Increased exports, vital for Cuba's economy

The only real and indisputable avenue to defend the Cuban economy from the US blockade and to get outcomes is to increase exports, Alejandro Gil, minister of Economy, said.

Whether we scale up goods and services sale abroad we can face up the increased social spending required by the island, Gil said in dialogue with Bohemia magazine.

The Cuban deputy prime minister also stressed there are no bounds to raise exports in the 2020 national budget.

Alejandro Gil acknowledged that the current problem has an influence on the monetary-related issue, since the current exchange rate of the Cuban Pesos (CUP) per US$ 1 is not a natural incentive to export.

Generally speaking, these are state-run business, but regardless of the dual exchange, whether the country fails to export more it cannot really face the increased social spending, Gil said.

In this regard, the Economy minister called for some changes to 'hold social guarantees and guarantee the Cuban people's gradually-increased quality of life.'

He recalled that the economic, financial and commercial US blockade, imposed nearly 60 years ago, has a negative impact on the domestic plans.

Despite Washington's punitive measures and the mistakes we could have made, we are here, with our good and bad things, he said.