{"id":211201,"date":"2019-12-23T08:32:44","date_gmt":"2019-12-23T13:32:44","guid":{"rendered":"https:\/\/oncubanews.com\/en\/?p=211201"},"modified":"2019-12-23T08:32:44","modified_gmt":"2019-12-23T13:32:44","slug":"cuba-to-prioritize-exports-and-increase-savings-in-2020","status":"publish","type":"post","link":"https:\/\/oncubanews.com\/en\/cuba\/cuba-to-prioritize-exports-and-increase-savings-in-2020\/","title":{"rendered":"Cuba to prioritize exports and increase savings in 2020"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The increase and diversification of exports, and the increase in savings measures are two of the main priorities of the <\/span><a href=\"https:\/\/oncubanews.com\/tag\/economia-cubana\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Cuban economy<\/span><\/a><span style=\"font-weight: 400;\"> for 2020, according to the government plan presented this Friday by the minister of economy to the island\u2019s National Assembly.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When presenting to Parliament this year\u2019s balance and the forecasts for the next, Minister of Economy Alejandro Gil also highlighted as priorities for the next twelve months import substitution, the efficiency of the investment process, advance in the country\u2019s monetary organization and fostering links between the state sector, the non-state sector and foreign investment.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"es\" dir=\"ltr\">En sesi\u00f3n de <a href=\"https:\/\/twitter.com\/hashtag\/ANPP?src=hash&amp;ref_src=twsrc%5Etfw\">#ANPP<\/a> Ministro <a href=\"https:\/\/twitter.com\/AlejandroGilF?ref_src=twsrc%5Etfw\">@AlejandroGilF<\/a> present\u00f3 a los diputados informaci\u00f3n de la ejecuci\u00f3n del plan 2019, las medidas adoptadas en materia econ\u00f3mica, as\u00ed como los principales aspectos contenidos en el plan 2020. Ver: <a href=\"https:\/\/t.co\/tUhVxu2aMI\">https:\/\/t.co\/tUhVxu2aMI<\/a><a href=\"https:\/\/twitter.com\/hashtag\/SomosContinuidad?src=hash&amp;ref_src=twsrc%5Etfw\">#SomosContinuidad<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/PoderPopular?src=hash&amp;ref_src=twsrc%5Etfw\">#PoderPopular<\/a> <a href=\"https:\/\/t.co\/z5mg7xZ1iK\">pic.twitter.com\/z5mg7xZ1iK<\/a><\/p>\n<p>&mdash; Ministerio de Econom\u00eda y Planificaci\u00f3n de Cuba (@MEP_CUBA) <a href=\"https:\/\/twitter.com\/MEP_CUBA\/status\/1207775338002092034?ref_src=twsrc%5Etfw\">December 19, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">Gil said that despite the current \u201ccomplex scenario\u201d experienced by the island, marked by the intensification of the U.S. embargo, a 1% economic growth is expected for next year, an objective that must be achieved by \u201cadjusting\u201d to existing resources, through \u201cgreat effort, discipline and search for alternatives\u201d and \u201cwithout increasing the country&#8217;s external indebtedness.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The minister announced that exports are estimated to grow 3.7% due to a better tourism performance, and products such as nickel, tobacco, sugar, rum, charcoal, honey and biopharmaceuticals, the <em>Agencia Cubana de Noticias<\/em> news agency <\/span><a href=\"http:\/\/www.acn.cu\/cuba\/53338-ahorro-y-exportaciones-prioridades-de-la-economia-cubana-en-2020\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">reported<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He also specified that in tourism the arrival of 4.5 million visitors is planned, for a growth of 4.7%, while an increase of 20% of the retail commercial circulation is estimated, an increase of 3.3% in power generation\u2015bringing the contribution of renewable energy sources to 6.5% of the total\u2015and a 19% growth in investments for a total of 12 billion pesos.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Regarding salaries, he said that the <\/span><a href=\"https:\/\/www.mep.gob.cu\/sites\/default\/files\/Documentos\/Informe%20de%20Ministro%20de%20MEP%20%20ANPP%20diciembre%202019.pdf?fbclid=IwAR3Kh2HVvrViBapthsQ91VEUAoQsOW0SmcX5QgHfb1uA895UphpyD7EL2VA\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">2020 plan<\/span><\/a><span style=\"font-weight: 400;\"> estimates a 112-peso growth of the average salary compared to 2019, which would allow to reach 989 pesos, while the generation of jobs must grow by 0.7%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Regarding foreign investment, he said that \u201calready established businesses are being followed up and more than 50 new projects are being assessed,\u201d while on savings, he said that it is necessary to maintain, even increase, the established measures, which \u201cdoes not mean to stop doing, but to achieve more efficient levels of activity with a better use of fuels.\u201d<\/span><\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"dbGFoShvSZ\"><p><a href=\"https:\/\/oncubanews.com\/en\/cuba\/cuba-fails-to-meet-its-economic-growth-goal-for-2019\/\">Cuba fails to meet its economic growth goal for 2019<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Cuba fails to meet its economic growth goal for 2019&#8221; &#8212; OnCubaNews English\" src=\"https:\/\/oncubanews.com\/en\/cuba\/cuba-fails-to-meet-its-economic-growth-goal-for-2019\/embed\/#?secret=1lUMBCjFzB#?secret=dbGFoShvSZ\" data-secret=\"dbGFoShvSZ\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p><span style=\"font-weight: 400;\">In 2019, the government was forced to take savings measures due to the \u201ctemporary\u201d energy crisis because of a diesel deficit, which Gil attributed to pressures exerted by the United States on shipping companies that transport fuel to the island from Venezuela.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The growth target of 1.5% of the Gross Domestic Product for this year\u2015which at the time the island\u2019s authorities considered \u201crealistic\u201d\u2015was not met by a percentage point, and the Economic Commission for Latin America and the Caribbean (ECLAC), estimated that the Cuban GDP reached barely 0.5%.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The increase and diversification of exports, and the increase in savings measures are two of the main priorities of the Cuban economy for 2020, according to the government plan presented this Friday by the minister of economy to the island\u2019s National Assembly. When presenting to Parliament this year\u2019s balance and the forecasts for the next, [&hellip;]<\/p>\n","protected":false},"author":3134,"featured_media":211204,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13902],"tags":[14816],"ppma_author":[33546,8689],"class_list":["post-211201","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cuba","tag-cuban-economy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cuba to prioritize exports and increase savings in 2020 | OnCubaNews English<\/title>\n<meta name=\"description\" content=\"For next year, a 1% economic growth is expected through \u201cgreat effort, discipline and search for alternatives\u201d and \u201cwithout increasing the country&#039;s external indebtedness,\u201d according to 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