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Caribbean & Central America - January 2014 (ISSN 1741-4458)
CUBA: Weak growth despite reforms
The results of economic reforms introduced by the government led by President Raúl Castro last year have so far been disappointing: estimated GDP growth in 2013 was only 2.6%, and in 2014 the government expects only 2.2%. Cuba’s GDP was forecast to accelerate in 2013 to 3.7% (from an average of 2.4% in 2009-12), so the 2.6% result – and the 2.2% forecast represents a significant departure from the expected trajectory. The reasons for this lie in difficulties both within the domestic economy and developments in international conditions.
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