Caribbean News Now!

About Us Contact Us


Jump to your country or territory of interest

Advertise with us

Reach our daily visitors from around the Caribbean and throughout the world. Click here for rates and placements.


Submit news and opinion for publication


Click here to receive our daily regional news headlines by email.


Click here to browse our extensive archives going back to 2004

Also, for the convenience of our readers and the online community generally, we have reproduced the complete Caribbean Net News archives from 2004 to 2010 here.

Climate Change Watch

The Caribbean is especially vulnerable to rising sea levels brought about by global warming. Read the latest news and information here...

Follow Caribbean News Now on Twitter
Connect with Caribbean News Now on Linkedin

News from the Caribbean:

Back To Today's News

Cuban economy performs as forecast in first six months of 2017
Published on July 1, 2017 Email To Friend    Print Version


HAVANA, Cuba (ACN) -- Cuban minister of economy and planning, Ricardo Cabrisas, reported to the Council of Ministers that, during the first six months of 2017, the country’s economy has performed as expected.

Cabrisas said that, in order to meet the 2017 plan, they continue taking measures to guarantee that those activities vital for the Cuban economy receive all the needed resources.

Cuba has almost fulfilled the investment plan for the first six months, which should grow in the second half thanks to the arrival of supplies into the country.

The agricultural sector shows favourable results, especially in the production of vegetables, but milk and beef outputs are below expectations.

Freight transportation experienced difficulties, mainly due to problems in the railway system. Crude sugar production, although increasing by 20 percent over the previous year, fell 300,000 tons short of the plan.

With regard to tourism, at the end of May the number of visitors was over 2.260 million, which represents a 20 percent growth over the same period of 2016.

However, the recent drought has had a negative impact on economic performance. At the end of May, the amount of water stored in the dams to supply the population was at 43 percent and that intended to ensure rice production at 27 percent of capacity.

This situation has repercussions throughout the country, although it is aggravated in the central provinces of Ciego de Avila, Sancti Spíritus, Villa Clara and Camagüey. The effects are also felt in the eastern part of the island, mainly in Santiago de Cuba, Guantánamo, Holguín and Las Tunas, where the drought has been extreme in the last three years.

Referring to the implementation of the state budget in the first half of the year, Cabrisas indicated that "gross income represents 53 percent of the annual plan, which is determined mainly by the favourable behaviour of tax revenues."

The fiscal deficit is expected to be in a lower range than planned for the period.

The members of the Council of Ministers approved the report.
Reads: 5409

Click here to receive daily news headlines from Caribbean News Now!



No comments on this topic yet. Be the first one to submit a comment.


As a result of our comments feature being overtaken in recent weeks by spammers using fake email addresses, producing a large number of bounced verification emails each day, we have reluctantly decided to suspend the comments section until further notice.

User comments posted on this website are the sole views and opinions of the comment author and are not representative of Caribbean News Now or its staff. Caribbean News Now accepts no liability and will not be held accountable for user comments.
Caribbean News Now reserves the right to remove, edit or censor any comments. Any content that is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will not be approved.
Before posting, please refer to our Terms of Use and Privacy Policy.

Other Headlines:

Regional Sports: