Cuba’s real GDP growth slowed to 1% in the first half of this year, down from 4.7% in the same period of last year, President Raúl Castro told the mid-year session of the national assembly on 8 July. This was half what the government had forecast, he admitted, warning that Cuba now needed to cut down on spending and urgently save on energy use, amid liquidity difficulties. The government’s moderate 2% GDP growth forecast for this year may now be optimistic, illustrating that for all the excitement over the rehabilitation of political relations with the US a year ago, Cuba still has a long way to go on the path to economic independence and stability.End of preview - This article contains approximately 1454 words.
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