LatinNews Daily - 28 October 2021

In brief: Cuba tallies cost of pandemic impact and US sanctions

* Cuba’s economy & planning minister Alejandro Gil has said that the coronavirus (Covid-19) pandemic and US economic sanctions had caused the country to lose over 13% of its GDP over the last two years. He said that in 2020, US$2.4bn was lost due to both factors while 2021 is expected to close with US$700m less than that forecast. Earlier this month he said that the government expects Cuba’s GDP, which shrank 11% in 2020, to grow around 2.2% this year, far less than the 6% initially forecast. At the time he 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”.

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