Raul Castro Disregards Possible Collapse of Cuban Economy

Raul Castro Disregards Possible Collapse of Cuban Economy
Fecha de publicación: 
14 July 2016
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Cuban President Raul Castro stated Friday that Cuba will not return to a crisis situation like the one suffered by this Caribbean country at the start of the 90''s when Cuba lost its main commercial partners with the fall of the socialist field. After talking abaout the saving measures implemented to solve problems derived from the lack of liquidity and fuels Raul Castro pointed out that difficulties may come in, but the nation is now in better conditions to face them.

He stated that because of the current situation, speculations are appearing on a possible economic collapse and the return of Cuba to what they called "The Special Period" in the beginnings of the 90's.

"We don't deny some affectations may come, even bigger than the ones we are facing now, but we are ready and in better conditions than back then in the 90's, " he stated.

Concluding the 7th Ordinary Period of Sessions, the Cuban President assured that the current measures to be adopted, are preserving the social services and try to even improve them.

Raul Castro said that the low growth of the national Gross Domestic Product and the contraction of the fuel supplies from Venezuela, despite the strong will of Venezuelan President Nicolas Maduro and his government to fulfil them, have taken the Caribbean island to this situation.

He also mentioned that because of the persistence of the US blockade over Cuba, the island has not been able to use the US dollar in its international transactions after US President Barack Obama had announced that the prohibition would end soon, three months ago.

Despite all these difficulties, some decisions to increase the capacity of the Cuban peso to purchase, the price of a group of articles and items with great demand by the Cuban population, started in vogue.

These and other measures, with still incipient effects, have had a favorable reception in the population for representing a mitigation for the Cuban families, he said, and affirmed that other alternatives are studied in mail with the economic possibilities of the country.

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