Raul Castro Acknowledges “Modest” Performance of Cuban Economy

Raul Castro addressing the Cuban parliament on July 5, 2014. Foto: Cubadebte.cu

HAVANA TIMES – Cuban President Raul Castro acknowledged on Saturday that, despite his government’s recent market reforms, the island’s economy has had only a “modest” performance in 2014, DPA reported.

In the first half of the year, the Cuban economy maintained a modest growth tendency,” Castro pointed out during a session of Cuba’s National Assembly (Parliament).

Recently, the Cuban government lowered its economic growth prediction for 2014 from 2.2 to 1.4 percent, owing to a “deceleration of the economy greater than predicted.”

“The Gross Domestic Product (GDP) grew by 0.6 percent (in the first half of 2014). This denotes a decelerated growth rate for this indicator,” Raul Castro explained to the legislators, attributing the low figure to the lack of “foreign revenue”, “climatic conditions” and the “internal shortcomings” of the island’s State economic management.

Despite growth in the sugar, tourism and agricultural sectors, Cuba reported a downward trend in mining and industry, he added.

The Cuban president also blamed some of the country’s difficulties on the “global economic crisis” and the United States’ economic embargo on the island.

Castro  directly referred to the record fine of nearly 9 billion dollars (6.6 billion euros) applied to the French bank BNP Paribas by Washington for doing business with Cuba, Iran and Sudan, in violation to the commercial sanctions imposed on these countries by the United States.

The 83-year-old Castro also stressed that the market reforms implemented over the past several years are entering “a qualitatively higher phase, in which more complex and far-reaching decisions are being evaluated.”


11 thoughts on “Raul Castro Acknowledges “Modest” Performance of Cuban Economy

  • July 9, 2014 at 1:27 pm
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    Fidel & Raul Castro’s father, Ángel Castro y Argiz, was born in Spain. He came to Cuba as a Spanish soldier to fight against the Cuban people in their War of Independence. After the war, he returned to Spain for a while before emigrating to Cuba in 1905. He worked a few years for the United Fruit Company, took his pay, bought a mid-sized plantation and settled down to a moderately affluent life in in Birán, Oriente Province.

    Fidel & Raul were born the illegitimate sons of Ángel’s housemaid, Lina Ruz González. When Fidel was about 8 his parents married.

    One can discern the outlines of several seeds of bitter resentment and antagonism forming in the brother’s childhood.

    There is nothing remotely “autochthonous” about the Soviet economic system Fidel imported from Russia, nor the East German Stasi trained state security apparatus he used to maintain his grip on absolute power. Note that the word is popular among leftist apologists for the Castro regime, and so it is obvious John has been doing his assigned reading.

  • July 9, 2014 at 12:51 pm
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    I think that you Griffin have made a good bold attempt to define “John”. But defining Mr. Goodrich defies all forms of logical analysis. He is certainly sufficiently illogical to qualify as a university professor – probably teaching myopia to a bunch of Johns.

  • July 9, 2014 at 8:48 am
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    Hahaha! Of course, John will likely respond that he is the real “John” and all other “Johns”, including your professor friend are really “Bobs”. Because these “Bobs” do not read ZNet they are too stupid to realize their real names.

  • July 9, 2014 at 7:11 am
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    Nuclear fusion does work on earth; it’s called the Hydrogen bomb. And like socialism/communism/marxism, it’s a highly destructive invention. But unlike socialism/communism/marxism, nuclear fusion does follow scientific laws of nature. Socialism/communism/marxism is contrary to human nature and the laws of economics. That’s why it does not even work on paper.

  • July 9, 2014 at 7:07 am
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    Let John have his pet theory that he alone knows what the True Meaning of Communism is.

    I have a theory that John can’t really be “John” because I know another John, who happens to be a university professor & therefore always right, and John Goodrich isn’t my friend John, so therefore John isn’t really John.

  • July 8, 2014 at 1:07 pm
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    Eh? Put the bong down and keep up with the thread dude.

  • July 8, 2014 at 11:43 am
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    Open up…..expand your mind moses

  • July 7, 2014 at 11:19 pm
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    Carlyle MacDuff has very subtly made a very good point. You continue to press your one-man definition of socialism/communism and you even admit that it has never existed in the real world. I repeat ‘one-man definition’ because you have continued to fail to provide even one other credible source that shares your wacky definition. It should occur to you at some point that socialism on paper is one thing, but in the real world it looks like Cuba. It’s like ‘nuclear fusion’. Its works perfectly on paper and on the Sun but here on earth, nuclear fusion like socialism/communism as you define it simply won’t work.

  • July 7, 2014 at 3:15 pm
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    Cuba is the REALITY of communism and socialism. The economy is totally controlled by the Castros and socialismo and in consequence cannot be described as autochthonous as the Castros grandfather immigrated from Spain and the Taino in Cuba are virtually extinct.
    I love the concept of Raul fiddling – but he doesn’t get jailed for doing so whereas a Canadian business man and Cuban bureaucrats do!

  • July 7, 2014 at 11:05 am
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    Emperor Raul, along the lines of Emperor Nero of ancient Rome, continues to play the fiddle while Havana burns. (OK, I know the whole rumor that Nero played the fiddle while Rome burned is impossible since the violin would not be invented for another 1500 years but you get my point).

  • July 7, 2014 at 10:27 am
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    I guess this proves that communism or socialism just do not work in the minds of those who are stupid enough to propose that Cuba is socialist or communist. .
    but I would still wish to see how Cuba’s economic performance compares to the economic performance of similarly resourced CAPITALIST (developing ) countries .
    To provide statistics strictly within the unique Cuban economy really says nothing about the efficacy of the autochthonous Cuban economy and anyway, any comparison is necessarily skewed by the effects of the U.S. embargo .
    The embargo , it must be acknowledged, has and will have its desired effect of impoverishing the entire Cuban population but will not achieve its end which is an overthrow of the revolution by the Cuban people.

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