US Blockade Costs 12 Million dollars to Cuba per Day

Featured US Blockade Costs 12 Million dollars to Cuba per Day

The economic, commercial and financial blockade imposed by the United States on Cuba caused during 2018 daily damages amounting to 12 million dollars, Minister of Economy and Planning Alejandro Gil denounced on Friday.

Speaking during the second regular session of the 9th Legislature of the National Assembly of People's Power, the official said that this is an annual impact of more than 4.32 billion dollars.

'How much more could this country do without this blockade,' he asked at the session, in which he stressed that despite such an adverse scenario, Cuba's Gross Domestic Product grew 1.2 percent in 2018.

Although the two percent growth forecast was not achieved, the result is meritorious because of the conflicting scenario, he said.

According to Gil, the calculation of the effects of the US blockade is based on an internationally endorsed methodology. Some criticize our economy and its development, but do not review the impact of this hostile policy in depth, he added.

The Cuban minister told the MPs that in the face of the White House intensifying the blockade the island must increase its economic efficiency.

In that sense he mentioned as priorities for 2019, exports growth, efficiency in investments and encouragement of national production to substitute imports.

Leave a comment