Cuba’s Economy in “Profound Crisis”

HAVANA TIMES, June 16 — The Cuban economy is in a “very deep and difficult” crisis placing the island “in a truly complicated moment” of its history, said Alfredo Jam, a national recognized economist.

Speaking at an international event on accounting and finances, Jam pointed to the low productivity and the lack of interest of young people in work as fundamental causes for the situation, reported IPS.

Low wages that do not meet basic needs and worker-unfriendly management styles are commonly cited as reasons for the low level of on-the-job motivation in Cuba.