After four years of acute economic crisis in Cuba, the government has admitted that its policies have not been effective and the outlook for the coming months remains unfavorable. The new Minister of Economy and Planning, Joaquín Alonso Vázquez, acknowledged that the island’s economy is still in a challenging situation, despite a slight improvement in the tourism sector during the first quarter of the year. However, this improvement has not directly impacted the standard of living of the Cuban population.
One of the main factors contributing to the economic crisis in Cuba is the decrease in export income, which has negatively affected the country’s finances and its ability to acquire essential goods and services. Additionally, more than 300 state companies in strategic sectors are facing losses, highlighting the inefficiency of the current economic model.
Furthermore, agricultural production, particularly sugar, and electricity generation have not met expected levels, leading to shortages of basic products and hindering the overall functioning of the economy. The lack of concrete measures from the government to address these issues has resulted in uncertainty and discontent among the population.
The general economic outlook in Cuba remains concerning, with no clear solution in sight. As the country continues to grapple with these challenges, there is growing frustration among the Cuban people.