LatinNews Daily - 15 October 2021

In brief: Cuba slashes growth forecast

* Cuba’s economy & planning minister Alejandro Gil has said that the government expects Cuba’s GDP to grow around 2.2% this year, far less than the 6% initially forecast. He said that the country was “entering a gradual phase of economic recovery”. Highlighting the 11% fall in GDP in 2020 due to the coronavirus (Covid-19) pandemic and US economic sanctions, Gil said that recovery was not likely “in the short term, not in a month or two” but “conditions were being created to bring about a gradual process of economic recovery”. He added that the country would not reach its target of attracting 2.2m international visitors this year as it was still unable to open its borders although it is expected to reopen fully to tourists on 15 November. Gil said that next year Cuba was expecting over 2m tourists which in turn would play a key role in economic recovery.

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