cuba's economy grew slightly more than 1%, below the 2% initially expected, according to official data.

In the same year, the Caribbean country saw its income reduced by exports and in fundamental sectors such as tourism, a situation aggravated by the damages caused by drought and hurricanes.

In addition to the crisis suffered by its ally Venezuela, which caused a collapse in shipments of subsidized Venezuelan crude to the island, Havana will stop receiving about 300 million dollars a year for the export of professional services to Brazil as a result of its exit from the country. "More Doctors" program.


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