Articles of Economy

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2017 State Budget settlement report

Lina Pedraza Cuba

The state budget touches all Cubans: when we go to school at any level; when we visit the doctor, regardless of the severity of our health problem; when we retire and receive social security benefits; and, of course, when we pay taxes and fees.

Presented here is information from the settlement report approved by deputies to the National Assembly of People’s Power Ninth Legislature, during its first period of ordinary sessions as part of the accountability process regarding the use of the people’s resources as established in Law 122.

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Hydraulic Capacity of Eastern Cuba Increases

presas-oriente-cuba

The hydraulic capacity of eastern Cuba improves its prospects today, taking into account the most recent reports that place a note of optimism in this regard. A report from the Cuban News Agency points out this weekend that in the eastern Cuban province of Camagüey, water reservoirs reach 90 percent of their total capacity.

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New Markets Open Up to Promote Tourism in Cuba

Merca-Hostal

With the opening of new markets to promote tourism, the different private businesses in Cuba today increase their possibilities, according to official reports. A report on the initiative called Merca-Hostales points to two new establishments for these purposes, particularly for people who operate cheap hotels and need to make certain purchases for their proper functioning.

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Foreign Investment and industrial development … more agility in the works

Mariel

Recent discussions at the country’s highest level, about the necessity of foreign investment truly becoming, as the law indicates, “a fundamental, active element in the development of certain sectors of the economy,” focused on the need for more creativity and agility in handling projects: some yet to be identified; others gathering dust in the portfolio of opportunities; and a few too many stalled in negotiations because of delayed paperwork.

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General strike against failed policy paralyzes Argentina

argentina crisisi

The general strike against the Macri government’s deal with the International Monetary Fund, structural adjustment, austerity, redundancies, growing poverty and inflation, attempted labor reform, and to demand the reopening of salary negotiations, called by the General Confederation of Labor (CGT), with the support of all trade unions, paralyzed Argentina this Monday, June 25.

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Council of Ministers analyzes national economic performance

consejo de Ministros

Cuba’s Council of Ministers, meeting at the beginning of last week in the Palace of the Revolution, and headed by President Miguel Díaz-Canel Bermúdez, analyzed national economic performance in the first half of the year; the 2017 State Budget settlement and the control measures applied in its implementation; as well as exports, external loans for investments and foreign investment.

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Working toward more Cuban products in the tourism sector

ron mulata

The recently concluded International Tourism Fair (FITCuba 2018) marked record participation (3,000 participants from 62 nations). Through May 18, Cuba had received two million international visitors this year. The figures are promising, but they are no accident. Making Cuba an attractive, safe, and comfortable destination for its visitors, and ensuring a profitable tourism sector that in turn contributes to the development of the country, entails joint efforts.

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Production with environmental conscience

paneles solares

Behind every bottle of Cubay rum produced at the Agustín Rodríguez Mena distillery in this municipality, is a centenary history that includes the best of rum making traditions in Central Cuba – the reason the brand has become one of Cuba’s best-selling spirits around the world.

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Cuban President reviews foreign investment and exports

Diaz C Reunion

FOREIGN investment is fundamental to the national economy’s growth and development. We must be audacious and creative in the way we direct it, so we can advance projects designed to include participation of foreign capital. Likewise, increasing exports is of vital importance to acquire the financial resources the country needs for economic development, while replacing imports with domestic products continues as a priority.

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Cruise ship tourism on the rise

crucero

Cruise ship tourism is on the rise in Cuba. Last year the port of Havana received some 328,000 passengers, with 500,000 expected this 2018. Such figures reaffirm travelers’ confidence in Cuba as a safe and attractive tourist destination which – as of May 18, and despite the impact of Hurricane Irma, the tightening of the economic blockade imposed by the United States