{"id":245233,"date":"2021-10-28T15:09:25","date_gmt":"2021-10-28T19:09:25","guid":{"rendered":"https:\/\/oncubanews.com\/en\/?p=245233"},"modified":"2021-10-28T15:09:25","modified_gmt":"2021-10-28T19:09:25","slug":"cubas-gdp-decreased-13-between-2020-and-2021-according-to-minister","status":"publish","type":"post","link":"https:\/\/oncubanews.com\/en\/cuba\/economy\/cuban-economy\/cubas-gdp-decreased-13-between-2020-and-2021-according-to-minister\/","title":{"rendered":"Cuba\u2019s GDP decreased 13% between 2020 and 2021, according to minister"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Cuba\u2019s Gross Domestic Product (GDP) decreased 13% between 2020 and 2021, said this Wednesday Cuban Minister of <\/span><a href=\"https:\/\/oncubanews.com\/en\/tag\/cuban-economy\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Economy<\/span><\/a><span style=\"font-weight: 400;\"> and Planning Alejandro Gil during the sessions of the <\/span><a href=\"https:\/\/oncubanews.com\/en\/tag\/cuban-national-assembly\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">National Assembly of People\u2019s Power.<\/span><\/a><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In his presentation, Gil explained that the revenue plan until the end of September was at 60% (about 2 billion dollars), and that the year is expected to end with 700 million below what was planned, <\/span><a href=\"http:\/\/www.cubadebate.cu\/noticias\/2021\/10\/27\/alejandro-gil-economia-cubana-ha-perdido-13-de-su-pib-entre-el-2020-y-lo-que-va-de-2021\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">according to the report<\/span><\/a><span style=\"font-weight: 400;\"> by Cubadebate.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"es\" dir=\"ltr\">La econom\u00eda cubana ha perdido 13% de su PIB entre el 2020 y lo que va de 2021, \u201cun impacto realmente duro\u201d para el pa\u00eds, inform\u00f3 el viceprimer ministro y titular de Econom\u00eda y Planificaci\u00f3n, <a href=\"https:\/\/twitter.com\/AlejandroGilF?ref_src=twsrc%5Etfw\">@AlejandroGilF<\/a> , ante la Asamblea Nacional del Poder Popular. <a href=\"https:\/\/t.co\/dm3bZm5fDn\">pic.twitter.com\/dm3bZm5fDn<\/a><\/p>\n<p>&mdash; Ministerio de Econom\u00eda y Planificaci\u00f3n de Cuba (@MEP_CUBA) <a href=\"https:\/\/twitter.com\/MEP_CUBA\/status\/1453385538422153220?ref_src=twsrc%5Etfw\">October 27, 2021<\/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;\">\u201cWhat we\u2019re saying is that in a period of almost two years we have lost more than 3 billion dollars. The economy has been almost resisting,\u201d explained the head of the Ministry of Economy and Planning (MEP), who recalled that 2.4 billion stopped coming into Cuba in 2020.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The minister also specified that exports amount to around 1.344 billion dollars of goods, which represents 68.7% of the plan, while imports stand at around 5.800 billion dollars, 65% of what was planned.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He affirmed that 1.348 billion dollars have been invested to buy food, a figure far below what is necessary to meet the demand of Cubans, which, however, Gil attributed to \u201cefforts that the country has been making to support, as much as possible, the supply of basic foods for the population.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Cuban minister of economy justified the decrease in these imports due to the increase in prices of various products in the international market, such as fuel, which has been above 80 dollars a barrel, in addition to the food itself and freight, which, as he said, have become twice and three times more expensive.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cFinancial operations are not always related to physical operations. You can import less food, but it\u2019s more expensive due to transportation,\u201d he added.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the other hand, Gil pointed out breaches in the sales of two of the main Cuban exportable goods: tobacco, at 91% of the plan, and rum (at 86%), due to problems related to the coronavirus pandemic, which have affected the production of some factories and, in turn, has caused the decrease in international demand for these products.<\/span><\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"hPRl7FlX2i\"><p><a href=\"https:\/\/oncubanews.com\/en\/cuba-usa\/cuba-crisis-or-change\/\">Cuba, crisis or change<\/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, crisis or change&#8221; &#8212; OnCubaNews English\" src=\"https:\/\/oncubanews.com\/en\/cuba-usa\/cuba-crisis-or-change\/embed\/#?secret=QL9gUttLZa#?secret=hPRl7FlX2i\" data-secret=\"hPRl7FlX2i\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p><span style=\"font-weight: 400;\">During his presentation to parliament, the minister of economy affirmed that nickel sales \u201cmaintain a good performance,\u201d and its price is above expectations, \u201cbut we have not reached the levels of physical production established in the plan,\u201d he clarified.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition, he explained that the export of honey and pharmaceutical products show favorable numbers, as well as the income resulting from telecommunications services, although he did not specify figures.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the official report, the minister specified that the planning of sales abroad \u201cdid not take into account the impacts that COVID-19 would cause.\u201d He exemplified the case of the export of services, which barely reached 67% of the plan, especially due to the significant drop in tourism on the island.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWe had planned to receive 2,000,000 international visitors, which will no longer be possible. We will fall far short. However, the important thing is to take advantage of and recover the industry as quickly as possible,\u201d he said.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Regarding food production in Cuba, Gil described the situation as \u201cvery complex\u201d due to the deficit of inputs, fuels, parts and equipment, as well as organizational problems.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He affirmed that there are defaults in almost all lines, such as rice, corn, beans, pork and milk, \u201cwith 63 million liters below the forecast, which has made it impossible to support all levels of medical diets.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He said that, although \u201cit has been possible to ensure the basic food basket, there is a great non-compliance in the national production of eggs, due to effects on the import of corn.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWe are experiencing disordered international logistics in the world. Right now we have thousands of containers, even paid, of international merchandise that have not been able to reach the country, due to COVID-19 as well as the (U.S.) economic blockade,\u201d he commented.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Regarding power generation, the Cuban deputy prime minister also confirmed delays in \u201ccertain maintenance and investments,\u201d and specified that the year is expected to close with some 3 million tons of oil and gas, 90,000 more than what was foreseen in the plan.<\/span><\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"Vtk4bfnkS1\"><p><a href=\"https:\/\/oncubanews.com\/en\/cuba\/electricity-crisis-in-cuba-foreign-investment-and-more-fossil-fuels\/\">Electricity crisis in Cuba: foreign investment and more fossil fuels<\/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;Electricity crisis in Cuba: foreign investment and more fossil fuels&#8221; &#8212; OnCubaNews English\" src=\"https:\/\/oncubanews.com\/en\/cuba\/electricity-crisis-in-cuba-foreign-investment-and-more-fossil-fuels\/embed\/#?secret=okJ9uP3C1E#?secret=Vtk4bfnkS1\" data-secret=\"Vtk4bfnkS1\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThere are several sources that contribute to the generation of energy in the country. The thermal is the one that has generated the most, 55% of the total generation in the country, but in the plan we had foreseen that it would be 60%. Diesel engines represent around 10% and we had planned 5%,\u201d explained the minister.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWhen you generate less with thermal and more with diesel, which has to do with imported products, the cost of generation increases. Diesel has been prioritized for electricity generation and this affects the rest of the productions,\u201d he pointed out.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the other hand, Gil reported that in 2021 the production of cement is not being fulfilled (80% of the plan) and that \u201cthe production of steel is greatly affected\u201d (52%), \u201cas a result of the measures we have been taking to reduce energy consumption in those industries.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In general, the minister of economy specified that there is a supply deficit amounting to 16.5 billion pesos, which is reflected in a commercial circulation of goods and services that at the end of September should have reached 75% of what was planned, \u201cand we are at 67.7%,\u201d he said.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He also affirmed that the retail mercantile circulation in Cuban pesos is at 64%, and in foreign currency at 75%. In this regard, he explained that \u201cno more has been sold in foreign currency than what was foreseen in the plan. The provisions of the plan are being fulfilled in foreign currency. The problems are in the deficit of sales in Cuban pesos. In Cuban pesos, the food basket is at 75% but the one that is not fulfilled is sales in pesos. This has to do with the inflationary processes that the country is facing.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cuba is going through an economic crisis with serious shortages of basic products and rising inflation, a scenario aggravated by the effects of the pandemic and the U.S. embargo. In this context, the Cuban government has given the green light to a group of measures, including the legalization of MSMEs and greater autonomy for state-owned enterprises, in search of boosting national production, although in the opinion of experts more measures and transformations in this direction are necessary.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cWhat we\u2019re saying is that in a period of almost two years we have lost more than 3 billion dollars. The economy has been almost resisting,\u201d explained the head of the island\u2019s economy, who recalled that 2.4 billion stopped coming into Cuba in 2020.<\/p>\n","protected":false},"author":3134,"featured_media":245235,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13904],"tags":[14816,17900,29161],"ppma_author":[33546],"class_list":["post-245233","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cuban-economy","tag-cuban-economy","tag-cubas-gdp-growth","tag-energy-crisis-in-cuba"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cuba\u2019s GDP decreased 13% between 2020 and 2021, according to minister | OnCubaNews English<\/title>\n<meta name=\"description\" content=\"\u201cWhat we\u2019re saying is that in a period of almost two years we have lost more than 3 billion dollars. 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