Cuba adjusts its annual economic plan in light of coronavirus situation

May 12, 2020

by OnCuba Staff

Cuba adjusted the economy plan for 2020 due to the current situation generated by the COVID-19 pandemic, at the same time as it began to carry out the economic plan for the coming year, taking into account the nation’s economic and social development.

The decision was announced at a recent meeting of the Cuban Council of Ministers, where other indications were announced for the economic strategy planned for the recovery stage from the pandemic that is affecting today the entire planet.

Minister of Economy and Planning Alejandro Gil Fernández announced that this readjustment is carried out given the present exceptional situation, and confirmed that work is also underway on the National Plan for Economic and Social Development until 2030.

“In addition, it is necessary to have an economic strategy for recovery and organize the development of the Cuban economy, in a world crisis scenario,” said the official.

The strategy that the government will implement consists of two stages, explained Gil Fernández: the first is related to the immediate recovery of economic activity after the pandemic, while the second will seek to strengthen the national economy.

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